Among the key technologies pushing businesses forward today are artificial intelligence (AI) and cloud computing. The numbers back this up. AI, for instance, is projected to be a mind-boggling $407-billion dollar industry by 2027, growing at a projected compound annual growth rate of 37.3% from 2023 to 2030. Cloud services, in the meantime, continue their steady rise, with Infrastructure-as-a-service (IaaS) and Platform-as-a-Service (PaaS) forecast to show the highest end-user spending growth for this year.
The high adoption rates for these two industries are certainly not out of coincidence or sheer luck. Since cloud computing gained significant traction and became mainstream in the late 2000s, it has served as a huge driver of change in how organisations do business. The entry of artificial intelligence and machine learning algorithms have only served to enhance the cloud’s adaptability and its capability to leverage data.