Cloud service adoption is prioritized by Indian businesses as the best way to use data, develop digitally new solutions, and achieve their net-zero sustainability goals. According to the Digital Radar 2023 report from domestic IT services provider Infosys, which was released on Tuesday, 23% of the 2,700 survey participants prioritized cloud services as a strategy to maximize their digital transformation projects and obtain returns on investment (RoI).
With each garnering 20% of the vote, business intelligence platforms, artificial intelligence and machine learning, and automation lagged behind the priority given to cloud services.
According to the report, concentrating on the usage of live data may have other effects. Employee retention increased by 24% at the almost 800 organizations that used data to improve their operations, compared to just 17% at those that did not.
The Infosys paper cautions, however, that businesses should carefully assess their security and privacy concerns and create “appropriate security and privacy guardrails” before using “live” data to seek innovation and sustainability targets “.
The decision was made as businesses hurriedly pushed to digitize during the past three years of the COVID-19 pandemic, driving exponential rise in demand for cloud services, including both private and public cloud platforms. In December of last year, market researcher International Data Corporation (IDC) India released a report estimating that in the first half of 2022, public cloud services in India, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS) providers, will collectively generate $2.8 billion. The market is anticipated to increase by 23.1% yearly to $13 billion during the following three years.
According to the report, Rajiv Ranjan, associate research director of cloud and AI at IDC India, “organizations are looking to bring new products and services to the market faster through digital streams and increase their investments in technologies like AI/ML, edge computing, blockchain, and IoT to improve customer experience and business efficiency.”
Industry experts claim that cloud technologies provide demonstrable advantages in infrastructure costs and other areas, prompting businesses to prioritize such expenditures over the introduction of tools and services like artificial intelligence (AI) and machine learning (ML).
The introduction of OpenAI’s generative language tool, ChatGPT, to the commercial market is one recent example of this. Although businesses rushed to integrate ChatGPT’s underlying algorithms into their conversational platforms even before OpenAI revealed its pricing for businesses, industry experts cautioned that most of these deployments were early moves to experiment with outcomes and are thus difficult to be linked to ROIs the way migrating to a cloud platform for a legacy business would have.
