A new study by MIT Technology Review Insights in association with Oracle finds that companies that have a better understanding of the cost of continuing to operate legacy systems versus shifting to the cloud can make appropriate technology investment decisions. And, when organizations consider the cost of technology obsolescence fully, the urgency of cloud investments for continued viability and productivity gains becomes clear. The report describes a growing gap between companies using legacy systems, compared with those using emerging technologies delivered in the cloud, such as machine learning, artificial intelligence, blockchain, and more.
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“When organizations carefully weigh the cost and benefits of cloud investments, our research shows that many companies find that the use of cloud services can actually reduce the cost and raise productivity, with benefits growing over time,” says Mindy Blodgett, senior custom editor, MIT Technology Review.
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The global research, based on extensive analysis and nearly a dozen interviews with business leaders and industry observers, finds that:
- Cloud computing will be mainstream in more than 90 percent of large global companies within three years.
- The use of cloud services accelerates business transformation via new technologies that are designed for optimal use in the cloud.
- Companies need to move to the cloud to enable business opportunities.
- Organizations that resist investing in cloud may find their margins squeezed or growth slowed.