Cloud computing is poised to become a business cornerstone by 2028, according to Milind Govekar, VP analyst at Gartner, Inc.
The technological advancement is expected to shift from being a disruptor to becoming an important component for maintaining business competitiveness in the next five years.
“Organisations are actively investing in cloud technology due to its potential to foster innovation, create market disruptions, and enhance customer retention in order to gain a competitive edge,” Govekar said.
According to Govekar, only a few organisations have unlocked cloud computing's full potential in supporting business transformation, although many have started to seize its technical advantages.
Because of this, organisations tend to use the cloud to launch a new wave of disruption driven by artificial intelligence, enabling them to unlock business value at scale.
Cloud computing as an innovation facilitator will enable organisations to distribute platform business concepts widely by using its underlying platform technology to provide interconnections, scale, aggregation and analysis capabilities.
“By leveraging the ecosystem of cloud providers, organisations can introduce innovative products and services, such as fraud prevention solutions for second-hand cars from tire manufacturers, or rapid vaccine development through cloud-based machine learning by pharmaceutical companies,” said Govekar.
By 2028, most organisations are expected to fully transform into digital entities capable of sensing and responding to business and market conditions.
