The majority (91%) of data and analytics leaders in Singapore say their data strategies need a complete overhaul before their AI ambitions can succeed, according to Salesforce's State of Data and Analytics report.
"Agentic AI is the most powerful enabler of business transformation today, ushering unprecedented productivity, customer connection and growth. Yet, fragmented data and inconsistent governance continue to hold organisations back from realising the technology's full potential, and fulfilling their vision of becoming agentic enterprises," said Gavin Barfield, vice president & chief technology officer, Solutions, ASEAN, Salesforce.
Data challenges
The report has revealed that in Singapore, 63% of data and analytics leaders say their companies struggle to drive business priorities with data. Almost half (46%) say they can reliably generate timely insights, and 59% say their companies occasionally or even frequently draw incorrect conclusions from data with poor business context.
With AI becoming a top data priority, 86% of data and analytics leaders in Singapore feel pressured to implement it quickly. However, 36% aren't fully confident in the accuracy and relevance of their AI outputs.
The majority (88%) say that AI's outputs are only as good as its data inputs, but data and analytics leaders estimate that 27% of their organisational data is untrustworthy.
As a result of training AI on faulty data, 84% reported experiencing inaccurate or misleading AI outputs; 66% at companies that train or fine-tune their own models report wasting significant resources doing so with bad data.
The survey gathered insights from 3,800 analytics and IT decision-makers and 3,800 business leaders, including 200 from Singapore.
