Confluent’s latest report reveals that data streaming platforms (DSPs) are deemed critical by over 90% of Singapore IT leaders for achieving data-related goals and advancing AI adoption. However, challenges such as fragmented data ownership and insufficient AI skills continue to impede progress in the region.
The report, based on insights from 4,175 IT leaders across 12 countries, including 175 from Singapore, underscores the importance of DSPs in transforming businesses into ‘real-time enterprises’. These platforms are essential for connecting, streaming, and governing real-time data, which is crucial for AI systems. “Data streaming platforms act as the nervous system of modern businesses,” said Suvig Sharma, Regional Head, Asia, Confluent.
Key challenges identified include uncertain data timeliness and quality, affecting 72% of businesses, and unclear data lineage, impacting 67%. Despite these hurdles, 95% of Singapore IT leaders plan to increase investments in DSPs in 2025, recognising their role in ensuring data quality and governance.
The benefits of DSPs extend beyond operational efficiency, with 85% of leaders citing product innovation and faster time-to-market as key advantages. Additionally, 88% reported a 2-5x return on investment from data streaming, highlighting its strategic importance.
Confluent’s findings emphasise the need for Singaporean businesses to overcome data and skills challenges to fully leverage AI’s potential. As DSPs become integral to business strategy, they offer a pathway to enhanced innovation and competitiveness in the AI era.
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