The cloud has revolutionized the way many businesses and even entire industries operate, and it isn’t slowing down in 2024. This year is poised to bring new developments in the realm of cloud computing — and businesses stand to gain much from these innovations. From emerging technologies to new ways of using old ideas to the increased availability of cutting-edge tools, there’s a lot to be excited about.
Let’s take a look at what businesses can expect from cloud computing in 2024 and how they can take advantage of these developments.
AI-enabled cloud solutions and AIaaS
The AI craze shows no signs of stopping, and there are good reasons for that. Not only are AI and machine learning tools growing in power and capability at a prodigious rate, but these tools are also being made available to businesses of all sizes and budgets continuously. Whereas before, only large enterprises could develop and maintain bespoke AI tools, AI-as-a-Service (AIaaS) levels the playing field.
AIaaS lets SMBs purchase access to AI language models, big data sets, and other tools that they can then customize to their needs. There’s no need to develop new AI or even invest in servers or rack space. Just as with the cloud itself, users can just pay for what they need and reap the efficiency and innovation benefits.
“At-home” cloud development
Technical expertise is no longer an absolute barrier to building complex applications or managing cloud infrastructure. In 2024, intuitive tools such as low-code/no-code platforms and drag-and-drop cloud interfaces are breaking down these barriers. This empowers individuals, regardless of their technical background, to bring their ideas to life and leverage the power of the cloud, fostering a more inclusive and innovative technology landscape. This also means that it’s easier than ever for businesses to develop custom cloud solutions in house that are built from the ground up with their specific needs in mind.
Computing on the edge
Edge computing is an approach to cloud computing where data processing occurs close to its source. So instead of sending all data to be analyzed to the same data center for processing, each data set is sent to the closest computing asset that can handle it, improving speed and latency. This computing asset could be the nearest data center, an on-premises server, or even an onboard device that gathers the data in some cases.
In 2024, advancements such as smaller and more power-efficient processors, memory-efficient algorithms, and enhanced networks such as 5G contribute to the increasing viability of edge computing for a wide array of applications. When applied to business operations, it can offer increased speed and response times, as well as reduce overhead costs and other resource expenditures.
Tighter competition in the cloud sector
As more and more businesses migrate to the cloud and increase the size of the market, the big players such as Microsoft, AWS, and Google are stepping up their efforts to increase their share. This will come in the form of new features and capabilities, as well as new financial incentives and payment options. The pay-as-you-go model that charges users only for what cloud resources they use is beginning to edge out the older subscription model that charges for the maximum workload, and providers will look to adjust in 2024.
While businesses can benefit from this increased competition, they will need to monitor changes and research alternatives to find the best fit for their needs and budget.
Preference for hybrid cloud setups
Hybrid cloud setups involve having a private cloud network working in tandem with a public cloud infrastructure. While they aren’t new, it’s going to be novel how much more cost-effective and viable they will be in 2024.
This is an attractive option for businesses that want the convenience and cost savings of a public cloud setup (AWS, Google Workspace, etc.) but also need the security and control on-premises cloud solutions offer due to data security and compliance requirements. Organizations are increasingly favoring multicloud and hybrid cloud solutions, since these offer both security and flexibility, allowing them to select and utilize services according to their specific requirements.
2024 is shaping up to be an exciting year for cloud computing. Ready to unleash the power of the cloud? Unlock the full potential of your business with SpectrumWise’s trusted cloud solutions. Talk to our tech experts today.
