The Economic Times
Cloud Strategy Summit
Cloud Technology and/or Digital Transformation would be the second most widely used word in the year gone by after the word ‘Positive’. Though these terms have around for quite a long time now and are part of our businesses and social lives, we probably didn’t value it the way the pandemic has taught us to value and believe in it.
As its widely acknowledged, cloud computing is a critical component of businesses as the workforce has shifted to remote work, and next-generation technologies and initiatives such as digital business, customer intimacy and artificial intelligence have become a reality. Cloud computing offers immense possibilities and benefits for all types of organizations, be it a large-scale enterprise, SME, MSME or the Government. In India, the adoption of this technology is gaining momentum and growing exponentially. This is because the government is proactively supporting the adoption of emerging technologies and best practices derived from different cloud deployment scenarios and application areas. Research suggests that various levels of organizations in India are planning to move their business operations to the cloud as a top priority.
Software has become an integral part of business across the globe, and these businesses have been undergoing a transformation, specifically digital, to adjust to this shift. Cloud computing, cybersecurity and big data analytics are the top three digital technologies which are at the heart of this transformation.
In this one-day summit, we will focus on the importance of cloud computing to India, and how we can shape up a unique identity as a global hub for cloud solutions.
Why Cloud Computing?
Cloud computing has changed the way IT services are provisioned and used. Its potential to scale a project and pay-as-you-go pricing model are the key benefits that the business houses can enjoy in order to achieve effectiveness in their operations. In case of SMEs and MSMEs, cloud technology reduces barrier to their growth by reducing infrastructure costs and upfront investments. In the past few years, IT professionals in many organizations have witnessed and accustomed themselves to cloud adoption. Cloud computing usage is gaining momentum in India mainly because of government support, vendor offerings, and proven best practices, which have resulted in many organizations in India either planning to move to the cloud on priority or already in the start of their migration journey.
Cloud has moved from being a relatively back-end (storage) to a front-end (business facing) technology, enabling on-demand access to resources, flexibility in scaling, cost reduction and business continuity. According to Gartner, worldwide public cloud services spending is estimated to grow at 18% annually to over $360 billion by 2022, from about $258 billion in 2020. The ongoing pandemic has accelerated this cloud shift, with even conventional industries like education and manufacturing fast-tracking its adoption.