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Cloud Computing Trends That Will Define 2024

The cloud computing market has seen a revolutionary shift in the last year, driven by the introduction of AI technology, continuous economic challenges for companies to achieve effective outcomes, and growing data legislation governing security and privacy.

Are you faced with the same? No worries — you are not alone. To help you deal with all these changes and get new development possibilities, we have prepared the key cloud computing trends that will change the software development game. If you are already on top of things, there is nothing better than reaching out to a cloud development company to help you launch an outstanding high-tech app.

Key Takeaways

  • Cloud spending will massively increase in 2024, driven by the widespread adoption of generative AI applications like ChatGPT and Google's Bard. Enterprises will pay much more to move mission-critical apps to the cloud.
  • Businesses are embracing hybrid and multi-cloud strategies, but stitching together different cloud environments seamlessly remains complex and expensive. Software-defined cloud interconnection and network-as-a-service solutions will help simplify multi-cloud management.
  • AI-as-a-Service will emerge as a major trend in 2024, making powerful AI accessible to all businesses. However, supporting the rise of generative AI will require significant infrastructure adjustments from cloud providers.
  • New regulations governing AI use will appear globally in 2024 as more countries secure their digital borders. Keeping up with the ever-changing legal environment around data localization will be challenging for businesses.
  • The exponential growth of data is making networks vulnerable. Companies must carefully analyze the security and resilience of their network infrastructure before transitioning to private network environments.
  • A widening skills shortage for cloud and AI talent like data scientists and analysts will lead more businesses to pivot to managed services solutions in 2024.

1. Massive Increase in Cloud Investments 

We know the sustained and significant expenditure growth on cloud computing infrastructure. They all will be fueled in part by the widespread use of generative AI applications, including big language models like OpenAI's ChatGPT and Google's Bard. As a result, enterprises will pay much more to move their mission-critical apps to the cloud, allowing most, if not all, of their operations to coexist inside a multi-cloud architecture. This shift will increase firms' agility, innovation, and efficiency.

However, sending large volumes of data into and out of cloud settings will provide substantial hurdles in terms of data security and privacy. This is especially relevant if you use the public internet, which will likely increase demand for private connection solutions.

2. Simplified Networks

While more businesses are adopting a hybrid or multi-cloud strategy, how they will seamlessly integrate these cloud environments is still being determined. This can be highly complex, expensive, and full of data sovereignty and governance issues.

As a result, significant businesses will investigate how they may simplify their network architecture to minimize unused resources while preserving high-speed performance and connection. This drives the emergence of Software Defined Cloud Interconnection (SDCI) and network as a service (NaaS). Both solutions can monitor and maintain a secure and private network on their behalf, allowing organizations to manage multiple cloud services from a single administration interface.

3. AI as a Service

Every company is now asking the same question: How can they integrate these AI technologies into their operations? Since AI requires lots of data and processing power, we expect to see an increase in AI as a service (AIaaS), which allows organizations without the resources or technical competence to use AI tools via a cloud provider.

4. Stricter AI Rules

In 2024, we will confront new and stricter restrictions limiting the use of AI worldwide as more governments secure their digital borders. The EU's AI Act is the most crucial one to mention. Specifically created to address the concerns of AI governance, the legislation specifies the number of rules aimed at protecting “the health, safety, and fundamental rights of EU citizens and beyond” and is projected to have a significant global influence.

Keeping up with this ever-changing legal environment will be difficult. And understanding data localization inside jurisdictional borders is becoming more critical. With the exponential growth of information and data sources becoming increasingly fragmented and scattered, businesses must find a solution. If their networks are not secure, flaws will quickly surface.

5. Data Security and Privacy

Security will undoubtedly be at the top of everyone's goals in 2024. The issue is no longer if a data breach will occur but when it will happen. These cyber-attacks will rise in the coming years, particularly when hackers use AI-powered approaches to access your data. Personal data protection will be the primary concern. Therefore, companies will need to carefully analyze the security and resilience of their network infrastructure before deciding whether to transition to a private network environment. 

6. Addressing the Skills Shortage Dilemma

While companies will hurry to integrate AI technology into their network architecture by 2024, the path to an automated future may not be as simple as it looks. It requires a highly competent staff capable of maintaining and monitoring many data assets while deriving valuable insights from them. This is where the issue is. There is a high need for data analytic expertise and the ability to train AI models, yet there is a growing skills shortage that is increasingly important. Of course, you solve that by simply ordering services from a gen AI development company.

The financial, retail, healthcare, and telecom industries are all trying to find data scientists, data analysts, and software developers with the necessary capabilities to capitalize on AI's benefits. With crucial skills in short supply, we believe we will see more firms adopt a managed services model in which everything in their network is handled outside by a team of technical specialists.

What’s the Future?

Businesses will not have to worry about security, connection, or data privacy problems, nor will they have to rework their existing infrastructure to improve AI performance. All they have to do is plug in and play, which is an enticing proposition.

Essential Industry Insights for Further Reading

  • Gartner Forecasts Worldwide Public Cloud Spending: Gartner predicts global public cloud spending will reach nearly $600 billion in 2023, driven by organizations seeking innovation, cost savings, and enhanced customer experiences.
  • McKinsey & Company's Top Trends in Tech: This comprehensive report by the renowned consulting firm explores the most significant technology trends shaping industries, including the rise of AI, cloud adoption, and the importance of cybersecurity.
  • IDC Forecasts Worldwide “Whole Cloud” Spending: International Data Corporation (IDC) predicts that worldwide “whole cloud” spending will surpass $1.3 trillion by 2025, highlighting the growing importance of cloud infrastructure and services across industries.
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