New AI Streaming Technology Revolutionizes Development and Cuts Costs
Confluent’s 2024 Data Streaming report reveals organizations leverage data streaming to enhance AI adoption, business agility, and customer experiences, resulting in substantial cost savings.
Driving AI Adoption
Confluent’s 2024 Data Streaming report highlights that 74% of organizations expect investments in Generative AI (GenAI) to rise over the next two years. Data streaming platforms are pivotal in this growth, as they provide the real-time data foundation necessary for AI to function effectively. This continuous flow of data ensures that AI models are constantly updated with the latest information, enhancing their accuracy and reliability.
Enhanced Business Agility
Data streaming acts as the central nervous system for businesses, connecting disparate systems and applications for real-time data accessibility. According to Shaun Clowes, Chief Product Officer at Confluent, ‘Data streaming functions as the central nervous system for businesses. It connects systems and applications so that real-time data is easily accessible for decision-making and optimizing business processes and customer experiences.’ This connectivity allows organizations to respond swiftly to market changes and customer needs, significantly improving business agility.
Cost Savings and Efficiency
The report notes that 91% of IT leaders are investing in data streaming platforms to achieve data objectives, including creating data products that save time and reduce costs. By breaking down data silos and making existing data accessible, these platforms streamline operations and enhance decision-making. Additionally, 90% of respondents indicated that data streaming platforms track data fed into AI models for governance purposes, ensuring compliance and reducing risks associated with data management.
Improved Customer Experiences
With real-time data at their fingertips, businesses can offer personalized and timely customer experiences. Data streaming enables companies to analyze customer behavior and preferences continuously, providing insights that drive targeted marketing and improved service delivery. The ability to act on real-time data ensures that customer interactions are relevant and engaging, fostering loyalty and satisfaction.
Case Study: Confluent’s Impact
Confluent, based in Mountain View, California, leads the charge in data streaming innovation. Their ‘Build with Confluent’ partner program accelerates the development of real-time solutions by leveraging tens of millions of hours of collective data streaming expertise. Partners have already utilized Confluent’s resources to create GenAI bots for airline support, fraud detection systems, and real-time telemetry analysis, showcasing the transformative potential of data streaming in various industries.
Aiven’s Role in Data Streaming
Aiven, a company that simplifies cloud data infrastructure management, also plays a significant role in the data streaming ecosystem. By deploying open-source technologies across multiple clouds, Aiven enables rapid and confident creation of next-generation applications. Their platform offers transparent and predictable pricing, optimizing cloud costs and ensuring security and compliance across various regulations. Aiven’s commitment to the open-source community and their extensive customer base in over 60 countries underline their influence in the data streaming landscape.
Conclusion
As organizations continue to embrace data streaming technologies, the benefits are evident in enhanced AI capabilities, improved business agility, significant cost savings, and superior customer experiences. Companies like Confluent and Aiven are at the forefront of this innovation, providing the tools and expertise needed to harness the full potential of real-time data. The future of data streaming promises even greater advancements, driving efficiency and innovation across industries.