Blockchain Press Releases
New Study Reveals Data Management Is a Top Challenge in the AI Revolution
Global Survey of More Than 1,500 AI Decision-Makers Finds Organizations That Have Their Data Infrastructure “Houses In Order” Will Be Future AI Leaders
CAMPBELL, Calif., Aug. 16, 2023 /PRNewswire/ — According to a new global study conducted by S&P Global Market Intelligence and commissioned by WEKA, the adoption of artificial intelligence (AI) by enterprises and research organizations seeking to create new value propositions is accelerating, but data infrastructure and AI sustainability challenges present barriers to implementing it successfully at scale. These challenges have been exacerbated by the rapid onset of generative AI that has defined the evolution of the AI market in 2023.
These findings were published today as part of S&P Global’s new 2023 Global Trends in AI report. The research findings are based on a sweeping global survey conducted by S&P Global of more than 1,500 AI practitioners and decision-makers at medium to large enterprise and research organizations across APAC, EMEA and North America – one of the largest of its kind to date.
The study identifies the opportunities and obstacles organizations have encountered in their AI journeys, the unique motivators and value drivers spurring global AI adoption across industries, and provides insights into what steps organizations will need to take to succeed with AI in the future.
“The meteoric rise of data and performance-intensive workloads like generative AI is forcing a complete rethink of how data is stored, managed and processed. Organizations everywhere now have to build and scale their data architectures with this in mind over the long term,” said Nick Patience, senior research analyst at 451 Research, part of S&P Global Market Intelligence. “Although it is still the early days of the AI revolution, one of the overarching takeaways from our 2023 Global Trends in AI study is that data infrastructure will be a deciding factor in which organizations emerge as AI leaders.1 Having a modern data stack that efficiently and sustainably supports AI workloads and hybrid cloud deployments is critical to achieving enterprise scale and value creation.”
Key findings from the study include:
AI Adoption and Use Cases Are Accelerating, But Enterprise-Scale Still Remains Elusive
- 69% of survey respondents reported having at least one AI project in production.
- Only 28% say they have reached enterprise scale, with AI projects being widely implemented and driving significant business value.
- AI has shifted from simply being a cost-saving lever to a revenue driver, with 69% of respondents now using AI/ML to create new revenue streams.
Data Management Is the Top Technical Inhibitor to AI Adoption
- The most frequently cited technological inhibitor to AI/ML deployments is data management (32%), outweighing challenges for security (26%) and compute performance (20%), evidence that many organizations’ current data architectures are unfit to support the AI revolution.
Enterprise AI Use Cases Are Shifting From Cost-Savings to Topline Growth
- 69% of respondents cited that their AI/ML projects focus on developing new revenue drivers and value creation versus 31% still being cost reduction-focused.
As AI Initiatives Mature, a Hybrid Approach and Multiple Deployment Locations Are Needed to Support Workload Demands
- AI/ML workloads are being deployed in a variety of locations, from the public cloud to enterprise data centers and, increasingly, edge sites. Respondents running AI in production leverage more deployment locations on average (3.2 for training, 2.5 for inference) than those in pilots and proof-of-concept phases (2.9, 2.3 ).
- The public cloud is the primary deployment location for training AI/ML models (47%) and inferencing (44%).
- Those who leverage the public cloud to run AI/ML are more likely to leverage a hybrid approach incorporating more locations for both training (4.2, on average) and inference (3.2), as opposed to those who do not use the public cloud (2.2, 1.9).
AI’s Energy and Carbon Footprint Are Straining Corporate Sustainability Goals, But The Cloud Presents a Path to Improvement
- 68% of respondents indicated they were concerned with the impact AI/ML had on their organization’s energy use and carbon footprint
- 74% of respondents said sustainability is an important or critical motivator for moving more workloads to the public cloud.
Aging Data Infrastructures and Legacy Architectures Directly Impact AI’s Sustainability Performance
- 77% of respondents said their data architectures directly impact their sustainability performance.
Organizations Must Get Their Data and Infrastructure ‘Houses in Order’ to Lead with AI
- Companies leveraging a modern data architecture to overcome significant data challenges (sources, types, requirements etc.) can accommodate AI workloads operating across multiple infrastructure venues.
“This expansive study from S&P Global validates what WEKA has heard repeatedly from our customers: traditional data infrastructures are having a direct, negative impact on their ability to use AI efficiently and sustainably at scale because they weren’t developed with modern performance-intensive workloads or hybrid cloud and edge modalities in mind,” said Liran Zvibel, cofounder and CEO at WEKA. “Just as you wouldn’t expect to use battery technologies developed in the 1990s to power a state-of-the-art electric vehicle, like a Tesla, you can’t expect data management approaches designed for last century’s data challenges to support next-generation applications like generative AI. Organizations that build a modern data stack designed to support the needs of AI workloads that seamlessly span from edge to core to cloud will emerge as the leaders and disruptors of the future.”
To learn more about S&P Global Market Intelligence 2023 Global Trends in AI study, visit www.weka.io/trends-in-AI to read the full report, or register to join WEKA and S&P Global Market Intelligence for a free webinar on September 26th, 2023: www.weka.io/lp/how-to-accelerate-your-ai-ml-journey.
Research Methodology
The findings in S&P Global Market Intelligence’s 2023 Global Trends in AI report draw from a survey fielded in Q2 2023 of 1,516 AI/ML decision makers/influencers in companies with over 250 employees and more than $10M in annual revenue. The study prioritized respondents with AI/ML projects in pilots and production environments across the following industries: aerospace & defense, automotive, higher education, finance, energy/oil & gas, government, healthcare, information technology, life sciences, manufacturing, media & entertainment, and telecommunications. The report also draws on contextual knowledge of additional research conducted by S&P Global.
About WEKA
WEKA is leading a paradigm shift in how data is stored, processed, and managed in the cloud and AI era. The WEKA® Data Platform is a software solution that transforms stagnant data silos into dynamic data pipelines that power GPUs efficiently and fuel performance-intensive workloads seamlessly and sustainably. Its advanced cloud-native architecture is optimized to solve complex data challenges at scale, delivering 10-100x performance improvements across edge, core, cloud, hybrid and multicloud environments. WEKA helps the world’s leading data-driven organizations accelerate research and discovery breakthroughs and business outcomes – including eight of the Fortune 50. We operate in over 20 countries globally and are backed by dozens of world-class investors. Learn more at www.weka.io, or connect with us on LinkedIn, Twitter, and Facebook.
WEKA and the WEKA logo are registered trademarks of WekaIO, Inc. Other trade names used herein may be trademarks of their respective owners.
1 Source: S&P Global Market Intelligence, 2023 Global Trends in AI Report, August, 2023
https://www.weka.io/trends-in-ai/
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
[email protected]
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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