Category Archives: Cloud Computing
3 common myths about sustainability and cloud computing – InfoWorld
Sustainability is a genuine objective for many enterprises, driven by their desire to be good stewards of the planet. Other companies want to hit a specific ranking to attract more customers and investments. Regardless of the reasons, enterprises now look to cloud computing to lower costs and provide good ESG (environmental, social, governance) scores. Many pitch cloud computing to decision-makers as a technology that will help an enterprise meet sustainability objectives because cloud computing is green.
Dont take that statement at face value. Many assumptions about sustainability and cloud computing are just wrong. Lets bust some of these green myths and look at the realities of cloud computing as a technology that can drive sustainability.
Myth #1: Cloud computing is inherently green. Although cloud computing can reduce energy usage and carbon emissions, it is not automatically green. Cloud computing still requires energy to power data centers and maintain infrastructure, and not all cloud providers use renewable energy or implement energy-efficient practices.
You must look beyond the word cloud to gauge a systems sustainability. For example, if you audit a particular cloud computing implementation, you might find that on-premises systems are more carbon-neutral than many public cloud implementations, depending on what powers these systems. Some cloud deployments use coal-fired power, and some traditional systems within an enterprise data center use renewables.
Myth #2: Sustainability is based on the power consumed by the providers platforms and infrastructure. This myth lets the developers, system designers, cloud architects, and even infrastructure engineers off the hook in the fight to reduce emissions. Thats a problem.
The efficiency of applications and systems running on cloud platforms determines power consumption. Lets say you have two applications, one designed for power efficiency and one not. The application designed for power efficiency might consume one-fourth as much power as the application that did not undergo efficiency testing.
The good news? Many devops processes and toolchains now include power efficiency checks (which often align to cost efficiency checks) as part of enterprise finops programs.
Myth #3: Its the cloud providers job to provide a carbon-neutral platform and infrastructure. Much like security, sustainability is a shared responsibility model. The cloud provider certainly plays a role in that you cant control how they consume or manage power. You must trust their decisions. However, its the job of the enterprise to validate and verify the sustainability of each cloud provider they use, as well as to do their own work to ensure that their systems are near 100% in terms of energy utilization.
Im surprised at how often cloud computing pros push the responsibility for sustainability to the cloud providers. It just does not work that way. Suppose you choose a cloud provider that does an excellent job leveraging renewables. Your enterprises inefficient use of cloud resources and overprovisioning of those resources could easily counter any sustainability gains.
Well get better as time progresses. However, the most dangerous challenges to cloud and sustainability are common misunderstandings that become assumed truths.
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3 common myths about sustainability and cloud computing - InfoWorld
Amazon set to train 10,000 locals on cloud computing – Business Daily
Tech giant Amazon will train at least 10,000 learners from 10 universities in Kenya.
Tech giant Amazon will train at least 10,000 learners from 10 universities in Kenya in an initiative meant to bridge the cloud computing skills gap that has led to talent poaching in recent months.
This follows a deal between the firm's computing arm Amazon Web Services (AWS), which is one of the major dominant cloud providers around the world, and the Kenyan government through the ICT Authority.
These skills will prepare learners for careers in cloud administration, database management, Artificial Intelligence (AI) and machine learning, cloud support engineers, cloud security analysts, cloud network engineers, cloud software engineers, cloud data scientists and cloud architects.
ICT Principal Secretary John Tanui said the move is aimed at ensuring Kenyans are getting the skills and being open to opportunities in the global space.
He said this will enable them to exploit chances available online and earn a sustainable income.
ICT authority boss Stanley Kamanguya said issues of skills at both the county and national levels of government have come out strongly during the summit and would need to be addressed.
We need to build a digitally enabled workforce if we are going to achieve and realise the dream of a digital economy, he said.
He said the skills will be placed on individuals in the public sector workforce and also on citizens who need to be trained on how to consume the services that are put online and utilise the infrastructure for economic gain.
AWS Regional Lead for West, East and Central Africa Robin Njiru said that after the training, the youth will be linked to job opportunities across the world.
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Amazon set to train 10,000 locals on cloud computing - Business Daily
Amazon: Navigating The Cloud, AI, And Payments Revolution (NASDAQ:AMZN) – Seeking Alpha
HJBC
At the beginning of the year, we wrote a bullish article on Amazon.com, Inc. (NASDAQ:AMZN) highlighting the company's unique ability to surmount the challenge of labor shortages by leveraging automation. With a satisfying 20% rally year-to-date, we now approach the earnings season and are taking this opportunity to delve into two key topics - AWS and AI, and Payments - and refresh our financial analysis. Buckle up as we embark on a journey to explore the potential impact of AI/ML on Amazon's AWS division, and how Buy with Prime (BWP) could reshape the e-commerce landscape.
The growth of AI and machine learning applications has been a key driver of the next-generation computing landscape, which has led to increased investor interest in Amazon's AWS (Amazon Web Services) division. This increased focus is due to AWS's competitive positioning and the potential impact of macro-driven customer spend optimizations on its net revenue growth.
