When compared to competitors, a company’s long-term performance and efficiency are determined by its adaptability and scalability. As a result, cloud technologies have swiftly become an important aspect of many sustainable enterprises’ digital transformation. The migration to the cloud will effect more than $1.3 trillion in IT spending, according to Gartner. And, IDG states that corporations will spend 32 per cent of their IT spending on cloud computing this year. Despite the fact that the present rate of cloud adoption varies greatly by industry, most businesses acknowledge the need of moving to the cloud. Fortunately, cloud technologies are already helping businesses automate and optimise processes, as well as respond to unexpected occurrences or client requirements. Pradeep Agarwal Oracle talks about the industries that leverage cloud solutions and what advantages does it provide for companies.
First and foremost, manufacturers use cloud computing to collect and analyse device data, pre-process edge computing resources, and do data modelling for predictive maintenance. For example, this enables businesses to identify deteriorating assets in advance of an event, reducing potential downtime. Manufacturing organisations can also replicate the behaviour and status of the gadget using cloud-based digital twin technology to understand what will happen with its physical counterpart.
And, cloud computing is also used by logistics companies to cut maintenance costs and eliminate the need for hardware support and upgrades. Cloud solutions enable supply chain firms to provide access to their applications to users working from various devices in various locations. In addition, the cloud makes APIs available to third parties in order to improve supply chain visibility and data interchange. Finally, logistics companies can analyse vast volumes of data without having to maintain their own data centres thanks to scalable compute resources.
Furthermore, companies who want to develop autonomous driving solutions like a safe driver system can benefit from the cloud in terms of infrastructure and AI-based technologies. Additionally, suppliers in the automotive industry employ AI and ML solutions to improve facility analytics, maximise uptime, improve first-time quality, and optimise machine productivity. Pradeep Agarwal informs, “Companies receive a completely integrated approach to telemetry thanks to cloud technologies, which makes collecting and executing analytics on vehicle data easier.”
Healthcare data is always regarded as a valuable resource. Medical research is aided by using Big Data analytics and artificial intelligence (AI) algorithms on patient-related data saved in the cloud. As a result of cloud solutions’ improved computational capability, healthcare businesses may more effectively process huge datasets. “Another significant advantage is the use of telemedicine apps, which facilitate healthcare delivery and improve the patient experience at all stages, from prevention to recovery,” says Pradeep Agarwal.
With the advent of blockchain technology, many financial institutions are turning to cloud computing, which allows them to eliminate the middleman and save money by avoiding broker fees. “In the financial business, cloud solutions also include AI-based virtual agents who can communicate naturally with clients and provide professional help to human agents when instances are more difficult,” says Pradeep Agarwal. Finally, cloud APIs are used by financial services to contact customers through new digital distribution channels and supply novel solutions.
Cloud computing aids legal professionals in managing a variety of briefs, discovery papers, depositions, and contracts. Legal firms utilise automation and natural language processing (NLP) apps to help lawyers find the information they need quickly. This enables for faster and more accurate decision-making. Furthermore, contract review apps that combine machine learning (ML) technology with workflow capabilities and interact with existing contract management tools may be available.
Cloud technologies make it possible to support corporate activities from remote locations in scalable and elastic ways. Meanwhile, the cloud’s foundation is built on extraordinary data computation and storage capabilities. These services are also safe, according to Salesforce, as 94 per cent of enterprises report significant gains in internet security after migrating their data to the cloud. Finally, the cloud gives several benefits to industries, such as lower innovation costs, proper machine application, data insights, and operation simplification.