Cloud Computing Trends and Innovations: Staying Ahead in Chennai’s Tech SceneAugust 18, 2023 2023-09-15 17:04
Cloud Computing Trends and Innovations: Staying Ahead in Chennai’s Tech Scene
As volatile as the weather is, the cloud computing environment. Gartner® predicts that by 2023, end-user expenditure on the public cloud will be close to $600 billion globally, as the rate of innovation in the cloud and the availability of new tools and services continue to soar. It’s a stimulating, hopeful, and occasionally confusing environment. Join SLA Institute to dig up deeply about the Cloud Computing Trends and Innovations that help you stay ahead in Chennai’s Tech Scene.
Trends According to Finance Perspective
In response to the present economic climate, 41.4% of worldwide IT and business leaders want to increase their investment in cloud-based services and products, according to the Google Cloud Brand Pulse Survey – 2022.
IT Executives Rely on the Cloud
IT executives are relying on the cloud to help them get ready for whatever comes next. According to cloud leaders, the macroeconomic environment has led to increased use of cloud-based services and products (41.4%), plans to convert from legacy enterprise software to cloud-based tools (33.4%), and workload migration from on-premises to the cloud (32.8%).
Top Priority for Cloud Decision-Makers
When it comes to cloud cost optimization, personnel efforts are prioritized by cloud decision-makers. More than half of the companies either hire new staff or retrain their present workforce to better optimize their cloud investment.
Need for Cloud FinOps
Most businesses have not yet adopted cloud FinOps. In a survey of cloud FinOps practitioners conducted in 2022, 37.1% of the 572 participants who provided an answer to the question regarding the maturity level of their cloud FinOps activities said that they were still in the “crawl” stage, or setting up the foundation.
In the “run” level of maturity, when cloud FinOps is regarded as standard operating procedure, only 19.5% of participants were present. By contrast, 41.7% of participants were in the “walk” stage, where practitioners have established practices but have not yet polished them. A “pre-crawl” segment was made up of the remaining respondents.
Immersive Cloud Benefits
Every industry can benefit significantly from the cloud. In 2030, Fortune 500 firms stand to gain access to more than $1 trillion in run-rate EBITDA, according to a thorough analysis of cloud cost-optimization levers and value-oriented business use cases.
Increased Usage of Industry Clouds
The use of “industry clouds” will improve organizational agility, speed up innovation, and shorten time to value. By 2027, more than 50% of enterprises will use sector-specific cloud platforms to accelerate corporate operations. Industry cloud platforms allow users to switch from generic solutions to platforms tailored to their industry’s specific needs.
Prevention of Money and Time Wastage
Automated cloud cost optimization procedures help prevent the wastage of money and time. More than 40% of technical and business personnel use automated policies to rightsize underutilized instances and shut down workloads after hours. Businesses may be guaranteed that automated cloud cost optimisation processes are checking their environments regularly to reduce waste and save time.
Requirement of Strategic Cloud Computing Partners
The three qualities that decision-makers are searching for in a strategic cloud computing partner are as follows. Global tech and business leaders desire a cloud service provider who assists them in identifying technology methods to boost revenue or cut costs, according to the majority (54%) of them.
A “strategic partner” is also defined by 50% of respondents as an individual who “knows where my industry is headed and has solutions for future needs,” and 50% believe it is “having a services organization that helps implement and maintain my infrastructure.”
Statistics according to Artificial Intelligence and Machine Learning
In particular, for the IT positions, 34% of global AI service purchasers selected IT Training as their top service line for AI investment in the upcoming 12 months. Moreover, it is anticipated to rise by 38%.
Reskilling Existing Employees
Instead of just employing new staff with AI expertise, get ready to reskill. According to IDC research, organizations will spend internally on reskilling and the augmentation of current personnel with AI after realizing they can’t only hire data scientists to solve AI talent concerns. The top service line for AI investment in the next 12 months, as selected by 34% of global AI service buyers, is “IT Training or Cloud Certification”.
AI/ML Based Workload Demands
The main workload demand for multi-cloud installations is AI/ML. Today’s tech executives will turn to other cloud providers in addition to their principal cloud provider to obtain the cloud infrastructure they want for supporting AI/ML workloads.
