By MICHAEL CIRCLE
The Data Group News Service
A global survey released Tuesday by Confluent Inc., a data streaming company, underscores how organizations are leveraging real-time data pipelines to drive artificial intelligence development, enhance business agility and unlock innovation.
The report, titled "2024 Data Streaming Report: Breaking Down the Barriers to Business Agility & Innovation," gathered insights from 4,110 IT leaders across 12 countries. It found that 90% of respondents believe data streaming platforms can lead to more product and service innovation in AI and machine learning.
"Data streaming acts as the central nervous system for businesses by connecting systems and applications so real-time data can be easily accessed for decision making and improving business processes and customer experiences," said Shaun Clowes, chief product officer at Confluent.
With AI models like ChatGPT gaining widespread popularity, the survey highlighted data streaming's role in fueling their progress. Sixty-three percent cited streaming platforms as significantly propelling AI initiatives by building the real-time data foundation needed.
Beyond AI, the report emphasized data streaming's impact on developing reusable "data products" - assets that combine fully governed, ready-to-use live data streams for broad accessibility across an organization. Ninety-one percent of respondents are investing in data streaming to create such products.
Data accessibility emerges as a prevailing challenge, with 76% of leaders citing five or more data-related issues like siloed information and governance problems. The survey found data streaming helps break down these silos, with 93% saying it resolves such situations most or many times.
While results varied, 84% of respondents reported a 2x to 10x return on investment from data streaming initiatives, showcasing the technology's potential to deliver value and efficiencies across industries.
For more, please visit New Confluent Global Report Finds Data Streaming Accelerates AI Development and Cuts Costs.
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