- 2024 has seen a wild change in computing, with the emergence of AI technologies, ongoing economic challenges for organizations to succeed, and evolving data regulations around security and privacy.
- Massive growth in cloud spending, simplified networks, AI as a service, tighter AI regulations, data security, and privacy, Pay-As-You-Go networking, and addressing the skills shortage dilemma could be the seven cloud computing trends that can define 2024
OUR TAKE
With the advent of artificial intelligence, many businesses are facing economic challenges. Based on Neil Templeton, an international B2B Marketing and Strategy Director wrote in his article “Seven cloud computing trends that may define 2024 “, this story will summarize these seven trends in a nutshell.
– Jennifer Yu, BTW reporter
Neil Templeton, SVP at Console Connect, a cloud service provider from PCCW, has given his take on the top seven cloud computing trends he predicts to dominate 2024.
1. Massive growth in cloud spending
This is the surest prediction for 2024. Driven by the widespread adoption of generative AI applications such as OpenAI’s ChatGPT and large-scale language models such as Google’s Bard, spending on cloud infrastructure will continue to grow significantly through 2024.
Companies migrate their mission-critical applications to the cloud so that the majority of their operations will coexist in a multi-cloud infrastructure. This way we can see an equally large spending growth. This migration will make companies more agile, innovative, and efficient.
2. Simplified networks
More and more organizations are adopting a hybrid or multi-cloud strategy, but the technology is immature and can run into a lot of uncontrollable problems.
As a result, large companies will begin to explore ways to simplify their network infrastructures to eliminate wasted resources while maintaining high-speed performance and connectivity. This can make it easier for businesses to operate multi-cloud services through a single management portal.
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3. AI as a Service
Artificial Intelligence is a hot trend at the moment and everyone in cloud computing is talking about it. Templeton states that “in 2024 AI will emerge from an intangible concept to a coming-of-age reality.”
Now the question is how they can embed these AI applications into the company’s operations. As AI requires a lot of data and computing power, we will see a surge in AI as a Service (AIaaS), which means, that even some businesses who don’t have the resources or technological expertise can also access AI tools through a cloud provider.
However, from a connectivity perspective, this still requires a very high-speed, high-quality network to maximize AI’s potential.
4. Tighter AI regulations
In 2024, AI will face new and stricter regulations on the use of AI globally, and more countries will realize the importance of protecting their digital borders.
According to Templeton, “the EU’s AI Act, which will be adopted in the new year, is perhaps the most significant.” This Act is dedicated to addressing the risks of AI governance, it outlines a series of requirements aimed at safeguarding the “health, safety and fundamental rights of EU citizens and others beyond”, and is expected to have a significant impact on a global scale.
Keeping up with this changing regulatory landscape will be a challenge, to say the least.
5. Data security and privacy
In 2024, cybersecurity will be a top priority. Templeton said, “It is no longer a question of whether a data breach will happen, but when.” Cyber attacks have increased in recent years, especially as hackers will steal your data through AI.
Apart from individuals, organizations will also need to closely examine security and resilience and decide whether they need to move to a private network environment. This means, that simply connecting via the public Internet will be largely at risk of exposure.
6. Pay-As-You-Go networking
Cloud costs will continue to be expensive in 2024 and beyond. This will soon become apparent for businesses that start using the cloud heavily to extract data and then suddenly find themselves stung by huge bills. These costs which are called egress charges are how the major cloud providers make most of their money, and they can be massive.
Templeton states that “meanwhile, as more businesses seek to save money, it makes sense to look at Direct Connection services and Pay-As-You-Go models offered by NaaS providers.” Here, organizations only pay for the network resources they use, which allows them to reduce capital expenditures.
7. Addressing the skills shortage dilemma
Although the way AI technology is more mature, the journey toward an automated future may not be as straightforward as it appears.
The financial, retail, healthcare, and telecoms industries are all seeking for recruit data scientists, data analysts, and the software development skills needed to embrace the opportunities presented by AI. This is a very appealing prospect.