In this context, it's important to consider how AWS is well-positioned to benefit from the growing adoption of AI/ML in enterprise and consumer computing applications. AWS offers a comprehensive suite of tools and services for various applications, and as enterprises increasingly integrate AI/ML into their technology stacks, hyperscalers like AWS stand to benefit from the increased demand for compute resources required to train and generate model outputs.
The forward catalysts for Amazon shares are likely to be a combination of factors, including the bottoming of revenue deceleration for AWS, a return to pre-pandemic operating margins for its North American eCommerce operations, and stability in the consumption habits of Amazon Prime households in the coming quarters. We believe that the optimization theme, characterized by customers pulling back on cloud spending amid economic uncertainty, may have peaked around 2023 economic concerns and budget planning in late 2022. Previously, instead of increasing their budgets, customers chose to optimize their existing spending, focusing on getting the most value from their current investments in cloud services. As customers shift away from optimization, this could potentially indicate a turning point for AWS, as enterprises may soon start to increase their investments in cloud computing and related technologies once again.
Long-term potential for cloud computing remains strong, as evidenced by Amazon's $110 billion revenue backlog that grew 37% YoY. The integration of AI/ML tools into tech stacks to drive core businesses is expected to benefit both growth and margins for cloud providers like AWS, especially as the significant volume of compute required for large language models (LLM) and generative AI tools becomes more prevalent.
To further optimize its operations, Amazon recently announced its intention to eliminate 9,000 positions across AWS, Advertising, People, Experience and Technology ("PXT"), and Twitch. These headcount reductions, which follow a previous reduction of 18,000 positions, are expected to result in annual savings of around $2.2 billion. This move is anticipated to protect AWS EBIT soon and drive better long-term leverage.
Buy with Prime is a promising service that allows retailers with online stores outside the Amazon platform to leverage Amazon's best-in-class warehousing, fulfillment, and payment solutions. With over 200 million Prime subscribers and a significantly expanded fulfillment capacity, Amazon is well-positioned to capitalize on this initiative and transform the e-commerce landscape.
BWP offers significant benefits for consumers by providing free 1/2-day shipping for Prime customers on participating retailers' websites. Our analysis suggests that BWP could lead to a substantial increase in checkout conversion rates, by 25% on average, as it addresses consumers' pain points related to minimum thresholds for free shipping. This is likely to result in higher sales conversions and a more satisfying shopping experience.
For merchants, BWP simplifies inventory management, payment processing, storage, packing, delivery, and return policies. Merchants can selectively offer BWP for specific products and use one pool of inventory to fulfill both Amazon orders and BWP orders. This flexibility streamlines the fulfillment process and addresses a significant pain point for merchants, especially with regard to return fees.
If successful, BWP represents a $50 billion opportunity in the U.S., tied to a $200 billion Gross Merchandise Value (GMV). We estimate that Amazon's net take-rate for BWP is around 22% of GMV, which, although seemingly high, compares favorably to other competitive fulfillment services such as Shopify's Fulfillment Network. Merchant adoption is likely to be closely tied to conversion rate improvements and simplified cart functionality.
Buy with Prime has the potential to disrupt the e-commerce landscape, benefiting consumers with faster shipping times and potentially driving merchant adoption through sales uplift. While the impact on payment buttons like PayPal Holdings, Inc. (PYPL) remains uncertain, we believe that the continued evolution of the e-commerce ecosystem will drive value-added services beyond the checkout button. The introduction of cart functionality and the growth of BWP adoption could further revolutionize the e-commerce landscape, offering significant benefits to both consumers and merchants.
Our financial analysis of Amazon reveals that the company benefited significantly from the Covid-19 shutdowns, with sales growing by 38% in 2020 and 22% in 2021, reaching $470 billion. During this period, earnings per share (EPS) rose by 82% and 55%, reaching $3.24, resulting in a CAGR of approximately 27.6% for sales and 65.8% for EPS. However, 2022 proved to be a correction year as sales growth slowed to 9.4%, leading to overinvestment and a decline in EPS to -$0.27.
In response, Amazon initiated aggressive cost-cutting measures to right-size its cost structure. Our analysis anticipates a rebound in 2023, with revenue growth at 8.4%, reaching $557 billion, and EPS recovering to $1.46. Consensus estimates project sales growth of 12.7% in 2024 and EPS further recovering to $2.53. The free cash flow is also forecasted to recover from -$12 billion in 2022 to $21 billion in 2023 and $38 billion in 2024.
At a price of $133 per share, the stock is trading at a multiple of 52.6 times the projected 2024 EPS of $2.53, which is at the lower end of Amazon's five-year range of 48 to 144 times the projected next 12 months' EPS. This suggests that the stock's current valuation might be relatively attractive, as it is trading closer to the lower end of its historical P/E range.
