A recent report has revealed that 100 percent of marketers and agencies surveyed in Singapore encounter barriers in data orchestration and utilisation.
The report by global technology company Lotame, found that data challenges are ubiquitous, as is planned investment in marketing and data technology, with data collaboration platforms delivering multiple tangible benefits.
According to Lotame Chief Executive Officer Andy Monfried, orchestrating and activating data remains a major struggle, but marketers and agencies are finally overcoming this barrier through a combination of technology and a shift in mindset.
Findings from the survey also showed that 78 percent of respondents recognise the urgency of leveraging first-party data, which is 8 percent higher than the global average.
Additionally, more than half (53 percent) of marketers and a quarter od agencies are fully reliant on third-party cookies, aside from taking a portfolio approach to identity solutions, with an average of 3.1 options used in tandem to maximise reach with no clear frontrunner.
Furthermore, 34 percent of respondents anticipate a reduction in programmatic spend compared to 28 percent that are expecting an increase, despite agencies being twice as optimistic as marketers.
Meanwhile, 99 percent of respondents plan to adopt new marketing technologies and data technologies, with around a third of the respondents not planning on retiring any of their current technologies in the near future.
Respondents also report a range of challenges from lack of data overlap to ID scale and required expertise, with an average of 2.3 challenges reported.
Despite being a relatively new technology, data collaboration platforms have been adopted by 64 percent of marketers and a third of agencies with an average of 2.3 positve changes to marketing operations.
Malaysia to Prioritise Foreign Investments in AI and Data Tech
At the same time, Malaysian Prime Minister Datuk Seri Anwar Ibrahim said that Malaysia is focusing on projects related to AI and data technology and is now more selective in choosing foreign direct investments (FDIs).
“If you want to (establish) a data centre, you must have AI, which is an example of how technology needs to be improved,” he said at a forum recently.
According to Anwar, universities in the country should also be improved to product skilled workers in AI and engineering in order to need to meet the needs of high-tech investors.
Meanwhile, Malaysia has been experiencing an increase in the number of investments by global tech firms over the past year as they seek to build critical infrastructure to cater to the growing demand of cloud and AI services.
In light of this, the government plans to create a national cloud policy and introduce regulations to encourage ethical use of AI, which will focus on public service innovation and efficiency, economic competitiveness and growth, strengthening user trust and data security, and empowering citizens through digital inclusivity.
To achieve this, Anwar said that the government will set up a national AI office to coordinate initiatives including a 5-year technology action plan and a regulatory framework to increase adoption of ethical and sustainable AI within the next 12 months.
“We aim to position Malaysia as a hub for generative artificial intelligence and investments from tech partners will be critical in building a robust and secure digital infrastructure,” Anwar said at a ground-breaking ceremony for Google’s new US$2 billion data centre and cloud region in the country earlier in October.
According to Google, its investments in Malaysia would create 26,500 jobs and contribute more than US$3 billion to its economy by 2030.
On this, Google President and Chief Investment Officer Ruth Porat said, “Our investments are designed to provide high performing and reliability, meeting demand for cloud and AI services across the country.”
Google’s moves are a part of a wider expansion by global tech companies into Southeast Asia, as they vie for a greater presence in a region with a young tech-savvy population of 670 million.
The giant company said it would invest US$1 billion in Thailand to build a data centre and cloud region there, to meet growing cloud demand and support AI adoption in Southeast Asia.
