Cloud technology is a rapidly growing industry. Along with the rise of AI and ML, it’s the focus of expectation and optimism. A new study has found that especially in the UK and Ireland, cloud investment is becoming much more popular as businesses increasingly see it as the route to a productive future.
Is Cloud Investment The Key To The Future?
Recently, cloud providers growth have been slowing but this hasn’t deterred its fans’. 60% of major corporations in the UK and Ireland consider cloud a priority for long-term investment.
According to a recent survey taken by Tata Consultancy Services, 63% of UK and Irish executives say the cloud is a central part of innovation for their organisation’s future. The global average was 59%. The survey had a total of 972 respondents, with 102 of those based in the UK and Ireland. It found that while there was a positive global trend towards cloud investment, it was more pronounced in the UK and Ireland.
Artificial Intelligence
Another hot topic related to cloud technology is AI. The study found 74% of UK and Irish respondents had invested in AI or ML within the last two years. 78% said they intended on starting or continuing these investments in the next 12 – 24 months.
There is constant conversation around this new technology, from fears for humanity, with even OpenAI CEO Sam Altman calling for regulation, to promises of revolution in work, education, healthcare and pretty much any aspect of society you can think of. It’s no wonder that something pitted as the future of life as we know it, for better or worse, is a popular subject of investment.
Cloud Tech For Boosting Workplace Productivity
One of the most popular reasons for cloud investment among the UK and Ireland cohort was its ability to establish ‘new ways of working and improve employee engagement and productivity’(56% agreed). 32% said they are already seeing positive results from their investments.
The study also found that 75% of respondents were using cloud technology to achieve their sustainability goals but 48% were struggling to decipher the carbon footprint of their cloud providers. Perhaps Microsoft’s new Project ESG Lake will make some progress with this.
It’s no question that cloud technology is a new and hotly debated topic. It has lots of room for improvement but plenty of resources and attention to make the necessary reforms. Let’s hope that rather than contributing to the end of humanity, cloud investment is in fact funding a widespread positive change. Do you reckon a growing cloud market is a good thing?
