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.
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.
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
Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
For media inquiries, partnerships, or more information, email us at [email protected]
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
BingX Collaborates with WunderTrading to Elevate Crypto Automated Trading
SINGAPORE, Sept. 27, 2023 /PRNewswire/ — BingX, a leading global cryptocurrency exchange, is thrilled to announce its integration with WunderTrading, a cutting-edge platform that allows users to trade and invest crypto seamlessly using automated trading bots. This strategic partnership is aimed at enhancing the automated trading experience for BingX users and introducing a new level of convenience and innovation.
WunderTrading is a cloud-based cryptocurrency trading platform that simplifies cryptocurrency trading experience for beginners. Users can easily copy strategies of renowned traders or create their own. The platform offers an advanced trading terminal and automated bots integrated with TradingView, allowing users to manage portfolios efficiently within a single app. WunderTrading stands out by consolidating trading tools, enhancing user experience, and introducing unique features like the Spread-trading Terminal.
The integration of BingX and WunderTrading offers BingX users a significant advantage. With access to TradingView integration and the innovative Spread-trading Terminal, users can automate their trading strategies and diversify their portfolios with minimal risk. The Spread-trading terminal enables BingX users to choose assets for constructing a spread and will execute buy and sell orders simultaneously for the selected pairs. This integration empowers BingX users to create and fine-tune crypto trading bots swiftly, providing a unique opportunity to optimize their trading while minimizing market volatility risks.
Megan Nyvold, Head of Branding at BingX, expressed her excitement about the collaboration, saying, “BingX is always striving to offer our users the most innovative and user-friendly tools to navigate the crypto market with efficiency and greater ease. Our partnership with WunderTrading is a significant step forward. With this integration, we empower our users to trade smarter, diversify their portfolios, and navigate the crypto market with newfound confidence. We’re excited to see our users leverage the power of automated trading through WunderTrading and make the most of this enhanced trading experience.”
As BingX and WunderTrading join forces, users can look forward to an enhanced trading journey filled with innovative tools and features designed to optimize their trading strategies.
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Please visit https://bingx.com to learn about BingX.
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