To enable cloud journey, 75% of organizations encounters with talent gap: Report
To enable cloud journeys to address the talent shortage, companies can expand their apprenticeship and internship programs and provide on-the-job training to upskill fresh graduates and build relevant experience.
To enable cloud journey, 75% of organizations encounters with talent gap a EY-FICCI cloud research report revealed
The large-scale cloud adoption has propelled India’s innovation push, and businesses are heavily investing in cloud products to keep up the trend.
The EY-FICCI cloud research, titled ‘India’s cloud and data revolution: From adoption to enabling innovation,’ shows how Indian firms in a variety of industries are aggressively scaling cloud technology. This current wave of cloud adoption goes beyond migration to emphasize the cloud’s advantages for optimizing processes, improving customer experiences, and unlocking new revenue streams.
Abhinav Johri, Partner – Technology Consulting, EY India, commented on the report’s results, saying, “Leadership in the age of the cloud is about more than just technology; it’s about unlocking the full potential of innovation, efficiency, and growth.” With 80% of Indian organizations adopting the cloud to enable a variety of business capabilities such as intelligent applications with Gen AI, native functional & data products, and highly intuitive orchestration platforms, the imperative is clear: embrace the cloud as a transformative change enabler, not just a tool.”
India, a leading global cloud hub
India is becoming a center for cloud-first businesses, with large cloud hubs in Mumbai, Chennai, Hyderabad, and Pune.
Indian GCCs (Global Capability Centers) have evolved into cloud engineering centres for multinational corporations. For cloud service providers (CSPs), India has emerged as a potentially significant market. CSPs have quickly launched additional cloud regions in India, boosting the range of cloud-native services offered to Indian businesses.
GenAI success will be driven by cloud and data
India is currently undergoing a golden period of disruptive data and digital advances. Leading organizations who were early adopters of cloud computing have moved their focus from cost optimization and operational efficiency to exploiting cloud services to construct next-generation digital platforms.
Companies’ broader goals for cloud adoption include data modernisation, application modernization, agility, company development, and innovation.
Generative AI’s success is inextricably linked to cloud computing, since it relies on enormous datasets and powerful computing infrastructure, both of which are fundamental properties of cloud technology.
The use of Generative AI is predicted to increase data usage and cloud resource consumption.
Scalability, availability to pre-trained models, and simplified integration into existing applications are all advantages of using the cloud for Generative AI. However, a strong foundation for ethical Generative AI use is required, taking into account potential risks like as data leaks and biased output. It is critical to strike the correct balance between sector-agnostic recommendations and sector-specific factors.
Cloud based data infrastructure modernisation
According to the poll, firms are increasingly using the cloud to modernize their data architecture, obtain benefits from their data, and gain new insights. Furthermore, firms are concerned with attaining corporate growth, increasing cooperation, increasing workplace efficiency, maintaining security, and protecting data privacy.
According to the poll, 49% of firms are using the cloud to upgrade their data architecture, with larger organizations leading the pack at 55%.
Furthermore, 78% of firms are employing cloud strategies for app modernization, and 40% are leveraging the cloud for collaboration and worker productivity.
Cloud for data monetization and innovation
The exponential growth of enterprises’ data footprints has forced the investigation of fresh data monetization approaches.
Data monetization (63%), developer productivity (51%), and innovation and incubation (43%), are among the key motivators for moving data workloads to the cloud. According to the survey results, cloud adoption enables 80% of firms to enable data and analytics capabilities.
“Data and analytics capabilities are significant enablers for approximately 84% of larger enterprises to adopt the cloud,” said Alexy Thomas, Partner – Technology Consulting, EY India. As India’s cloud-first enterprises promote innovation and long-term success, leadership entails defining a course toward a more robust, digitally-driven future in which effective data and analytics will be critical.”
Challenges to be addressed
1. Adequate cost management: Although cloud adoption may provide significant value when done effectively, many businesses are currently spending nearly 20% more on cloud expenditures each year.
Many firms waste up to one-third of their cloud spending. The cloud saves roughly 20% of the costs for larger firms, but medium and small-scale organizations fall short of their cost-cutting targets.
Businesses should be completely aware of all aspects of cloud economics, including prices for data transfer, support, storage, licensing, migration, security, and compliance. Only 80% of firms were able to save more than 10% of costs by using a hybrid method, whereas 85% employ automatic scaling for cost control.
2. Plugging the talent gaps: Finding cloud-native talents is one of the most difficult difficulties that enterprises of all sizes confront in their effort to modernize their data infrastructure. Almost 75% of firms face this challenge.
Companies can solve the skills shortage by expanding apprenticeship and internship programs and providing on-the-job training to upskill recent graduates and get relevant experience. Organizations can also tap into India’s enormous untapped supply of cloud talent in tier II and tier III cities.
3. Increased cyber risk: Organizations face ever-increasing dangers to security and data privacy as cloud technology evolves. Some of the key problems are inadequate danger notifications and alarms, as well as security system misconfigurations. 53% of firms stated that data and cybersecurity are a challenge.
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