The Asia Cloud Computing Association (ACCA) has predicted that the cloud market will undergo a huge transformation shortly, with Artificial Intelligence (AI) likely to play a key role.
- ACCA Chairman Bernie Trudel believes that though the cloud-based AI market is only worth 1 percent of the global market for cloud computing at present, with a year-on-year growth rate of 52 percent, it will rise to 10 percent of the total market by 2025.
Trudel addressed the Cloud Expo Asia conference in Singapore this month and discussed industry trends in cloud computing.
Mutually Interdependent
A study commissioned by a global leader in cloud computing has inferred that AI and cloud will not just be essential but also interdependent. Over three-fifths of the technology’s early adopters believe that AI is of great importance to their organizational strategy and success.
On similar lines, 90 percent of the early adopters acknowledge the importance of cloud services in AI initiatives. Most respondents use Software as a Service (SaaS) and Platform as a Service (PaaS) to develop and deliver AIOps solutions.
Market Forecasts
Premier market intelligence firm IDC has also predicted increasing growth for AI software platforms. “IDC forecasts the overall cognitive/AI software platforms market to grow significantly through 2021, exceeding $8 billion in revenue, with a CAGR exceeding 39 percent.” ‘says David Schubmehl, Research Director at IDC.’
IDC Chief Analyst Frank Gens noted, “Customers are shifting to a ‘cloud first’ strategy for updating/replacing traditional systems and to ‘cloud only’ when developing their next-generation competitive advantage systems and services.”
He also suggested that without the cloud as the foundation, third-platform technologies such as big data and analytics, the Internet of Things (IoT), and cognitive/AI technologies are impossible.
Global tech experts are nearly unanimous in their opinion that AI capabilities will vastly improve with the ever-increasing development of cloud technology.
The Way Forward
Please contact Veritis at connect@veritis.com for more insights and responses to queries on Cloud Computing.