Top-performing companies show annual profit growth correlated with cloud usage in six different ways, study found
Efficient cloud adoption can generate new net annual profits of $ 414 billion for global companies, according to research from Infosys.
The study found that top-performing companies had annual profit growth from using the cloud in six different ways: accelerating the development and launch of new solutions, adding new functions to existing software, increasing capacity processing, foster collaboration, unleash value from data through AI, and discover new revenue streams.
The survey covered a range of cloud-related business performance goals and found specific links to skills such as speed to market and capabilities. A strong profit link has been identified when using the cloud to quickly bring new solutions and services to market, Infosys said.
Over 2,500 respondents from companies in all geographies took part in the survey conducted by the Infosys Knowledge Institute (IKI), a research arm of the Technology Major. By 2022, more than 40% of companies surveyed plan to migrate more than 60% of their systems to the cloud, up from 17% today, according to the study.
The benefits generated by the cloud could be achieved by companies in any region or industry, but the real effect on profits only occurs when companies have at least 60% of their systems in the cloud. To benefit from AI in the cloud, the bar was even higher at 80%, he reported.
Ravi Kumar S., President of Infosys, said: âEfficient use of the cloud is a pillar of transforming digital journeys. The original cloud was a tool for businesses to scale quickly while the modern cloud allows businesses to innovate quickly. Today’s cloud creates a network effect across processes, data, content, experience and more. ”