In conclusion, Amazon's improving financial performance, aggressive cost-cutting measures, and comparatively lower valuation suggest potential investment opportunities for investors seeking exposure to the company. However, it is essential to consider the risks associated with the recent overinvestment and the possibility of continued moderation in growth rates.
One notable risk is the recent failure of Silicon Valley Bank of SVB Financial Group (OTC:SIVBQ), which has negatively impacted many startups and venture capital funding. AWS, having more exposure to startups than other cloud providers such as Microsoft (MSFT) Azure and Alphabet's (GOOG, GOOGL) Google Cloud, may be more significantly affected by SVB's collapse.
Furthermore, increasing macro concerns could slow down spending on AWS and e-commerce, which could hinder the adoption of Buy with Prime. Economic uncertainty may cause enterprises to pull back on cloud spending, thereby affecting AWS revenue growth. Additionally, as consumer spending on e-commerce slows down, Buy with Prime's adoption rate may face challenges, impacting Amazon's overall financial performance.
In addition, the AI and machine learning market is rapidly growing, and competition is intensifying. Amazon's AWS division faces stiff competition from other leading cloud providers such as Microsoft Azure and Alphabet's Google Cloud. These companies are continuously expanding their AI/ML offerings and investing heavily in research and development. As the market evolves, AWS might face challenges in maintaining its competitive edge, which could impact its growth and profitability. We are particularly concerned with Microsoft's lead in AI, driven by its partnership with OpenAI.
Finally, Amazon's dominant position in the e-commerce market and the rapid growth of its cloud services have attracted the attention of regulators worldwide. There is a possibility of increased regulatory scrutiny and potential antitrust actions in the future, which could result in fines, forced divestitures, or other restrictions on Amazon's operations. Such regulatory actions may hamper the company's ability to expand and innovate, ultimately affecting its growth prospects and financial performance.
Amazon's financial performance, strategic cost-cutting, and relatively attractive valuation present a compelling case for investors seeking exposure to the tech giant. Nevertheless, it is crucial to weigh the risks associated with overinvestment, potential slowdowns in growth rates, and increased competition in the AI and cloud markets. As we continue to navigate the ever-evolving e-commerce landscape, we remain cautiously optimistic about Amazon's ability to stay ahead of the curve and capitalize on growth opportunities.
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Amazon: Navigating The Cloud, AI, And Payments Revolution (NASDAQ:AMZN) - Seeking Alpha
How cloud computing is transforming supply chains – DC Velocity
In the race to digitalize their supply chains, many companies are finding they are already well along the path. Their progress is thanks to the rise of cloud computing and its ability to streamline workflows, connect business partners, and offer greater access to business-changing data. The trend is affecting work both inside the warehouse and up and down the supply chain, helping companies get closer to their IT modernization goalsand improving operations along the way.
The cloud computing market has grown rapidly over the past few yearsin adoption as well as infrastructure, spending, and development. Worldwide end-user spending on public cloud servicesthose owned and operated by third-party service providersis expected to grow 21% this year, up from 19% in 2022, according to Gartner Inc. data released late last year. Those services include everything from software-as-a-service (SaaS) offerings, such as Zoom, to cloud-based platforms, like Amazon Web Services (AWS). The expected increase will bring total end-user spending to about $592 billionin 2023. And although a shaky economy may threaten companies IT budgets this year, researchers say the growing popularity of the cloud will preserve it as one of the tech sectors hottest areas.
Current inflationary pressures and macroeconomic conditions are having a push and pull effect on cloud spending, said Sid Nag, vice president analyst at Gartner, in a press release announcing Gartners cloud spending forecast. Cloud computing will continue to be a bastion of safety and innovation, supporting growth during uncertain times due to its agile, elastic, and scalable nature.
Providers of cloud technologies for supply chain agree, emphasizing their ability to connect workers both on and off site to each otherand to supply chain partnersas a way to increase visibility across business networks. They say those aspects of the cloud help promote safer workplaces and create stronger supply chains. Two cloud technology providers offer pointed examples to make the case.
Technology company Matrix develops solutions that improve safety in industrial settings; its latest web-based application harnesses the power of the cloud to help warehouses, distribution centers, and manufacturing plants create safer workplaces by avoiding equipment collisions. The companys OmniPro Cloud technology connects to its OmniPro A.I. Collision Avoidance System, an artificial intelligence (AI)-based forklift-mounted camera system that detects objects in a vehicles path to prevent crashes in the warehouse and the yard. The cloud solution provides 24/7 access to software tools, real-time metrics, and analytics used to slice and dice the collision data, giving managers both on and off site access to information they can use to improve workflows, adjust facility layouts, and more, according to Mark Stanton, Matrixs vice president for industrial business development and sales.
The anti-collision system in itself improves warehouse safety by alerting forklift drivers in time to avert a crash. But as Stanton explains, the cloud-based analytics piece takes the solution further.
[The cloud] makes that information available to team leaders and management, as and when necessary, he explains. Its all very well having that technology on the fork truck but management needs to understand whats going on in that facility [so they can] take action, generate reports, or provide other data that allows the operator, and the facility, to be as safe as possible.