Among the top workloads and/or workload requirements cited by 39% of respondents in an Enterprise Strategy Group study as justification for using additional cloud providers on top of their main cloud provider is AI/ML. Other important requirements include database clustering (33%), worldwide service delivery (31%), and application development and testing (39%).
Increased Digital Transformation
AI and computer developments are accelerating digital transformation and bringing AI closer to being widely used. The majority of organizations will utilize codeless development tools for at least 30% of AI and automation activities by 2024 as AI adoption picks up and the need to keep up with the demand for AI-based services and products grows.
Integration of Automation Tools with AI
Every layer of technology that businesses use to drive automation is incorporating AI. By 2026, 60% of organizations will be utilizing AI-driven features to improve results without relying on technical AI talent across all business technology categories.
Possibility of Increased Productivity
AI can increase productivity for both people and organizations. According to trends, 85% of businesses will use a combination of human expertise, AI, machine learning, natural language processing (NLP), and pattern recognition by 2026 to help increase foresight and boost worker productivity by 25%.
Immature AI Infrastructure
The infrastructure for artificial intelligence within organizations has not matured. The majority of organizations are still in the experimentation, assessment, testing, or prototyping phases when it comes to AI/ML projects, according to study results from the International Data Corporation (IDC).
Only 31% of respondents claimed to have AI in production, and only a third of those claimed to have progressed to a stage of adoption where an enterprise-wide AI strategy helps the whole organization.
Popular among CxOs
AI is being used by CxOs (Chief Experience Officers) to make IT operations run like a well-oiled machine. Nearly 40% of decision-makers are utilizing AI to increase IT operations’ efficiency. This was also mentioned as the most typical use case for AI by CxOs.
Adaptive AI for Aligning with Organizational Goals
Value is accelerated by adaptive AI, which also continuously keeps AI in real-time alignment with company goals. By 2026, businesses that have implemented AI engineering practices to create and oversee adaptive AI systems will perform at least 25% better than their rivals in terms of operationalizing AI models. Real-time feedback is used by adaptive AI systems to learn dynamically and adapt, even to unanticipated changes in the outside world.
Statistics according to Culture Innovations
72% of cloud decision-makers see digital transformation as more than just moving systems from data centers to the cloud and calling it a day.
Fastest Evolution of Digital Transformation
Digital Transformation is evolving in meaning. 72% of cloud decision-makers see digital transformation as more than just a case of lifting and shifting systems to the cloud from data centers.
Increased Investments in Innovations
Over the following five years, organizations want to concentrate their investments on innovation.
About 75% of businesses intend to spend money on new technological platforms that encourage the sharing of innovations. Other notable areas include investing in more innovation-focused training courses (64%), changing hiring practices to include a wider range of perspectives (53%), and improving data collection and analysis procedures (42%).
Improved Customer Experience
Digital transformations are centered on process improvement and improving the customer experience. A little over 47% of cloud decision-makers feel that digital transformation entails streamlining procedures and increasing operational agility, while another 40% say that it entails enhancing customer satisfaction.
Increased Interests in Remote Work
The impact of culture on whether people experience burnout as a result of working remotely is considerable. During the pandemic, the likelihood of burnout on teams with generative cultures made up of members who felt valued and included was cut in half. This result emphasizes how crucial it is to give team and culture a priority. Better teams are prepared to handle more trying times that impose strain on the team as a whole and on individuals.
Diverse Employees Produce Fewer Results
Poor outcomes for both individuals and organizations are being caused by the experiences of diverse employees. According to estimates, 50% of workers have quit their jobs as a result of DEI flaws.
Improved Overall Efficiency
The adoption of cloud computing improves the overall effectiveness of organizations. When compared to colleagues that do not employ cloud computing, IT leaders and practitioners are 14% more likely to surpass organizational performance targets.
Statistics according to cloud infrastructure
Prominent IT Experts Endorse Multi-cloud
More and more businesses are managing their resources in distributed application environments to expand apps to meet the demands of their users.
