Cloud computing's future development
As technology evolves in our modern world, companies and individuals approach data processing rapidly. One of the most important changes in recent years has been the rise of cloud services which should become even more common in the coming years.
At the 2022 ETCIO Cloud and Data Center Summit, Jaspreet Singh, Partner and Client and Market Leader at Grant Thornton Bharat LLP, discussed the latest trends in cloud technology and their implications for the future.
One of the main trends highlighted by Singh is the exploitation of opportunities. With cloud services, companies are no longer limited to traditional testing and product launch methods.
The moving pace of technology requires companies to act quickly and take advantage of the opportunities presented to them. Singh cites the example of Zoom, a video conferencing software that has risen in popularity since the pandemic. The company's value rose from $5 billion in January 2020 to approximately $3 billion and is now worth more than the three largest US airlines.
Singh explained that this happens when you put a product in the cloud and make it easy for everyone to use.
He emphasised that companies must be flexible and responsive to succeed in the rapidly evolving world of cloud services. In the past, companies would spend months or even years testing new products before launching them, but in today's world that is no longer possible.
Gone are the days of spending three months or six months before testing your product and your competitor comes up with a product in the blink of an eye, and then you're always trying to catch up.
Another trend is the growing shift towards modernising legacy applications and moving them to the cloud. The growth of cloud computing has led to an increase in cloud security.
Companies are increasingly aware of the need to protect their data and prevent data breaches. Security should never be an afterthought and companies must make it a priority to avoid the negative consequences of a data breach. The focus on safety is always there. It cannot be an afterthought.
Modernising the Move to the Cloud
In addition, as companies adopt cloud technology, the demand to modernise database applications and improve cloud security continues to grow.
According to a study, 85% of organisations are expected to adopt a cloud-based approach by 2025. It is believed that this trend is feasible in India as more and more companies are adopting cloud technologies. Hopefully, by 2025 everything will be in the cloud, from work and personal computing to data storage and communication.