How is Cloud Computing Fuelling Technological Advancement?

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We live in a world that is constantly evolving; each organization needs to transform from time to time to constantly adapt to the changing internal and external environments, deeming technological advancement, a means of survival. In this uprising, cloud computing plays a key role in acting as a catalyst for this technological advancement.    

These days companies are evaluated based on their customer experience; organizations that are empowered by the cloud and have cloud-delivered business models can implement innovative channels to offer exemplary customer experience by differentiating their solutions and strategy from their competitors.

Cloud Computing Statistics
Source: Couldwords

Note: The power of cloud computing is evident from its numbers

What is cloud computing?

Before understanding the impact of cloud evolution on technological progression, let us take a look at what cloud computing actually means. It is the process of maintaining, storing, managing, processing, analysing and securing data via a grid of internet-based servers. Since data is not saved on physical devices and is instead stored in the cloud, businesses can access this data from anywhere, improve their management, streamline and simplify processes, increase productivity, augment costs and boost customer experience.

There are three types of cloud computing based on the service type:

Software-as-a-Service (SaaS) – A third party cloud provider such as Google, HubSpot or Dropbox makes software applications available over the internet, to customers globally for a subscription fee.

Infrastructure-as-a-Service (IaaS) – providers offer their users cloud-based substitutes in place of on-premise infrastructure to prevent them from having to invest in costly on-site resources. They offer networking, pay-as-you-go storage and virtualization services.

Platform-as-a-Service (PaaS) – consists of a third-party vendor offering software and hardware tools such as security, storage, scaling, network components, data centre space or servers. The end users develop applications using these tools.

The cloud computing evolution has been in process for over two decades. To start off with, cloud computing technologies were primarily about SaaS. With the rise of PaaS and IaaS, cloud computing became more prevalent and valuable for enterprises.

Regardless of how our technology consumption changes, the technology patterns remain the same. Whether you are storing data in your enterprise network 12 feet away or in the internet cloud 1200 miles away, at the end of the day it is storage.

Impact of cloud computing on technological evolution

Experimental style due to faster procurement:

Cloud computing empowers businesses to go for the ‘hit and trial’ method. Until a few years back, software and hardware procurement took forever. With cloud computing, businesses now have the option to experiment with technology and figure out if a solution is truly valuable or not.

Be it data analytics, artificial intelligence, enterprise mobility, accounting system or any expensive technologically advanced system, one can try it at affordable rates to determine what works and what does not. It would burn a hole in your pocket if you tried this with old-school hardware and software systems, not anymore.

Enhancing digital business transformation

These days, the buzzwords that you here often are Machine Learning, Artificial Intelligence, Internet of Things, Big Data Analytics and rightly so, because these technologies are what are driving business transformations through seamless operations, unmatched speed, enhanced and automated business processes. These digital transformation processes are a ‘must have’ to remain relevant and enhance customer experience.

But what is driving this integration? Yes, it is cloud computing. These technologies require a lot of storage space and high computational power, & cloud computing acts as a facilitator to integrate them. 

In 2021, $58.3 billion is expected to be spent on AI, which will rise to $309.6 billion by 2026. Many organizations are adopting machine learning which act as the basis of multiple cloud technologies today, to automate their processes. [1] This demonstrates the sheer indispensability of cloud computing technologies!  

Agility in developing and fixing cloud-based services  

Cloud computing has transformed how technologies mature. Gone are the times of version numbers when one waited months, sometimes even years to get the required fixes and features. Today with cloud computing, the feedback from users has become instant and the cloud service providers are agile in their responses & solution providing.

They leverage their speedy development processes and put their DevOps team to task to resolve the issues and add the required features. To keep up with the accelerating pace of technological advancement, most of the fixes and features are also readily available.

Empowering the distributed workforce to work seamlessly

While remote working and dispersed workforce trends were on the rise even before the pandemic, it did play a role in engraining this style of working. How we consume technology today is very different from how we consumed until a few years ago. Organizations understand the distributed power of cloud computing, especially with the increasing numbers of remote workers.

Cloud computing offers governance, security and operations that can support a distributed workforce naturally. The cloud was built on the premise that its services could be omnipresent and accessible from any part of the world.  

All in all, cloud computing is vital and this internet technology is being adopted by almost every business to keep up with and stay ahead of time. A recent study from Markets and Markets states that the impact of the pandemic globally on the cloud market size is expected to grow to USD 295 billion by 2021, growing at a CAGR of 12.5% [2]. This growth is owed to the repercussions of Covid-19 such as remote working and the need for cloud based business continuity services and tools. This sector has been on a swift rising trajectory since the pandemic and is only expected to go higher. 

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