Wipro Limited, a technology services and consulting firm, released the Pulse of Cloud 2024 Report, which highlights the evolving dynamics of cloud and Artificial Intelligence adoption across various sectors of the global market. The survey was conducted with over 500 senior executives and directors from IT, finance, and operations – all involved in decision-making regarding cloud and AI adoption. Their companies are medium and large-sized businesses in the Americas and Europe, operating in banking and finance, manufacturing, retail, healthcare, energy, and utilities.
The research reveals the impact of AI on cloud investments, with more than half (54%) of the organizations surveyed citing this technology as the main driver of their cloud investments. Furthermore, more than half of respondents indicate they are increasing investments in hybrid cloud (54%) and public cloud (56%). And while the majority of respondents (55%) say their cloud adoption is currently outpacing AI adoption, more than a third (35%) state they are advancing in both technologies simultaneously.
Research highlights:
- Cloud investment is increasing: 54% of organizations plan to increase investments in hybrid cloud and 56% plan to increase investments in public cloud.
- Cloud adoption continues to outpace AI adoption: the majority of organizations (55%) report that their cloud adoption is ahead of their AI adoption, while 35% say they are progressing at the same pace with both technologies.
- AI and Generative AI are driving cloud investment: 54% of organizations cite AI or Generative AI as the main driver of cloud investment, peaking in the banking (62%), manufacturing (61%) and retail (55%) sectors.
- Hybrid cloud is dominant: 60% of organizations report using hybrid cloud, reflecting the need for flexible solutions that balance on-premises and public cloud services.
- Focus on cloud cost management: 54% of respondents report using utilization analytics and automation tools for cost management.
- Interest in unified cloud cost management is growing: 59% of organizations, 75% of them in the banking and finance sectors, now have a unified strategy, indicating a more mature approach to cloud management.
The report also reveals a growing focus on cloud cost management, with 54% of organizations using utilization analytics and automation tools for cost management and 59% now using a unified cloud management strategy.
AI and Generative AI are firmly established as a key driver for the cloud across all sectors, reflecting its position as the transformation platform to enable future innovation and competitive advantage. “This trend should continue to strongly influence cloud adoption and investment strategies in the coming year, as leading companies continue to migrate data, build LLMs, and adopt AI tools/applications that require cloud infrastructure. At the same time, companies will continue to be pressured to keep their cloud costs under control,” explains Wagner Jesus, country head of Wipro in Brazil.
“As companies rethink their infrastructure to reap the benefits of AI, they are also realizing increasing value in adopting a cloud economics approach. Our research shows that as data migration and the adoption of AI-related applications increasingly drive cloud investment, unified cost management strategies are also growing in importance,” concludes Jo Debecker, Managing Partner and Global Head of Wipro FullStride Cloud.
Access the full “ Pulse of Cloud 2024 Report ”
