Apr 23, 2021
Nowadays, a company's long-term success and efficiency depend on its agility and scalability compared to competitors. As a result, cloud technologies have quickly become an integral part of digital transformation for many sustainable organizations.
According to Gartner, ‘more than $1.3 trillion in IT spending will be affected by the shift to the cloud by 2022.’ IDG also states that companies will dedicate 32% of their IT budgets to cloud computing this year. Although the current pace of cloud adoption can differ dramatically across industries, most organizations recognize the importance of migrating. Fortunately, several sectors are already benefiting from cloud technologies, including automating and optimizing processes and responding to unexpected events or client requests.
So what are the key industries that leverage cloud solutions? How are they using the cloud, and what advantages does it provide for businesses? Read in our blog post.
Manufacturers apply cloud computing for predictive maintenance that helps collect and analyze device data, pre-process edge computing resources, and perform data modeling. For instance, that allows companies to identify failing assets in advance before the incident and reduce possible downtime. Also, with cloud-based digital twin technologies, manufacturing companies can simulate the behavior and the state of the device to understand what will happen with its physical counterpart.
Logistics firms apply cloud computing for reducing maintenance costs and eliminating the need to support and upgrade hardware. Cloud solutions help companies in the supply chain industry provide users who work from different devices in different locations with access to the application. Besides, the cloud provides APIs to third parties for improving supply chain visibility and simplifying data exchange. Ultimately, with scalable compute resources, logistics firms can analyze large volumes of data without a need to maintain their own data centers.
The cloud provides significant value in building the infrastructure and bringing AI-based tools to companies that intend to implement autonomous driving solutions like a safe driver system. In addition, suppliers in the automotive industry use AI and ML tools for better analytics across the facility, maximizing uptime, improving first-time quality, and optimizing machine productivity. Thanks to cloud solutions, companies also gain a fully integrated approach to telemetry, which makes extracting and running analytics on vehicle data easier.
Using cloud hosting services, construction companies can manage work-related tasks more effectively as they provide flexibility for tracking the work at various sites. The employees can use document-sharing apps on smartphones to make real-time updates of their work and have design drawings, safety plans, or other documents in a pocket. Also, the cloud promotes applying AI and ML-based solutions, which enables designers to explore possible building designs before the execution. That includes producing 3D models of different systems, like mechanical or electrical, to ensure they can work properly with the building’s architecture.
Companies in the telecommunications industry can apply cloud computing to minimize the devices' power and space requirements and provide simpler management network services. With IoT as assistance, the cloud enables managing the changing networks and usage patterns more efficiently due to data collected from predictive analytics. Finally, cloud solutions allow tracking and maintaining the bandwidth of telecommunication companies, which will provide clients with more coverage, enhance customer services, and increase download times.
With the appearance of blockchain technology, many financial companies are starting to apply cloud computing, which allows them to forget about the "middle-man" and cut down costs due to broker-free transactions. Also, cloud solutions in the financial industry involve AI-based virtual agents that can converse naturally with clients and provide expert assistance to human agents when the cases are more complex. Lastly, financial services use cloud APIs for reaching customers through new digital distribution channels and delivering innovative products.
Along with IoT, the cloud helps businesses obtain and analyze real-time data for improving personalized communication, increasing transparency, and providing insights related to customer behavior. Besides, cloud solutions allow eCommerce and online retailers to enhance their clients’ shopping experience by recommending the exact products they are looking for and keeping them updated with their orders. Based on customers’ purchase habits, retail companies can understand them better to offer a personalized shopping experience.
Banking institutions often use cloud computing for providing an automated credit risk analysis or making it more efficient. That involves machine learning (ML) and natural language processing (NLP) and requires transferring a large amount of external data from public resources. Also, implementing a single cloud-based integration system allows banks to collect more accurate data and follow current customer trends in real-time. This approach helps eliminate unnecessary complexity and makes transactions easier for banks and their clients as well.
Healthcare data is always considered a huge asset. Applying Big Data analytics along with artificial intelligence (AI) algorithms on patient-related information stored in the cloud promotes medical research. Thus, due to the advanced computing power of cloud solutions, healthcare organizations make the processing of large datasets more effective. Another great benefit is implementing telemedicine apps that provide healthcare delivery with convenience and upgrade the patient experience during all phases, from preventative to recovery.
Cloud computing helps legal professionals manage different briefs, discovery documents, depositions, or contracts they deal with regularly. Legal companies use automation and natural language processing (NLP) apps for enabling lawyers to find the required information efficiently. That allows making critical decisions more quickly and accurately. Besides, there can be contract review apps that pair machine learning (ML) technologies with workflow capabilities and integrate with current contract management tools.
Cloud solutions enable scalable and elastic ways for supporting business activities from remote locations. Meanwhile, unprecedented capabilities of data computing and storing form the basics of the cloud. According to Salesforce, cloud technologies are also reliable in terms of safety as ‘94% of businesses report significant improvements in online security after moving their data to the cloud.’ Lastly, the cloud provides different benefits to the industries, like reducing innovation costs, applying proper machines, drawing insights from data, or simplifying operations.
Are you already using the cloud? What benefits do you find the most valuable for your business? Or what factors prevent your organization from using the cloud? Share with us in the comments below.
Over the past several years, AgileVision has helped many businesses to select a cloud provider, build cloud infrastructure, or migrate to the cloud. Are you considering a cloud adoption or need advice on your existing cloud infrastructure?
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