As the business world progress toward digital transformation, many companies are looking for sustainability and business continuity. Cloud base technology is one of many tools used to save time and create flexibility. This blog will list cloud technology trends that are changing the business landscape and the way we do business. BAASS can help you stay ahead of the digital curve.
The Migration to the Cloud
Global spending on public cloud products is growing at an annual rate of 20.4% and will likely reach $600 billion in 2023. The trend of a hybrid workforce is driving organizations to spend an estimated $2.6 billion per annum on cloud migration efforts. (Yifat Perry, The Future of Cloud Computing: 5 Trends You Must Know About) When deciding if cloud technology will benefit your business it is good to consider how the future changes to the business landscape will affect the way your company conducts business.
The Multi-Cloud Movement
The multi-cloud movement is the adoption of diversifying cloud storage across a number of cloud providers. Backing up company data has always been a concern, nowadays companies are opting to store second copies of data in alternate clouds. Multi-cloud storage is the latest popular trend to back up, enforce, and secure your data. It also prevents organizations from becoming tied to one particular ecosystem.
Investing in Cloud Security
Migrating to the cloud brings efficiencies and opportunities, but with the good must come the bad. Cloud technology exposes organizations to a new range of cybersecurity threats and government legislation on how businesses can store and use personal data. Avoiding fines and gaining customer trust is always a top concern when handling sensitive or personal data. As a result, investing in cyber security and building resilience against everything from data loss to the impact of a pandemic on global business will become even more of a priority during the coming year. As economic instability looms, companies are searching for cost-effective ways to secure data. Remember to consider the risk of lost data when shopping for ways of maintaining cyber security.
The AI and ML-Powered Cloud
Artificial intelligence (AI) and machine learning (ML) powered cloud is an advanced service used to gather data and train algorithms that require huge amounts of computing power and storage space. In simpler terms, the computer and cloud work together to store and sort through your data. Over time the systems will self-learn and grow to create more efficient workflows. As technological trends advance cloud service providers are increasingly relying on AI for a numerous number of tasks. In 2023, we can expect to see continued innovation in this field as hyper-scale cloud service providers like Amazon, Google, and Microsoft continue to apply their own AI technology to create more efficient and cost-effective cloud services for their customers (Bernard Marr, The Top 5 Cloud Computing Trends In 2023).
Conclusion
Why consider using cloud technology, many companies may ask, is cloud technology going to benefit my business? The cloud can save your company time and money, but it also requires maintenance. It’s important to understand the benefits and risks when switching to cloud base technology. Hopefully, this blog helped you understand how the current cloud technology trends are changing the business landscape. For all your cloud questions and concerns please click here to speak with a BAASS expert.