The cloud system analyzes a wide range of data, including average daily breaches per machine and breach trends over time. It also provides an event graph that includes time-stamped alerts and warning-zone breaches, and can filter data by zone or location as well as by person or piece of equipment. This not only allows managers to track safety and performance but also helps them identify high-risk areas of a facility and pinpoint the most dangerous hours of the day or days of the week. On a financial level, the systems cloud-based subscription model reduces IT expenses and allows for upgrades with minimal impact on a companys resources, Stanton notes.
Its available to anyone who has authorization to access the system24/7/365, Stanton adds. And whether its our system or others, once its in the cloud, it can be shared with other systems using APIs [application programming interfaces]. If you start combining different data from different systems, you can get a more holistic view of whats going on.
Stanton and others argue that providing that wider view of a workflow, an operation, or even an entire supply chain helps build more efficient, effective processes.
You can have a very effective WMS [warehouse management system], but there are things happening outside of the WMS that are [keeping it from being] as effective [as it could be], he says. If you can take a step back, you can see where those bottlenecks might be.
Tech firm Systech provides digital identification and traceability software for supply chain applications, a service thats hard to imagine without the use of the cloud, according to Girish Juneja, Systechs general manager and senior vice president of its parent company, Dover Corp. Systechs software solutions provide product traceability from the manufacturing line, through distribution, all the way to the end-user by combining serialization, tracing, and authentication technology that is accessible via a cloud-based application. The solutions have been widely used in the pharmaceutical industry and are also applicable to food, health care, and other industries that rely on product identification and tracking for quality control.
Increasingly, this need to track product from the first unit of a package [through the entire supply chain] is becoming pervasive, Juneja says, explaining that doing so requires connecting trading partnersthe manufacturer, distributor, third-party logistics service provider (3PL), retailer, and othersvia a single technology system. Many participants in the supply chain dont live on the same system. So if you ask them to be a part of this track-and-trace chain all the way, the only way they can participate is [through] a cloud-based solution.
Without the cloud, what we are talking about would be hard to accomplish.
Juneja describes the system as a trail of digital crumbs that creates a transparency among trading partners that can help solve some pretty big supply chain challengeslike the disruptions and product shortages experienced during the height of the Covid-19 pandemic. When all supply chain partners are connected, he explains, it becomes easier to track inventory across an entire network and move it around when demand shifts or problems occur.
We have seen how big events can disrupt the entire supply chain and have repercussions [that are felt] even after the event is over. We want to solve that through a digital supply chain, Juneja explains. What we have seen post-Covid is that there is a higher appreciation of the need to drive transparency in supply chains.
The bottom line: Greater transparency among trading partners opens the door to better communication, better collaboration, and, ultimately, better decision-making.
You need to understand the different supply chain events, because if you do, you can impact your business positively, Juneja says. Cloud-based digital technologies help make this possible and therefore help improve businessthrough situations that weve seen and others that may come.
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How cloud computing is transforming supply chains - DC Velocity
Iowa’s new cloud-computing deal costs nearly $40M over 10 years – The Gazette
Iowa will pay multinational firm CGI Technologies and Solutions nearly $40 million over 10 years for a cloud-based financial management system after dumping previous vendor Workday.
Gov. Kim Reynoldss office says the state sunk nearly $16 million into the multiyear Workday implementation before pulling the plug last month because of implementation issues affecting many state business processes.
Since the review period of the (Workday) project went into effect last summer, there have not been any implementation costs to the state since the contract was paused last summer before the testing phase started, Kollin Crompton, a Governors Office spokesman, said in an email to The Gazette.
Had the state continued with testing, there would have been an additional cost of $3.5M for Workdays services. With the shift to CGI, the state estimates that even with the $15.7 million sunk cost, the total savings will be $8.6 million over 10 years.
The states contract with CGI, signed March 24 by Department of Management Director Kraig Paulsen, calls for the company to provide Iowa with cloud-based computer systems to handle financial management, inventory, procurement and budgeting, among other functions, for up to 1,500 state government users.
The state will pay CGI nearly $4.5 million per year in fiscal years 2025 through 2032, with lesser amounts for fiscal 2024 and fiscal 2033 because those will not be full service years. The total contracted amount of $38.82 million over 10 years includes cloud services and quarterly planning sessions.
Headquarters: Montreal, Quebec, Canada
Founded: 1976
Consultants and professionals: 90,250
Locations worldwide: 400
Fiscal 2022 revenue: $12.87 billion
End-to-end services clients: 5,500
Source: CGI
If the state wants to buy additional consulting, it will pay CGI escalating rates from up to $235.50 per hour in fiscal 2024 to $286.50 per hour through February 2033, according to the contract.
If the cloud-based system doesnt go live as scheduled, Iowa doesnt have to pay. But if the state breaks the deal after implementation, the contract calls for early termination fees of up to $650,000.
