Category Archives: Cloud Computing

VIB will implement the latest Core Banking version R23 from Temenos on the AWS cloud and VIB's private cloud platforms, marking it the first bank to deploy the Temenos Core Banking system on a cloud computing platform in Vietnam. The project is a collaboration with ITSS, a technology solutions and IT services company from Switzerland.

VIB is currently the first banks in Vietnam to implement Temenos Core Banking solution on Cloud, in collaboration with AWS and ITSS. Photo courtesy of VIB

According to Tran Nhat Minh, Deputy CEO and CIO of VIB, with its strategic positioning to become a leading retail bank in Vietnam, VIB is at the forefront of investing in technology initiatives, digitalization, and building an advanced and robust technology platform.

The banking industry in Vietnam is undergoing a significant transformation, driven by an increase in customer demand for digital experiences and the constant advancement of technology.

The migration of core banking systems to the cloud has emerged as a game-changing factor, promising flexibility, innovation, and enhanced customer experiences.

This core banking modernization project on the cloud reaffirms VIB's commitment to continuously improve service quality and operational efficiency while creating a strong foundation to serve customers in a prominent digital era.

In this project, VIB will deploy the latest version of Temenos Core Banking on the AWS cloud and the VIB private cloud. The deployment ensures compliance, safety, and continuous system operation, marking an important step towards the comprehensive restructuring and innovation of VIB's digital platform, aligned with its three drivers: "mobile first, cloud first, and AI first."

With "cloud first," VIB pioneers the deployment of Temenos Core Banking solutions on the cloud, using cloud-native services. This ensures automatic and rapid on-demand infrastructure scalability, superior seamless service delivery to users, mitigating the impact of service disruption, and optimizing development and operational costs.

With "mobile first," mobile banking is one of the key factors, and deploying Temenos Core Banking on the Cloud provides robust APIs, high operational performance, flexibility, enabling VIB to maintain 24/7 services, enhancing the best customer experience, and ensuring seamless access to banking services.

With "AI first," VIB has been focusing on leveraging artificial intelligence (AI) and machine learning to provide predictive analytics and suitable financial solutions.

The deployment of Temenos Core Banking aims to ensure the enhancement of input data quality through tight automated system controls, which is a crucial input supporting the "AI first" key factor.

VIB and partners representatives at the signing ceremony on Feb. 24, 2024. Photo courtesy of VIB

Ramki Ramakrishnan, Managing Director for APAC at Temenos, said that they are delighted to welcome VIB as the first bank in Vietnam to embrace Temenos core banking on the cloud, further solidifying our market-leading position in this vital market.

Temenos serves as the trusted banking platform for large banks globally, including leading Vietnamese banks, spanning the retail, corporate, wealth, and private banking sectors.

Vietnams banking sector has experienced significant growth over the last decade and is home to some of the largest and most innovative banks in Southeast Asia, and VIB is leading the way.

"With VIBs forefront position in cloud-powered banking, we are excited to be working with them as their strategic partner to support their future growth," said Ramakrishnan.

In its strategic transformation phase (20172026), VIB witnesses impressive growth, positioning the bank as one of the leading retail banks in Vietnam.

To date, VIB is one of the most retail-oriented banks in Vietnam, with a retail loan proportion of over 85% of its loan portfolio.

Over the past seven years, it has achieved compounded growth in its credit portfolio of 32% due to strategic business changes and successful penetration and expansion in the individual customer segment.

With the aim of becoming the most innovative bank in Vietnam, VIB is implementing long-term digital strategies, with digital banking witnessing significant growth alongside high penetration and digital conversion rates.

From 2017 to 2023, digital transaction CARG was 100%, with over 94% of retail transactions conducted through digital channels, serving millions of active customers every month.

The implementation of Temenos core banking solution on AWS Cloud marks VIB's latest advancement in its digital transformation journey, contributing to the establishment of a robust infrastructure that serves as the foundation for the adoption and development of cutting-edge technology products.

It also optimizes the customer experience, aligns with growth plans, and accommodates future increases in customer numbers, products, and transactions through digital banking channels.

Eric Yeo, Vietnam Country Manager, AWS, said that the cloud revolution provides capabilities to optimize operations, improve security, reduce operation costs for technology infrastructure, and minimize downtime during peak traffic.

"We are proud to collaborate with VIB and Temenos on this journey to help shape the banking industry in Vietnam. This technology platform will help banks meet and exceed rapid business growth in the future," he stated.

With a diverse product ecosystem and the integration of cutting-edge technologies such as AI and augmented reality (AR), as well as superior convenience and speed, VIB has asserted its position as one of the leading banks in delivering innovative digital products with a customer-centric approach.

The digital strategy also earns VIB recognition from both domestic and international organizations for its high-tech and trend-leading products.

The utilization of Temenos Core Banking solution with its cloud-native and cloud-agnostic features in this project allows VIB the freedom to operate across public clouds such as AWS and VIB private clouds; provides the agility, scalability, and resilience necessary to meet the dynamic needs of modern customers; and fosters an environment of continuous innovation and improvement for VIB.

