New Delhi : Companies in India prioritize the adoption of cloud services as the number one way to access data, create digitally innovative solutions using data and meet their net-zero sustainability objectives. According to the Digital Radar 2023 report by domestic information technology (IT) services firm Infosys, published on Tuesday, 23% of 2,700 survey respondents cited technology as a way to make the most of their digital transformation programs and achieve return on investment (ROI). Cloud services preferred.
Business intelligence platforms, artificial intelligence and machine learning, and automation were close behind the priority set for cloud services, with all receiving 20% of the vote.
The focus on the use of live data could have other implications as well, the report said. Of nearly 800 companies, those that used data to improve their operations saw a 24% increase in employee retention, while only 17% of those that didn’t saw an improvement in employee retention.
However, the Infosys report warns that before using ‘live’ data to seek innovation and sustainability goals, companies should carefully consider their security and privacy risks and put in place “adequate security and privacy guardrails”. should be adopted.
The move comes as demand for cloud services, including both private and public cloud platforms, witnessed exponential growth as businesses increasingly sought to digitize through the last three years of the Covid-19 pandemic. A report by market researcher International Data Corporation (IDC) India in December last year said that public cloud services, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS) in the country Providers included. , cumulatively accounting for $2.8 billion in the first half of 2022. This segment is expected to grow at a rate of 23.1% annually over the next three years to reach $13 billion by 2026.
With a growing need to drive digital innovation, “organisations are looking to bring new products and services to market faster through digital streams,” Rajeev Ranjan, Cloud and AI and Associate Research Director at IDC India, said in the report. Investing in technologies such as AI/ML, edge computing, blockchain and IoT to improve customer experience and business efficiency.”
Cloud technologies, according to industry experts, offer clear advantages in infrastructure costs and other areas, prompting companies to prioritize such investments over deployment of tools and services such as artificial intelligence (AI) and machine learning (ML).
One such clear example of late has been the arrival of OpenAI’s generative language tool, ChatGPT, in the enterprise space. Companies have rushed to adopt the integration of ChatGPT’s underlying algorithms into their conversational platforms even before OpenAI has announced its pricing for businesses, but industry experts caution that most of these deployments are too early to experiment with the results. These were initial steps to be taken, and hence it is difficult to link to RoIs. A legacy business needs to migrate to a cloud platform.
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