CGI had been the states longtime computer services provider before the Office of Chief Information Officer chose Workday in 2019. But CGI didnt have a software-as-a-service model in 2019, the Governors Office said last month.
Since then, multiple state and local governments have successfully implemented it and are now leveraging the benefits of a public sector solution, a March 24 news release said. A preliminary review suggests this option is more compatible with the states requirements and current business operations and will result in less disruption to internal functions and lower ongoing costs over 10 years.
Iowa chose Workday, a California-based company, in September 2019 to convert the states aging human resources and financial management systems to the cloud. That contract was worth $21 million. The state signed another deal with Workday in February 2020 for $28 million.
Instead of seeking proposals from multiple companies to see which best met Iowa's needs and was most affordable, state officials chose a generic contract Workday had signed in 2015 with a for-profit procurement organization in Texas, The Gazette reported in 2020.
The state still will use Workdays human resources system, which can exchange information seamlessly with CGIs platform, the state reported March 24.
By stopping implementation of the financial management system last year, Iowa avoided paying subscription costs and ongoing implementation costs, together totaling $6.4 million in savings, Crompton said. The original contract period for Workday ran through June 30, 2024.
Cloud computing sounds like programs and data are somewhere overhead in an invisible cloud. Actually, anything based in the cloud actually is on another computer located somewhere else. Instead of buying and maintaining computer programs and storing vast amounts of data on a home or work computer, we can hire companies with large data centers to provide the services to us through the internet.
Comments: (319) 339-3157; erin.jordan@thegazette.com
The Workday logo is seen at the Workday Championship golf tournament Sunday, Feb. 28, 2021, in Bradenton, Fla. (AP Photo/Phelan M. Ebenhack)
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Iowa's new cloud-computing deal costs nearly $40M over 10 years - The Gazette
Petrobras’ cloud computing investments set to grow 40% this year – BNamericas English
Brazil's Petrobrasplans to invest 240mn reais (US$47.5mn) in cloud computing initiatives this year, up 40% from 172mn reais in 2022, the national oil company said in a statement.
Resources are being applied to boost the deployment of technologies such as virtual terminals (digital twins), data platforms and machine learning capabilities.
Petrobras' current strategic plan, which contemplates US$78bn in investments for 2023-27, earmarks US$2.1bn for digital transformation and innovation.
In 2021, Petrobras launched a cloud computing competence center (CCC), in partnership with Amazon Web Services and Microsoft, to enable enhanced artificial intelligence applications and analytics, among other things.
Since then, the CCC has delivered more than 80 solutions and made it possible to update the management system that connects thousands of company processes, according to the state firm.
The center relies on in-house employees and specialized consulting teams of the two cloud providers. Previously, a Petrobras spokesperson told BNamericas that the company expected to have 38 professionals involved in the CCC by end-2024.
Petrobras' strategy for its data management is hybrid that is, part of its workload is and will continue to be kept on its own data processing premises, while another part, especially less strategic data, will gradually migrate to the cloud.
The company's data strategy is also multi-cloud, as Petrobras uses solutions from more than one provider (Microsoft and AWS).
Petrobras has already started using cloud for corporate ICT solutions, accounting, HR applications, etc., with the aim of keeping on its own datacenters scientific applications such as high performance computing (HPC), which processes data for exploration and production activities, CIO Marcelo Carreras said in the statement.
ERP
One of the systems that has already migrated to the cloud, in a complex process concluded last year, was the company's ERP management software. The ERP is providedby German software giant SAP.
According to Petrobras, the migration of its SAP ERP platform to the cloud was the largest of its kind in Latin America and one of the biggest in the world.
Since its implementation, SAP S/4HANA the new cloud version of the ERP has been processing local and international payments worth around 5bn reais a day, according to the statement.
It has also received more than 72,000 proposals from suppliers in contracting processes and issued around 5,000 invoices per day, the company said.
Running these systems in the cloud is expected to bring productivity gains with a return of more than US$190mn by 2025, according to Petrobras estimates.
ALSO READ Snapshot: Petrobras' booming tech investments
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Petrobras' cloud computing investments set to grow 40% this year - BNamericas English
Confidential Computing Eases Hesitancy Around Cloud Adoption – RTInsights
With major cloud providers buying into confidential computing, enterprises can migrate to the cloud with ease and start gaining true value from their data.
Gartner forecasts cloud spending to grow 20.7% in 2023, to total $591.8 billion. The time, risk, and cost associated with refactoring and migrating legacy workloads are often the top barriers to cloud adoption. Even with these risks, as data becomes more valuable, organizations have opted to invest in cloud technology to not only store their sensitive data but to enable cross-department and organization collaboration.
