Navigating The Future: Cloud Trends and Predictions 2024

Navigating The Future: Cloud Trends and Predictions 2024

What does the future of clouds look like in 2024?

Here’s what Sandeep Bhargava, Managing Director Asia Pacific and Japan, Rackspace Technology, has to say.

As we approach 2024, AI’s evolution in the cloud market has ushered in a new era of innovation, reshaping infrastructure, services, and market dynamics, fostering sector-specific adaptation and technological synergies. This evolution continues to influence industry competitiveness and service offerings in cloud computing.

According to Forrester, technology spending in Asia Pacific (APAC) will grow 5.8% to reach US$732 billion in 2023. Seventy-four percent of growth will come from software and services as cloud adoption in the region increases. IDC also predicts that cloud-based spending by Asia Pacific and Japan (APJ) digital-native businesses is expected to hit US$26.5 Billion in 2024.

What does the future of clouds look like in 2024?

Democratising the use of Generative AI – IDC forecasts more than half of digital native businesses in APJ will increase their technology spending by up to 20 percent in the next 12 months, prioritising the latest technologies, such as generative AI and cloud platforms, to remain competitive, create innovative products, and maintain their financial viability. In the rapidly evolving landscape of AI, companies of all sizes are actively ideating and experimenting with generative AI. The convergence of cloud computing, easily accessible pre-trained models, as well as the open-source nature of advancements will propel its accelerated use, establishing a robust foundation in 2024 and in the coming years.

Additionally, the adoption of natural language models will expedite AI’s reach, transcending from being solely within the domain of technologists to a widespread application. The focus on ethical usage, encompassing accountability, reliability, explainability, security, and privacy, will persistently grow, paving the way for policy implementations and solutions in these critical areas.

The Rise of Cloud Platforms –The evolution of cloud platforms marks a pivotal shift. With increasing industry adoption, there’s a notable migration of applications from data centres to the cloud and a surge in software utilisation. As traditional sectors embrace cloud technology, a new phase emerges – Industry Cloud Platforms – as termed by Gartner. These platforms are tailored to specific industries in a manner that streamlines the consumption of industry-specific solutions while adhering to unique regulatory and operational constraints. This evolution enables industries to leverage cloud resources more effectively for their distinct needs. Particularly, the rising demand for cloud services in Malaysia prompted the government to sanction the construction of fresh data centres by Amazon Web Services (AWS), Google Cloud, Microsoft Azure, and Telekom Malaysia within the country, aligning with its cloud-focused approach and the Malaysian Digital Economy Blueprint.

Urgency to Address Sustainability Challenges – The extensive adoption of technology has the potential to contribute to carbon emissions due to the extensive use of computing and storage, demanding substantial electricity for operation and cooling. Nonetheless, the industry has been very cognizant of these implications, fostering organic initiatives spanning various areas to promote sustainability in all facets of technology. This heightened awareness is propelling the community to innovate digital solutions aimed at facilitating Environmental, Social, and Governance (ESG) outcomes for companies. Cloud technology can drive efficient innovation and sustainability processes within organisations to address environmental challenges. Proper planning and tweaks in cloud technologies allow organisations to scale IT capacity for present and future competitiveness.

Over the past decade, cloud-native technologies have transformed enterprise IT. In the next decade, we’ll see the rise of the intelligent composable cloud. Customers will compose their own clouds — not only for IT but also for operational technology (OT), commercial, and consumer cloud capabilities — and cloud providers will adapt by allowing users to compose services by industry, role and use case.

Click below to share this article

Browse our latest issue

Intelligent CIO APAC

View Magazine Archive