The rapid evolution of generative artificial intelligence has sparked a surge in the global cloud industry, which is poised to draw substantial investments from technology funds in the coming months, according to industry analysts.
Due to its flexibility and efficiency, analysts also anticipate a jump in novel applications of cloud technology. These span across personalised healthcare, climate modelling and prediction, immersive virtual experiences, autonomous vehicles, cyber security and AI-driven creative collaborations.
“It [cloud] has now become an even bigger deal as tech companies will clearly need more plasticity in terms of handling and expanding their data offerings, both internally and to their customers,” Thomas Monteiro, senior analyst at Investing.com, says.
“Big funds that are heavily investing in tech this year need to make sure they are betting on companies that offer competitive cloud advantages … regardless of whether these will bring profits or not … they need to show their clients they are not missing the boat.”
In the cloud industry, businesses are charged solely for the specific services or resources they utilise during a given time frame.
Shifting their operations to a specialised cloud system provided by the dominant industry players such as Oracle, Amazon Web Services, or SAP is a more cost-effective choice for businesses compared to establishing their own infrastructure of servers, hardware, and security networks, experts say.
This transition significantly reduces the overall cost of ownership.
“Cloud has become an imperative now … it is making the adoption of emerging technologies such as gen AI, intelligent automation and various other next-gen technologies easy,” says Harish Dunakhe, senior research director for software and cloud at International Data Corporation.
“Businesses are also demanding various functionalities that are exclusively available on cloud. This is because, their customers – millennials and GenZ – are pushing them to deliver more value at less price and in less time.”
Globally, the cloud computing market is booming. It is expected to jump 20 per cent yearly to reach $677.95 billion this year as businesses expedite the pace of their digital transformation, according to researcher Fortune Business Insights. It is predicted to reach more than $2.43 trillion by 2030.
“The benefits of the cloud are numerous and tangible, which is why businesses are increasingly embracing it … it is enabling the delivery of cutting-edge technologies like AI and machine learning, as well as user-friendly software solutions such as collaboration tools,” says Jad Haddad, head of digital at Oliver Wyman in India, the Middle East and Africa.
“Moreover, as organisations prioritise security, the cloud offers robust cyber security measures to address the growing concerns in this area,” he adds.
But organisations must ensure their applications are cloud-ready before they make the shift to thwart any slowdown or shutdown of services.
“Increasing network speed and more democratic access to cloud storage have expedited the cloud migration … the next technology era – whether you call it metaverse or spatial computing – will be fully dependent on cloud infrastructure to survive,” says Rolf Illenberger, founder and managing director of software development company VRdirect.
Despite the widespread utilisation of cloud computing, analysts see more scope for growth.
“While many organisations have started to seize the technical advantages of cloud in some applications, far fewer have unlocked the full potential of cloud in support of business transformation,” says Arun Chandrasekaran, vice president at Gartner.
“Organisations are also discovering that harnessing cloud’s strengths at scale requires a more comprehensive [and] business-aligned cloud strategy … CIOs need to master three critical cloud-enabling disciplines – strategise and innovate, mobilise and migrate, and govern and secure.”
Competition in the industry is also intensifying as companies are rolling out new AI-driven cloud solutions to attract more customers.
Amazon-owned AWS, which launched faster chips and new generative AI capabilities last month to boost its cloud offerings, had a 32 per cent market share as of the second quarter of this year (down from 34 per cent a year ago), according to Statista.
It was followed by Microsoft Azure (22 per cent), Google Cloud (11 per cent) and Alibaba Cloud (4 per cent).
Meanwhile, a cohort of start-ups, including Databricks, Snowflake, and HashiCorp, is also significantly shaking up the cloud market. They could either complement big players or pose a threat, depending on their offering.
“Top cloud companies have significantly extended their leadership and built strong moats. At the same time, there are start-ups that have scaled and have been successful … as CIOs increasingly seek multi-cloud offerings and deployments,” Mr Chandrasekaran says.
