Artificial intelligence (AI) constitutes a game changer across all business sectors. This holds particularly true for industrial enterprises due to the large amounts of data generated across the industrial value chain. However, AI has not delivered on the promises in industry practice, yet. The core business of industrial enterprises is not yet AI-enhanced. In fact, data issues constitute the main reasons for the insufficient adoption of AI. This paper addresses these issues and rests on our practical experiences on the AI enablement of a large industrial enterprise. As a starting point, we characterize the current state of AI in industrial enterprises, which we call “insular AI”. This leads to various data challenges limiting the comprehensive application of AI. We particularly investigate challenges on data management, data democratization and data governance resulting from real-world AI projects. We illustrate these challenges with practical examples and detail related aspects, e.g., metadata management, data architecture and data ownership. To address the challenges, we present the data ecosystem for industrial enterprises. It constitutes a framework of data producers, data platforms, data consumers and data roles for AI and data analytics in industrial environments. We assess how the data ecosystem addresses the individual data challenges and highlight open issues we are facing in course of the enterprise-scale realization of the data ecosystem. Particularly, the design of an enterprise data marketplace as pivotal point of the data ecosystem is a valuable direction of future work.