Cloud for enterprises can fetch $414 bn in profits: Infy study

Enterprises in the US, the UK, France, Germany, Australia and New Zealand can add up to $414 billion in net new profits, annually, through effective cloud adoption, as per a survey conducted by Infosys.

The ‘Infosys Cloud Radar 2021’ has revealed the links between enterprise cloud usage and business growth, the company said in a statement on Tuesday.

The survey was conducted by the Infosys Knowledge Institute(IKI), a research arm of Infosys, with over 2,500 respondents from companies across the six regions.

The independent study covered a range of business performance goals related to cloud and found specific links to competencies such as speed to market and capabilities, it said.

A strong profit link was identified when using cloud to rapidly bring new solutions and services to market.

These investments provide a foundation to leverage artificial intelligence (AI) & automation and build cloud based new sources of revenue.

The study found specific links between business profit growth and the use of cloud to rapidly develop and launch new solutions and bring new functionality to market.

Cloud’s ability to generate new value from data and discover new revenue sources also links to profit growth.

Specifically, these benefits are derived from business’ ability to accelerate time to market, enhance business capabilities and build a competitive edge, the statement said.

Businesses must have at least 80 per cent of their business functions such as cross domain business applications in the cloud for AI to boost profit growth.

Businesses must have at least 80 pc of their business functions such as cross domain business applications in the cloud for AI to boost profit growth