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New Study Reveals Data Management Is a Top Challenge in the AI Revolution

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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/

WEKA

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Blockchain Press Releases

Flash News: OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

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SINGAPORE, March 2, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 2, 2024.

OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

OKX today announced the launch of its ‘Babylon Pioneer Pass Event,’ giving users who access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC) the opportunity to claim Babylon’s Bitcoin Pioneer Pass NFT. To qualify for a spot, users must access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC).

The event kicks off on February 28 and continues until March 6. Following the event, starting from March 7, participants who have been whitelisted will have the ability to mint their Bitcoin Pioneer Pass NFT using the OKX Wallet and their whitelisted address.

The process of participating in this event is straightforward and involves the following steps:

  1. Firstly, users will need to prepare by setting up their OKX and Keplr Wallets. These wallets will be crucial for interacting with the Babylon Testnet and the subsequent claiming of sBTC and BBN.
  2. Following the wallet setup, users can then claim the sBTC and BBN on Babylon’s Official Discord. These tokens will be needed for staking in the Babylon Testnet.
  3. Finally, users will need to access Babylon’s official website, where users can actively engage, stake their tokens and claim their whitelist spots.

Participation in the event offers a multitude of benefits. Users can engage actively with the Babylon Testnet, which in turn enhances their understanding of the Babylon protocol and its functionalities. Furthermore, participants contribute to the development and evolution of the Babylon protocol by being active users.

The ‘Babylon Pioneer Pass Event‘ is a result of OKX’s partnership with Babylon, a trustless Bitcoin staking protocol. The Bitcoin Pioneer Pass, Babylon’s first commemorative Non-Fungible Token (NFT), is a highlight of this event, representing a significant milestone for both OKX and Babylon.

For more information, please visit the OKX Support Center.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

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Blockchain Press Releases

Bitget Wallet now supports the Blast Mainnet, pioneering full ecosystem support as a Web3 wallet

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VICTORIA, Seychelles, March 1, 2024 /PRNewswire/ — The globally leading Web3 trading wallet Bitget Wallet has now integrated support for the Blast Mainnet, making it the first all-in-one Web3 wallet for the Blast ecosystem. Users can effortlessly add and switch mainnets within the wallet with just one click, without the need for manual configuration. This integration enables users to manage, transfer, swap, and interact on one of the largest L2 launches in 2024.

Bitget Wallet has aggregated liquidity from mainstream DEXs within the Blast ecosystem, such as BlasterSwap and MonoSwap, into its Swap feature. This allows for mainnet token Swap transactions, providing users with convenient services for trading assets on the Blast blockchain.

During the Blast testnet phase, Bitget Wallet was among the first to offer support, unveiled a dedicated zone in its DApp page for Blast. This section featured over 40 elite projects from Blast’s Big Bang incentive program, enabling users to easily explore, interact, and potentially receive future airdrops in the Blast ecosystem. Following the launch of the Blast mainnet, Bitget Wallet plans to continue integrating popular projects from the Blast ecosystem, offering users extensive asset management features and a comprehensive ecosystem experience.

Bitget Wallet’s COO, Alvin Kan, highlights Blast as a Layer 2 solution with staking at its core, gaining market attention since launch. He says, “We’re committed to cutting-edge tech, lowering Web3 engagement barriers. Collaborating with quality mainnets like Blast, we aim to drive Web3 ecosystem growth.”

This week, Bitget Wallet engages with popular Blast ecosystem projects, exploring market traction, “Stake Layer 2” narrative, TVL enhancement strategies by staking and earning points, notable projects, and effective ways for users to participate in the Blast ecosystem upon mainnet launch. This provides users with valuable insights for meaningful ecosystem engagement.

Additionally, Bitget Wallet is organizing major events to support the Blast ecosystem, providing users with opportunities for discovering new assets.

About Bitget Wallet

Bitget Wallet stands as Asia’s largest and one of the world’s top non-custodial Web3 wallets, boasting over 19 million users globally. Featuring a comprehensive array of features including asset management, intelligent market data, swap functionality, launchpad, inscribing, DApp browsing, and more, Bitget Wallet promises users an unmatched multi-chain Web3 experience. Currently, Bitget Wallet supports over 100 blockchains, hundreds of EVM-compatible chains, and more than 250,000 cryptocurrencies. By aggregating liquidity across hundreds of leading DEXs and cross-chain bridges, Bitget Wallet is able to facilitate seamless and efficient trades on 40+ blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

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Blockchain Press Releases

Cashback and Crypto: Bybit’s Monthly Bonanza

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DUBAI, UAE, March 1, 2024 /PRNewswire/ —Bybit, one of the world’s top three crypto exchanges by volume, now unveils March’s Fiat Cashback Splash for both fresh and seasoned users who make fiat deposits.

This effort celebrates both new and familiar faces within the Bybit fold. The “Fiat Cashback Splash” is part of Bybit’s pledge to be the world’s Crypto Ark, leading the way to the new financial system, and offering straightforward chances for anyone to get involved. Indeed, any crypto users, including newcomers, will be able to walk the crypto path with Bybit as a reliable ally.

“We aim to always offer more to our users, and the Fiat Cashback Splash is our latest move to improve their journey,” said Ben Zhou, Bybit’s co-founder and CEO. “The Fiat Cashback Splash is our way of saying thank you to our community, both old and new, for their trust and support.”

This event spans the first week of every month and any one of Bybit’s 20 million users who bring fiat to the table will see rewards. Newcomers putting down $100 through fiat or a single click buy will get up to $10 back on fees. Those already with Bybit, depositing $500 or more, will see $5 returned.

For the heavy hitters depositing over $5,000, Bybit adds a $30 Buy Crypto Coupon into the mix, widening the horizon for investment.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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