TWTW Weekly Wrap Up: 23-29 April
Last Week’s Latest
Focused Story Of The Week #1: Cloud Computing Industry Set For Continued Growth And Expansion: Opportunities And Challenges Ahead
The cloud computing industry is experiencing remarkable growth, with enterprises worldwide seeking to eliminate the cost and complexity of on-premise infrastructure, storage, and software licenses. This trend has been accelerated by the COVID-19 pandemic and is expected to continue into the future, with McKinsey projecting that cloud spending will grow at a rate of 12-15 per cent per annum.
Google Cloud, which has been investing heavily in its cloud computing business to compete with Amazon and Microsoft, has now reported profitability for the first time in three years. This is a positive sign that their investments are starting to pay off, and the growth of cloud computing will only increase as new services, such as DnA in cloud and IoT/Edge Computing, continue to emerge.
However, while there are certainly opportunities for growth, there are also challenges that must be addressed. The lack of a clearly designed migration strategy and a mature cloud governance are among the primary concerns that enterprises, hyper-scalers, and service providers must tackle to ensure that they can make the most of the cloud's potential. As the technology matures, however, these challenges are likely to be mitigated.
In conclusion, the cloud computing industry is poised for continued growth and expansion, driven by new services and a focus on verticalization and value realization. While challenges do exist, they can be overcome through careful planning and the development of best practices for migration and governance. As enterprises, hyper-scalers, and service providers alike navigate this exciting and dynamic landscape, the future of cloud computing looks bright.
"As the cloud computing industry continues to grow and evolve, the future looks bright and full of exciting possibilities for enterprises, hyper-scalers, and service providers alike!"
Focused Story Of The Week #2: Embracing The Metaverse: Why 70% Of Indian Executives Are Incorporating Virtual Reality Into Organisational Activities
XaaS, or Everything-as-a-Service, is a business model that has been gaining popularity among businesses. It involves delivering products and services. According to recent reports, 70 per cent of Indian executives are planning to integrate the metaverse into their organisational activities. This trend can be attributed to the significant growth of virtual and augmented reality technologies in recent years. This technology has already been adopted by many industries, including gaming and entertainment. However, its potential to transform the way businesses operate is just beginning to be realised.
One of the main reasons why Indian executives are keen on incorporating the metaverse into their organisational activities is its ability to improve collaboration and productivity. With the metaverse, teams can work together in a shared virtual space, regardless of their physical location. This can reduce the need for travel and allow for more efficient communication and decision-making.
Additionally, the metaverse can also enhance customer engagement and experience. Companies can create immersive virtual environments where customers can interact with products and services in a highly engaging way. This can lead to increased customer satisfaction and loyalty.
Moreover, the metaverse can also provide opportunities for new revenue streams. Companies can sell virtual products and services, such as digital experiences or virtual real estate. This can diversify their revenue streams and create new opportunities for growth.
In conclusion, the incorporation of the metaverse into organisational activities is becoming an increasingly popular trend in India. Its ability to improve collaboration, customer engagement, and revenue streams is making it an attractive option for many businesses. As virtual and augmented reality technologies continue to evolve, it will be interesting to see how companies leverage the metaverse to drive innovation and growth.
"As we enter the era of the metaverse, the possibilities for businesses are endless. Indian companies can unlock a whole new world of collaboration, customer engagement, and revenue growth."
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