Cloud Industry Forum’s latest primary research is, as usual, a must read take on the “State of the Cloud” landscape. Titled “Tough times, but innovation springs internal” here are some highlights and why you should follow the link to download your copy:

Tough times is the global backdrop

82% of our respondents said the current global economic climate had at least some impact on their IT spend. Of those, 30% said that the impact had been extreme while 52% said at least some projects had been put on hold as a result. Add to that 50% said cloud migration had been more complex than expected, and 41% said costs were out of control or too high. That highlights the need for better planning and a focus on cloud economics, and explains the rise of the FinOps topic. But our data shows innovation around AI is a positive, confirmed by the fact that the so-called “magnificent seven” of Apple, Nvidia, Tesla, Microsoft, Alphabet, Amazon, and Meta, all closely associated with AI, collectively increased in market value by 111% in 2023.

Most organisations use more than one cloud

For the first time in over 10 years of research, everyone we surveyed are using cloud services and technology. 48% say they have a cloud-first strategy, and 48% are hybrid.  We live in a hybrid cloud/multicloud world.  

Our data confirms Artificial Intelligence has the fastest new tech adoption ever

Almost all have AI in their plans, but less than 18 months since it exploded on the scene, two-thirds are already using it. To emphasise the point 96% report it will or has already benefited their organisation. We are in a new era, and it doesn’t matter whether we call it the third wave of the Internet, the fifth industrial revolution, or the age of AI, and the innovation couldn’t have matured as quickly, or spread so widely without cloud as the key enabler.

There’s positive news for the planet, but not enough

44% of our survey say they are fully committed to their ESG and sustainability initiatives.  That’s good news for climate change and the environment, but what about the rest?  Unfortunately, our data highlights that cost is still king in the crucible of the selection process. There are some sustainability champions, but as a sector we need to do better, particularly as new AI functions increase the need for computing, storage, and network capacity.

Follow our download link to see the graphs, trends, analysis, and the rest of the story that our data supports, so that you can adjust your operational plans and sales approaches accordingly. The bottom line is that decision-makers and employees are overwhelmingly positive about the cloud’s potential for its flexibility, agility, as an enabler supporting this age of AI, and the positive impact they will have together.

The post Cloud and AI Can Beat the Tough Times appeared first on Compare the Cloud.