The healthcare and financial services industries have been particularly resistant to cloud migration, and rightfully so due to the highly sensitive nature of the data they handle. However, the emergence of confidential computing projected to be a $54B market by 2026 by the Everest Group presents a solution where banks, for example, could pool their data together to detect fraud and human trafficking more effectively without exposing that data to each other, third-party cloud providers, or the system on which its running. Enterprises need a guarantee that their data is protected. Data loss or leaks are not an option, especially in healthcare and financial services. By utilizing confidential computing, organizations get that security guarantee and ease concerns around cloud migration, understanding that their data is protected from end-to-end, even during computation. Before we dig into how confidential computing can ease hesitation around cloud adoption, lets first look at whats driving that hesitation.
See also: Survey Finds Still Way Too Much Data Insecurity in the Cloud
Hesitation around the cloud
Traditional encryption methods such as protecting partially homomorphic encryption (PHE) or fully homomorphic encryption (FHE) use techniques that protect data-at-rest or data-in-motion to ensure security. But a major security problem occurs when the data needs to be actually used.
Traditional approaches to protecting data-in-use often rely on enforcing restrictive access controls. This entire approach, however, is susceptible to human error and policy misconfigurations that often go undetected. Even with privileged access technology in place, protection against credential leakage can not be maintained leading to unauthorized actors
being able to access sensitive data.
These traditional methods of cloud data security have failed at providing a high level of security during the joint analytics process. This has left corporations incapable of reaping the full benefits of cloud computing and having to instead weigh the unbalanced costs between security and convenience, leading to hesitation in adopting the technology in the first place.
See also: Understanding Unified Security in a Cloud World
The key? Securing data in use
Enterprises need a solution that provides additional confidentiality guarantees while not forcing a trade-off between security and compliance.
Confidential Computing alleviates top enterprise concerns and ensures that sensitive data will remain secure not only in storage but in use. The use of secure enclaves enables data to be stored in Trusted Execution Environments (TEEs), where the data remains highly secure, allowing the technology to aggregate data from multiple sources and perform collaborative analytics. Secure enclaves provide a more efficient and less susceptible solution to data privacy. The environment is inaccessible by other applications, users, or processes colocated on the system, leaving no room for the doubt homomorphic encryption provides.
Confidential computing technology provides a unique way to securely share data and analyze it between multiple parties while maintaining complete confidentiality. If someone gains access to the secure enclaves or the overall operating system, the technology will block access, and the user will not be able to see any memories in the enclave or tamper with the code inside. This encryption process prevents any type of hacking and guarantees the highest level of security.
By adopting secure enclaves and utilizing the full power of confidential computing, the current security hesitations are eliminated. Confidential computing provides an environment that allows teams to know that their data is being protected in the most efficient way possible and grants a more collaborative ecosystem. All of the major cloud providers have already bought into the technology, and as confidential computing continues to explode, enterprises can migrate to the cloud with ease and start gaining true value from their data.
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Confidential Computing Eases Hesitancy Around Cloud Adoption - RTInsights
Risks & Opportunities of Cloud Computing in the Fintech Sector – TechiExpert.com
The fintech sector has substantially transitioned recently, spurred by rapid technological improvements and massive adoption. The rise of cloud computing, which has altered how fintech organizations function, has been one of the most significant shifts. Cloud technology has helped fintech firms to scale their operations, streamline their procedures, and improve the customer experience, opening up new avenues for more developments and innovations. These opportunities, however, bring with them certain risks and challenges that must be handled to protect & secure crucial financial data.
Opportunities
Risks
Conclusion
In conclusion, cloud computing has significantly impacted the fintech sector, offering many opportunities for growth and innovation. However, fintech companies must also be aware of the risks and challenges associated with cloud computing, such as security concerns, dependence on third-party vendors, and compliance challenges.
By addressing these risks and challenges and implementing appropriate measures, fintech companies can leverage the benefits of cloud computing while mitigating its risks. As the fintech industry evolves, cloud computing will likely play an even more significant role in shaping its future. Therefore, fintech companies must continue to monitor the industrys developments and adapt their strategies accordingly to remain competitive and secure in a rapidly changing landscape.
-By Praveen Paulose, Founder & MD, Celusion Technologies
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Risks & Opportunities of Cloud Computing in the Fintech Sector - TechiExpert.com
Security As A Service Market is Anticipated To Grow USD 46.24 … – GlobeNewswire
New York, US, April 05, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Security as a Service Market by Component, Application Area, Organization Size, Vertical - Global Forecast till 2030. The global security-as-a-service market will touch USD 46.24 billion at a 17.35% CAGR by 2030, as per the current Market Research Future report.
Top Key Playersin Security-as-a-Service Market
Eminent industry players profiled in the security-as-a-service market report include:
Get a Free Sample PDF Brochure:https://www.marketresearchfuture.com/sample_request/6709
Report Scope:
Drivers
Increasing Adoption of Cloud Computing to Boost Market Growth
Recent, there has been a noticeable rise in the use of cloud computing for numerous applications, including email services, ERP, data backups, CRM, and collaborative services. This has led to a boom in SaaS adoption across a number of businesses. Services delivered via the cloud are less expensive because no IT infrastructure needs to be set up. Moreover, cloud deployment raises software's susceptibilities to being easily accessed by unauthorized people. As a result, many businesses are implementing security-as-a-service solution to protect their workloads and sensitive data without any risk in the cloud. The global market for security as a service is therefore anticipated to grow over the course of the forecast period as cloud computing adoption continues to rise.
