HELSINKI, Finland, 21 November 2024. ‍While data remains fundamental to Artificial Intelligence (AI) strategies, more than half of C-Suite executives cite data-related challenges as the main barrier to success, findings reveal from Aiven, the trusted data and AI platform company. The majority (80%) of executives also emphasize that data sovereignty and control are equally critical to AI-driven strategic success. And many fear data security and privacy mishaps in their AI strategies could lead to negative customer sentiment.

In a survey of 100 C-Suite executives conducted for Aiven, only 17% of organizations have successfully moved AI projects into full production, despite widespread experimentation. Data security and privacy top the list of obstacles, with 58% of executives acknowledging these as primary risks, followed closely by issues of data availability and quality (53%). Talent shortages compound the problem, affecting 50% of respondents. These are key findings from the Predictions in the Data & AI Revolution whitepaper from Aiven.

Proprietary Data: A Critical Asset, Yet Not Fully Prioritized

Three-quarters (75%) of executives view private and proprietary data as critical for AI success. Alarmingly, 26% consider it only moderately important or irrelevant, hinting at a potential underestimation of AI's complexities and the risks involved in exposing sensitive information. While generating simple content like blogs may not seem risky, robust use cases — such as product development — demand proprietary data for differentiation and added value.

As AI is projected to contribute USD 15.7 trillion to the global economy by 2030, data security, quality, compliance and sovereignty remain essential to unlocking this potential.

Customer Perception and the Risk of Falling Behind

While most executives believe customers are positive (47%) or neutral (42%) or even extremely positive (8%) about GenAI, concerns about data security and privacy could easily shift perceptions. A single data breach or compliance misstep could severely damage trust and cause reputational damage. Executives must proactively manage data to avoid being left in the “laggard” category.

Revenue Generation Tops AI Priorities

When asked to identify their top AI outcome, 26% of executives prioritized revenue generation, surpassing goals like cost reduction (16%), competitiveness (15%) and customer experience improvements (15%). Yet this ambition is hindered by inadequate data readiness, signaling that significant gaps remain between AI aspirations and data capabilities.

“Organizations need to be data-ready to truly be AI-ready,” said Francesco Tisiot, Field CTO & Head of Developer Experience at Aiven. “The accessibility of GenAI has created a false sense of ease around AI. However, unlocking the full value of proprietary data is complex and has revealed stress fractures within organizations. Businesses are eager to differentiate through AI-powered innovations but require efficient ways to manage and leverage their data.”

Aiven’s platform addresses this by enabling seamless data mobility, ensuring robust security and compliance, and optimizing access to AI and ML services.

“We want to simplify the path to AI-readiness,” Tisiot added.“By unlocking data, making it available, securable and manageable, we empower companies to drive revenue and achieve better business outcomes.”

Bridging the Gap: Data-Driven Success and AI’s Future Impact

McKinsey research highlights that data-driven companies outperform their peers by up to 20%. Yet, many organizations struggle to realize data's full potential, especially under pressure from skills shortages, cloud complexities and legacy systems that stifle innovation.

“Implementing strong data control and sovereignty frameworks reduces exposure risks and can positively influence customer perceptions,” Tisiot concluded. “Managing these challenges effectively is crucial to transforming AI investments into tangible business value.”

Nilesh Bansal, Co-Founder, WorkOrb, said: “Companies and teams pursuing AI must not skip that important step of building a solid data foundation layer first. So, my advice would be to start with the foundation. Start with the data, and then start building on top of it.”

Ends

Survey Methodology

Between July and August 2024, Gatepoint Research invited selected executives to participate in a survey themed Predicting the Data and AI Revolution. Candidates from several industries were invited via email and 100 executives have participated to date. Management levels represented are all executive decision makers in technical and security positions, and all hold chief executive titles. 100% of responders participated voluntarily.

About Aiven

Aiven is a global open source data platform company, helping organizations drive more value from their data. As a trusted foundation to power innovation, Aiven’s comprehensive data platform combines every tool necessary to stream, manage and analyze data simply, securely and rapidly, on any cloud. The expertise built into Aiven’s AI-powered platform is trusted by hundreds of thousands of start-up and enterprise customers globally to create next-gen applications with confidence. Aiven is fully committed to helping organizations drive innovation that delivers real business value while contributing to the global success of the open source community. Headquartered in Helsinki and with offices globally, Aiven is backed by private and institutional investors.

You can visit us at aiven.io and follow us on LinkedIn and X at @aiven_io

Media Enquiries

Jeff Meisel

jeff.meisel@aiven.io