December 2024 Summaries

Aiven is excited to announce support for PostgreSQL 17, the latest major release of the world's most advanced open-source relational database, introducing features such as performance improvements through streaming I/O for sequential reads and overhauled VACUUM process, enhanced security with improved bulk loading, and developer features like new SQL/JSON capabilities.

Creating a strong foundation for AI adoption is crucial to unlocking its full potential, as businesses are skipping this critical step in favor of throwing data at the problem, hoping some of it sticks. The value derived from AI solutions has been limited due to data-related challenges, with only 17% of organizations successfully moving AI projects into full production. To tackle foundational challenges, businesses need to build a solid data foundation layer first, as emphasized by Nilesh Bansal and Luca Eisenstecken. This includes collecting the right data, having the right infrastructure in place, maintaining governance and privacy controls, and making data accessible to all parties involved. By prioritizing the basics of 'doing data well', businesses can unlock the impact of AI and allow themselves a prime seat at the table of change.

Kroo Bank, a UK-based digital-only bank, has leveraged data stack modernization to support its growth and maintain its challenger status in the crowded fintech market. The company's architecture was designed with scalability in mind using PostgreSQL as its database and Apache Kafka for message distribution. As Kroo secured more customers, it faced limitations with its self-managed Kafka cluster, prompting a switch to Aiven for Apache Kafka. This managed solution allowed the bank to focus on revenue-generating activities while maintaining alignment with the open-source Kafka ecosystem. The company is now exploring options like tiered storage and streaming applications to optimize costs and enhance its data platform further.

The data economy is a rapidly growing sector driven by new and innovative companies entering the market. Governments are recognizing its potential, with the UK government aiming to become a global science and technology superpower by 2030. To join the data economy, businesses need to first get to grips with their data, breaking down internal silos and improving accessibility. The data economy thrives on ecosystems of parties cooperating on shared goals while maintaining individual objectives. Public and private programs like the Aiven Cluster startup program support startups in leveraging resources and expertise from larger companies, creating a win-win situation for all involved.