Browse In-depth Market Research Report (100 Pages) on Security-as-a-Service Market:https://www.marketresearchfuture.com/reports/security-as-a-service-market-6709
Opportunities
Increased IoT-Related Services to offer Robust OpportunitiesIncreasing services related to the Internet of Things (IOT) are anticipated to create a significant growth opportunity. In order to improve operations, several firms have begun deploying IoT-based solutions. IoT solution vendors now offer security-as-a-service to cut down on cyberattacks, spot threats, and patch holes before products hit the market. Also, as security services are increasingly used in IoT, demand for security-as-a-service solution is likely to rise sharply and present considerable growth potential in the near future.
Restraints and Challenges
Lack of Awareness to act as Market RestraintThe lack of awareness, high implementation cost, lack of customization, and security breaches may act as market restraints over the forecast period.
Market Segmentation
The global security-as-a-service market is bifurcated based on component, application area, organization size, and vertical.
By component, solution will lead the market in the forecast period.
By application area, the security-as-a-service market is segmented into web security, database cloud security, email-security, network security, and others.
By organization size, SMEs will domineer the market over the forecast period.
By vertical, BFSI will spearhead the market over the forecast period.
Covid-19 Analysis
The COVID-19 had a favorable effect on the market for security as a service. The COVID-19 epidemic has consequences for security service providers in the immediate and long term. Owing to the enforcement of lockdown due to the pandemic, numerous enterprises, manufacturing facilities, and retail businesses suffered. The pandemic has, nevertheless, caused a move towards remote working arrangements. Adopting a work-from-home policy has raised awareness among enterprises about data security and cyber-attacks and increased need for cloud-based security solutions. Also, many major and small businesses have raised the amount of money they spend on cyber security-related products. Hence, it is determined that the COVID-19 pandemic has changed how a company's management approaches cybersecurity and has favorably affected the market for security as a service.
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Regional Analysis
North America to Have Lions Share in Security-as-a-Service Market
Among these regions, North America is predicted to dominate the global security sector as a service. The rise of cloud computing and technical advancements is major drivers of market growth in the area. This sector is estimated to have the highest Security-as-a-Service Market Profit throughout the forecasted timeframe. The United States & Canada make up the majority of the major market players in the North American area. The greatest market share within the global industry is anticipated to belong to North America.
In the region, there is a sharp rise in need for security-as-a-service to safeguard enterprises' sensitive data from cyber-attacks. Furthermore, fierce competition and U.S. government restrictions on cyber security have pushed the market to develop better services while adhering to rules, which is projected to increase need for security-as-a-service in this region. Major market giants including IBM Corporation, Forcepoint, Microsoft Corporation, and Cisco Systems, among others, are present, which aids in the region's ability to generate income. During the projection period, Asia Pacific will see considerable growth.
The market in this area is anticipated to rise quickly as a result of the increasing acceptance of security as a service in countries like China, Singapore, India, South Korea, and others. The Asia Pacific region's small, medium, and large businesses are all becoming more conscious of the growth in cybercrimes, which is leading to a rise in the use of security-as-a-service to lessen cyberthreats. Also, the availability of a sufficient number of market sellers is boosting the need for security-as-a-service in the area.
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APAC to Have Admirable Growth in Security-as-a-Service Market
Asia Pacific is predicted to have the highest CAGR of 12.78% over the projected period of 20212026 as a result of the rising need for digital business strategies and the widespread and rapid use of cloud-based apps. India has experienced numerous cyber-threats and attacks over the last several years in a variety of industrial verticals, which has fueled market expansion. The rapid adoption of cloud computing particularly by big organizations has greatly boosted the Asian economy. The biggest markets in the region are India, China, & Japan because of their extensive clienteles.
Industry Updates
January 2023- In order to maintain a thorough cybersecurity strategy, businesses that require external resources or additional expertise can now use Security as a Service (SECaaS), which was recently introduced by OTAVA, a global pioneer in customized and compliant multi-cloud solutions. The Security-as-a-Service solution from OTAVA is specifically designed to cut through automatic warning noise and defend against all attack vectors.
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Security As A Service Market is Anticipated To Grow USD 46.24 ... - GlobeNewswire
Versa Networks Wins 2023 Product of the Year Award for its Industry-Leading SASE Solution – Yahoo Finance
Versa Single-Vendor Unified SASE is the Only SASE Solution to Win a Product of the Year Award and be Recognized for Exceptional Innovation by Cloud Computing Magazine
SANTA CLARA, Calif., April 04, 2023--(BUSINESS WIRE)--Versa Networks, the recognized leader of single-vendor Unified Secure Access Service Edge (SASE), today announced that TMC, a global, integrated media company, has awarded Versa SASE the 2023 Product of the Year Award, presented by Cloud Computing Magazine.