In 2+ on-premises data centers, 2+ colocation providers, 3+ IaaS providers, and 3+ PaaS providers, the majority of organizations install apps, according to a recent poll by Enterprise Strategy Group. Since 85% of organizations said they run apps across two or more IaaS providers, the multi-cloud era is already in full swing.
Selection of Best Cloud Provider
More organizations are gaining access to the decision-making process when it comes to choosing the best cloud provider. Many people used to believe that the IT department was solely responsible for selecting a cloud provider. However, in the modern era, it is a very strategic choice that involves numerous participants from IT, information security, the C-suite, and more.
An organization’s cloud decision-making is controlled by an average of 3.7 groups. IT Leadership (50%), Information Security (47%), IT Infrastructure and Management (47%), and non-IT Executive Management/C-suite (44%) are the top categories listed as having decision-making authority.
Easy to Deploy New Apps
The prevalent strategy for deploying new apps is to start on the cloud. 47% of organizations across various industries adopt a cloud-first strategy, delivering new applications utilizing public cloud services, when it comes to deployment strategies for net-new apps and workloads.
While 26% of organizations focus on on-premises resources initially but still consider strong arguments to deploy in the cloud, 27% of organizations examine both public cloud services and on-premises resources for new applications.
Customized Flexibility for Industries
Multicloud decision-making is driven by the need for flexibility, and the kind of flexibility that is required differs by industry. The most common justification for using multiple public cloud infrastructure providers is performance flexibility (35%). What kind of prioritization IT leaders care about depends on the industry as well.
For instance, healthcare organizations (45%) appreciate cost flexibility more than other industries. Organizations in the retail (48%) and technology (45%) sectors want teams to have access to their preferred clouds. Businesses in the finance sector (43%) wish to prevent vendor lock-in.
Increased Need for Cloud and Hybrid Cloud
More applications are being moved out of on-premises infrastructures as businesses increase their focus on cloud and hybrid cloud. Technology leaders reported being “mostly cloud” in some capacity in 2022, up from 83% in 2016 and 48% in 2016. They also reported being “mostly hybrid,” up from 40% in 2016. In contrast, the proportion of respondents who indicated they worked “mostly on-premises” decreased by 50% to 7%.
IT Executives Claim APIs Give Their Company an Advantage
Personalized Tools for Operations and Management
The best place to start for operations and management teams using the cloud is by using tools created by cloud providers. 69% of IT decision-makers and leaders have faith that cloud service providers can create more effective solutions for managing their clouds.
Increased Budgets for Cloud Workload
Budgets are rising across all cloud workload categories and internal private and public clouds. According to the 2022 Infrastructure Cloud Survey, respondents expect a rise in IT spending for both internal private clouds and public clouds in 2022 (75 and 77%, respectively).
Extensive Use of Clouds
The utilization of many clouds and hybrid clouds is expanding. In 2022, 26% of users, up from 21% in 2021, said they were using numerous public clouds. Additionally, hybrid cloud usage rose from 25% to 42.5%.
Accelerated Cloud Computing Adoption
Cloud computing adoption is accelerating. Up from 56% in 2021, 76% of users reported using the public cloud in 2022, including several clouds.
Statistics according to Cloud Security
The top investment priority for international organizations in 2023 is cybersecurity.
High Investment in Cybersecurity
Organizations’ top investment priority for 2023 is cybersecurity. For their organization, “cybersecurity” was ranked as the top investment priority in 2023 by about (31%) of the 4,332 global enterprise cloud decision-makers, ahead of AI/ML (20%), data management and/or data analytics (25%), productivity & collaboration (11%), and app and/or infrastructure modernization (12%).
Need for Reliable Cloud Providers
IT leaders claim that data protection and interoperability/openness are the two most crucial features or provisions when it comes to trusting a cloud provider. Enterprise cloud decision-makers believe that “strong capabilities for protecting and controlling my data in the cloud” (40%) and “working well with existing security solutions and other security vendors” (38%) are the top ways that cloud providers can earn customers’ trust.
Importance for Supply Chain Management
Supply chains are becoming a more desirable target since they serve as a point of entry for numerous businesses. In comparison to fewer than 1% in 2020, 17% of security breaches in 2021 were found to have a supply chain as the initial infection vector—the first path attackers utilized to enter an environment.
