What was once a business enabler is now core to many emerging business models. We are talking about cloud computing, which has become a foundational resource for businesses and governments alike as they strive to harness emerging technologies such as 5G, AI, and IoT. There is cloud innovation happening wherever you look. Mobile internet powerhouse South Korea is turbocharging its cloud services development with split-second 5G broadband technology, while India aims to put the power of digital tools in the hands of its people, building applications that undergird Indian social and economic life.
Singapore, Finland, and Sweden are the nations deploying cloud most effectively, reveals the Cloud Ecosystem Index 2022, a survey by MIT Technology Review in collaboration with Infosys Cobalt (a set of services, solutions and platforms from Infosys for cloud-powered transformation). “Data gathered from the Index validates that now, more than ever, there is urgency for enterprises and policymakers to go to the cloud, as it can create a positive economic impact,” says Ravi Kumar S, president of Infosys.
The Index ranks 76 nations and territories on the technology, regulations, and talent they use to promote cloud computing services by consolidating scores on four themes: infrastructure, ecosystem adoption, security and assurance, and talent and human affinity. The Index gave Singapore the highest score (8.48/10) for overall cloud innovation, with Finland (8.46/10) and Sweden (8.43/10) ranked next.
“India is one of the leading nations among emerging economies in the “talent and human affinity” category of the index, which means it has a large pool of interoperable talent and skilled workers for implementing infrastructure and process-intensive projects at scale,” says Narsimha Rao Mannepalli, executive VP, head – Cloud Infrastructure and Security Solutions, Infosys. “In India, we are seeing significant penetration of powerful cloud-based economic tools, which are delivering tangible results quickly,” he adds. Cloud is no longer just a cost lever for managing infrastructure variability, but a value lever for business growth through differentiated capabilities, better customer experiences and enhanced business agility & scalability.
Recently, Gartner had predicted that 51% of IT spending (in application software, infrastructure software, business process services and system infrastructure markets) will shift from traditional solutions to the public cloud, compared to 41% in 2022. Mannepalli reckons that in their transition, enterprises are looking for highly configurable industry-specific components that can be rapidly integrated. “We are helping business leaders create platforms. These strategic investments are key to enterprises competing with emerging startups and born-in-the-cloud companies.”
But firms do face some challenges in this transition, like enterprise process and regulatory and compliance needs that are not amenable to rapid change. “Infosys, through its Cobalt cloud offerings, is bringing in experiences and solutions, and helping clients adopt new technology and processes and upskill people, while minimising the risks of the transformation.”
Mannepalli points out that multi-cloud and hybrid cloud is being adopted as a strategy to create maximum value for enterprises, leveraging the best of the capabilities offered by cloud providers. For long-term success, it is important to build a model that is flexible and can adjust to future changes in customer expectations, regulations, business objectives, and cloud capabilities, he adds.