"The accolades continue to roll in this year for Versa SASE, most recently being named as the only SASE solution to earn the Cloud Computing 2023 Product of the Year Award," said Kelly Ahuja, CEO of Versa Networks. "The Versa Unified SASE Platform is designed to simplify how enterprises protect and connect their users, devices, and sites across cloud workloads and applications. Whether its enforcing a cloud-delivered Zero Trust security model for remote users, protecting hybrid workers against a wide range of cloud-based threats, connecting and optimizing branch office networks with cloud-delivered SD-WAN, or natively integrating multi-cloud infrastructures, Versa SASE can help."
"Organizations need more than just security for their cloud environments, and Versa SASE delivers unique integration of the most comprehensive range of networking and security services," Ahuja continued. "Our products were architected with this integration principle from inception. This is enabled by Versas single-stack architecture, which uniquely delivers the SASE functionalities organizations need, as proven by Versas continued success and industry recognition."
Versas AI/ML-powered single-vendor Unified SASE delivers organically developed best-of-breed functions that tightly integrate and deliver services via the cloud, on-premises, or as a blended combination of both, managed through a single pane of glass. Versa delivers SASE services such as Secure SD-WAN, Next-Generation Firewall, Next-Generation Firewall as a Service, Cloud Network Firewall, Unified Threat Management (UTM) including Advanced Threat Protection (ATP), Secure Web Gateway (SWG), Zero Trust Network Access (ZTNA), Cloud Access Security Broker (CASB), Data Loss Prevention (DLP), Remote Browser Isolation (RBI), and User and Entity Behavior Analytics (UEBA). Versas single-vendor Unified SASE platform goes above and beyond management console automation by providing the ability to integrate networks, points of presence, policy definitions, application definitions, agent logic, and data lakes.
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About the Cloud Computing Product of the Year Award
The Cloud Computing Product of the Year Award honors vendors with the most innovative, useful, and beneficial cloud products and services that have been available to deploy within the past year. For more on Versas Product of the Year Award, see https://cloud-computing.tmcnet.com/breaking-news/articles/455274-winners-the-2023-cloud-computing-product-the-year.htm.
"Congratulations to Versa Networks for being honored with a Cloud Computing Product of the Year Award," said Rich Tehrani, CEO, TMC. "Versa SASE is truly an innovative product and is among the best solutions available that facilitate business-transforming cloud computing and communications. I look forward to continued excellence from Versa in 2023 and beyond."
Versa simplifies how enterprises protect and connect their users, devices and sites to workloads and applications anywhere, anytime. As the leader in SASE, the fastest growing category in cybersecurity, Versa is the only company delivering a differentiated Unified SASE architecture that converges security and networking to ensure an improved security posture, enhanced user-to-application experience, and operational efficiency. Gartner has identified Versa SASE as having the most SASE components out of all 56 vendors Gartner evaluated and named Versa as one of the vendors delivering single-vendor SASE. Also, KuppingerCole Analysts AG named Versa a leader in every evaluation category in its recent SASE Integration Suites Leadership Compass report. In addition, Frost & Sullivan honored Versa with its SASE Global Enabling Technology Leadership Award for its industry-leading SASE solution. Enterprise Management Associates (EMA) also found that Versa SASE has the most SASE supported functions, as published in its industry report; while 650 Group recognized Versa as the market share leader for both Deployed SASE and Enabled SD-WAN. Finally, the CIO CHOICE 2023 Honor and Recognition program distinguished Versa SASE as the Most Trusted Brand by CIOs for SASE.
About Cloud Computing Magazine
Cloud Computing magazine is the industrys definitive source for all things cloud from public, community, hybrid and private cloud to security and business continuity, and everything in between. This quarterly magazine published by TMC assesses the most important developments in cloud computing not only as they relate to IT, but to the business landscape as a whole.
About Versa Networks
Versa Networks, the leader in single-vendor Unified SASE platforms, delivers AI/ML-powered SSE and SD-WAN solutions. The platform provides networking and security with true multitenancy, and sophisticated analytics via the cloud, on-premises, or as a blended combination of both to meet SASE requirements for small to extremely large enterprises and Service Providers. Thousands of customers globally with hundreds of thousands of sites and millions of users trust Versa with their mission critical networks and security. Versa Networks is privately held and funded by Sequoia Capital, Mayfield, Artis Ventures, Verizon Ventures, Comcast Ventures, BlackRock Inc., Liberty Global Ventures, Princeville Capital, RPS Ventures and Triangle Peak Partners. For more information, visit https://www.versa-networks.com or follow Versa Networks on Twitter @versanetworks.
Versa Networks, VOS, the Versa logo, and Versa Titan are or may be registered trademarks of Versa Networks, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230404005539/en/
Contacts
Dan Spaldingdspalding@versa-networks.com (408) 960-9297
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Versa Networks Wins 2023 Product of the Year Award for its Industry-Leading SASE Solution - Yahoo Finance