Demand for cloud services is expected to be greater than ever in 2024 as technologies such as artificial intelligence (AI) and machine learning (ML) continue to shape various aspects of infrastructure, services, and market dynamics. Alongside these developments, breakthroughs in cloud computing are making it more accessible and economic for organisations of all sizes and across various industries.
This is apparent in India where local enterprises are projected to increase their IT budgets next year by 10.7 percent, or from USD 112.5 billion to USD 124.6 billion, after a 0.5 percent decrease from 2022 to 2023.
In general, the search by businesses for the next competitive edge is expected to fuel greater cloud investments next year. Specifically, the democratisation of generative AI, greater emphasis on sustainability, and the impact of generative AI on cyber security will make cloud adoption necessary to remain competitive in 2024 and beyond.
Trends to watch out for in 2024
Through the widespread availability of cloud computing, pre-trained models, natural language models, and open-source tools, organisations of all sizes will be able to engage in the ideation and experimentation of generative AI use cases. For businesses looking to leverage generative AI, the time to move to the cloud for businesses was yesterday.
While the focus of generative AI is on content generation and human-like conversations, 2024 will see an expansion of applications to robotics and automation. The integration of all three technologies presents a massive opportunity for those in Indian manufacturing, logistics, and healthcare, in particular, but hinges on modernising infrastructure first.
Meanwhile, the growing utilisation of computing and data storage technologies will drive up energy consumption for power and cooling, as well as increasing carbon emissions. But with more decision-makers and investors emphasising sustainability as equally crucial as the bottom line, cloud service providers’ efforts to make their operations more sustainable will gain momentum. More importantly, these will result in solutions that will boost their customers’ environmental, social, and governance (ESG) outcomes.
Another challenge presented by developments in generative AI involves the use of the same technology by cyber criminals. Organisations should not be neglect AI -powered advancements in cybersecurity. The deployment of advanced threat detection systems, encryption technologies, and an increased focus on data privacy and protection are vital in addressing growing concerns in the face of maturing cloud technology.
Capitalising on 2024 trends through managed cloud services
To harness the full potential of generative AI, robotics, and automation, organisations of all sizes need to modernise their infrastructure and leverage the power of the cloud. Managed cloud services enables IT teams to migrate to the cloud without bloating their budgets through hardware and software purchases, along with recruitment of additional talent. Aside from economic considerations, managed services providers can also ensure that businesses can meet ESG goals and improve their security posture from ever-growing and ever-evolving cyber threats.