Importance of Cloud Services for Business and Professional Needs
The main industries being targeted around the world include business and professional services as well as financial services. According to Mandiant incident response engagements, the top five industries preferred by adversaries in 2021 are high-tech, financial, healthcare, retail and hospitality, and business and professional services.
API Security Slows Down Innovations
For many organizations, API security is slowing down innovation. Due to worries about API security, more than half (53%) of organizations have postponed the launch of a new service or application. More than 7 in 10 (77%) of those who have had an incident in the past year have postponed the launch of a new service or application.
Priority for Proactive API Security
Businesses are giving proactive API security measures a priority. Many businesses seek out solutions that enable them to be proactive while easing the load on their security teams to remain ahead of security risks. The top two capabilities on the wish lists of most IT leaders are those that can proactively identify security issues (60%) and increase automation (57%).
Software Security Practices
Cultural factors, not technical ones, are the primary indicators of an organization’s software security practices. When compared to low-trust, high-blame cultures that are more concerned with authority or regulations, high-trust, low-blame cultures that are performance-focused were 1.6 times more likely to have above-average adoption of emerging security practices.
Protection Against Ransomware
The United States might lose ground to Europe as the region most frequently targeted by ransomware. Ransomware continues to have a big negative impact on businesses all around the world.
While sources state that the United States is the country that is the most frequently the target of ransomware attacks, early indications point to a decline in ransomware activity there while it is rising elsewhere.
For instance, the number of victims in Europe is increasing, and if this trend keeps up, Europe will probably overtake Asia as the most targeted region by 2023.
Statistics According to Corporate Sustainability
90% of CEOs concur that technology enables our company to be more environmentally friendly.
Technology Empowers Corporate Sustainability
Top utility executives think that technological innovation will affect the long-term success of their company. Over 91% of survey participants concur that “technology enables our organization to be more sustainable.”
Importance of Sustainable Technology
Sustainable technology will become more and more essential, not just good to have. Performance measures related to the long-term viability of the IT organization will be used by 50% of CIOs by 2025. A framework of digital solutions called sustainable technology can be applied to allow ESG outcomes.
Struggles in Removing Internal Obstacles
Many businesses still struggle to remove internal obstacles that stand in the way of attaining corporate sustainability. Executives were asked to name the biggest obstacles to achieving true environmental sustainability, and the top responses included a lack of investment in the appropriate technology (36%), a lack of knowledge about the problem (36%), an excessive focus on growth and profit (34%), a lack of funding for sustainability initiatives (34%), and a lack of regulatory incentives or political will (34%).
To Reduce Carbon Emissions with Digital Technologies
The entire digital value chain has the potential to reduce carbon emissions with the aid of digital technologies. To create a net-zero economy in Europe, at least 20–25% of the reductions will be made possible by digital technologies.
Economic Growth is a Major Concern
A greater degree of decoupling between economic growth and emissions is associated with digitalization. Between 2003 and 2019, the EU’s most developed digital economies lowered their greenhouse gas emissions by 25% while boosting their economic production by 30%.
Authentic Way to Attain Sustainability
It is difficult to achieve sustainability authentically. Only 36% of CEOs reported that their companies use measurement tools to track their sustainability efforts, and only 17% of those companies use such measurements to adjust their strategies depending on the data.
The transformation of corporate sustainability depends on technology. Nearly 80% of CEOs said that technology is crucial to their planned sustainability initiatives, attesting to its ability to change procedures, socialize activities more widely, and evaluate and report on the outcomes of their work.
We have shared here the most recent trends on topics important to today’s organizational leaders, such as business resilience, corporate sustainability, artificial intelligence (AI) and machine learning (ML), data analytics, cloud infrastructure, cybersecurity, and more. This will aid the C-suite, IT, and business decision-makers in keeping up with trends that are reshaping their respective industries. Get in touch to stay ahead with Chennai’s Tech Scene by understanding the cloud computing trends and innovations. Join SLA Institute to get prepared for the AI era and enroll in our Cloud Computing Training in Chennai.