The start-ups do not pose a threat to established tech players but instead present a “win-win-win situation”, according to Mr Dunakhe.
“Cloud start-ups would trigger the consumption of cloud infrastructure and create more opportunities for cloud-based development platforms.”
However, lack of capital could pose a potential hurdle.
“Companies with more cash on hand, more investors betting on them, and a better innovation culture are more likely to succeed as they will keep on having the upper hand in hiring talent and expanding offerings towards the next innovation,” Mr Monteiro says.
Mr Illenberger adds: “Microsoft and AWS own the cloud market … the services they provide have become the backbone of computing world. Start-ups using their infrastructure will only strengthen their dominant market position.”
Global state-owned investor ranking by size
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United States
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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COMPANY%20PROFILE
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Persuasion
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ECarrie%20Cracknell%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EDakota%20Johnson%2C%20Cosmo%20Jarvis%2C%20Richard%20E%20Grant%2C%20Henry%20Golding%20and%20Nikki%20Amuka-Bird%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%201.5%2F5%3C%2Fp%3E%0A
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY%20PROFILE
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Spider-Man%202
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Insomniac%20Games%0D%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20%20Sony%20Interactive%20Entertainment%0D%3Cbr%3E%3Cstrong%3EConsole%3A%20%3C%2Fstrong%3EPlayStation%205%0D%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
Killing of Qassem Suleimani
MATCH INFO
Inter Milan 1 (Martinez 18' pen)
Juventus 2 (Dybala 4', Higuain 80')
CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Company%C2%A0profile
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MATCH INFO
Uefa Champions League semi-finals, second leg:
Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE
Game is on BeIN Sports
The%20specs
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Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
AUSTRALIA SQUAD
Tim Paine (captain), Sean Abbott, Pat Cummins, Cameron Green, Marcus Harris, Josh Hazlewood, Travis Head, Moises Henriques, Marnus Labuschagne, Nathan Lyon, Michael Neser, James Pattinson, Will Pucovski, Steve Smith, Mitchell Starc, Mitchell Swepson, Matthew Wade, David Warner
Manchester United v Liverpool
Premier League, kick off 7.30pm (UAE)
Key developments in maritime dispute
2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.
2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus
2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.
2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.
2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
Company%C2%A0profile
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The specs: 2018 Kia Picanto
Price: From Dh39,500
Engine: 1.2L inline four-cylinder
Transmission: Four-speed auto
Power: 86hp @ 6,000rpm
Torque: 122Nm @ 4,000rpm
Fuel economy, combined: 6.0L / 100km
The low down on MPS
What is myofascial pain syndrome?
Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (connective tissue that covers the muscles, which develops knots, also known as trigger points).
What are trigger points?
Trigger points are irritable knots in the soft tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and sustained posture are the main culprits in developing trigger points.
What is myofascial or trigger-point release?
Releasing these nodules requires a hands-on technique that involves applying gentle sustained pressure to release muscular shortness and tightness. This eliminates restrictions in connective tissue in orderto restore motion and alleviate pain. Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.
Killing of Qassem Suleimani
Killing of Qassem Suleimani
RESULTS
6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m
Winner Meshakel, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
7.05pm Handicap (TB) Dh87,500 (D) 1,400m
Winner Gervais, Connor Beasley, Ali Rashid Al Raihe.
7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m
Winner Global Heat, Pat Cosgrave, Saeed bin Suroor.
8.15pm Handicap (TB) Dh105,000 (D) 1,900m
Winner Firnas, Royston Ffrench, Salem bin Ghadayer.
8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m
Winner Rebel’s Romance, William Buick, Charlie Appleby
9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m
Winner Topper Bill, Richard Mullen, Satish Seemar
10pm Handicap (TB) Dh102,500 (T) 1,400m
Winner Wasim, Mickael Barzalona, Ismail Mohammed.
'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
UAE currency: the story behind the money in your pockets