The new system will also expedite VIB's ability to upgrade, expand, and introduce new digital products and services to the market quickly and significantly save time.

Additionally, with high performance and flexibility, VIB can maintain 24/7 services and provide a better customer experience. Accordingly, customers will benefit from maximum security when using VIB's services, as the AWS Cloud holds over 140 security compliance certifications.

"We are pleased to be putting our more than two decades of digital core banking transformation expertise to work, allowing VIB to innovate faster using cloud capabilities to grow their business while meeting sustainability commitments. What sets ITSS apart are our accelerators, hands-on experience within global markets, and how we keep the end-user experience in mind while driving digital transformations. ITSSs Temenos services and cloud technology expertise pave the way for VIB to deliver mission-driven products and services that delight their customers," Manju HC, Director of ITSS Global, said.

VIB has been pioneering in cloud computing since 2021 and developing a cloud-native mobile banking application with MyVIB.

Temenos is the leading open platform for composable banking, serving 3,000 banks globally, helping them build new services and enhance customer experiences, and achieving triple return on equity and half-industry cost-to-income ratios. For more information, visit here.

ITSS, a global banking software integrator, has supported over 350 Temenos clients since 2001, offering banking technology services and solutions for various banking products, including Transact, FCM, Islamic banking, TAP, Multifonds, Inclusive Banking, and Infinity.

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VIB spearheads banking innovation with deployment of Temenos Banking Platform on AWS cloud - VnExpress International

As we usher in a a burgeoning bull market in 2024, its paramount to turn our attention to the top cloud computing stocks. The last decade has showcased cloud computings role in revolutionizing business operations, enhancing collaboration, scalability, cost-effectiveness, and data security. With these benefits, the cloud computing market is gearing up for massive growth, so investors should eye companies with adaptability to rapid market changes. Looking towards 2024, the business spending on cloud infrastructure is anticipated to exceed $1 trillion for the first time. A growing demand for new platforms and as-a-service options will drive this trend.

The horizon for cloud computing shines even further, with Mordor Intelligence anticipating the market to reach a staggering $1.24 trillion by 2028, growing at a 16.40% CAGR from 2023 to 2028, highlighting its immense potential as an investment hotspot.

Now, lets explore the top cloud computing stocks set to stand out in 2024.

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Amazon (NASDAQ:AMZN) is experiencing a landmark year, with its stock soaring over 74% year-to-date (YTD), largely propelled by its leading cloud computing arm, Amazon Web Services (AWS). AWS stands as the globes preeminent cloud computing entity, a position further solidified by its innovative strides in 2023.

Moreover, the recent AWS Reinvent conference showcased groundbreaking developments in generative AI and enhanced cloud security. Graviton4 and Trainium2 chips, newly unveiled, set to revolutionize generative AI and high-demand workloads, boasting faster speeds and cost savings. Consequently, AWS CEO Adam Selipsky emphasized Generative AIs critical role in cloud infrastructure, focusing on AI training, large language model tools, and AI-centric applications.

Furthermore, AWSs financial performance in its latest quarter mirrors its advancements, with a 13% year-over-year (YOY) revenue increase and a staggering 244% surge in net income. This robust financial health, coupled with TipRanks analysts assigning a strong buy and an 18.48% upside potential, paints a bright future for Amazons cloud computing juggernaut.

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Microsoft (NASDAQ:MSFT) is making significant strides, with Microsoft Azure at the forefront of its generative AI services growing prominence. The introduction of Azure Cobalt, a custom CPU tailored for cloud applications, and Azure Maia, a custom-designed AI accelerator chip, marks a leap in Microsofts cloud computing prowess and its AI infrastructure.

Further bolstering its position in the AI arena, Microsoft has teamed up with NVIDIA to build the worlds fastest cloud AI computer. This collaboration leverages Microsofts Azure infrastructure and NVIDIAs cutting-edge technology, setting a new benchmark in AI technology.

On the financial front, Microsofts robust performance is evident. The company has seen a 13% revenue increase to $56.5 billion and a 26.97% jump in net income to $22.3 billion. These figures, along with a 54.74% rise in stock value YTD and a strong buy rating with a 14% upside potential from TipRanks analysts, solidify Microsofts status as a powerhouse in both technology and the stock market.

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Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) has become a key player in the cloud computing market, offering diverse services ranging from AI and machine learning to data storage. After years of its cloud business operating at a loss, a pivotal change occurred at the beginning of 2023 when Alphabet reported its first operating profit in this domain, marking a significant milestone.

At the Google Cloud Next 2023 event, CEO Sundar Pichai emphasized Alphabets transition to an AI-first strategy. This shift has led to remarkable improvements across Alphabets product range, leveraging AI for enhanced performance and innovation.

Financially, Alphabet showcased its strength with global revenue growth of 11% YOY to $76.69 billion and a net profit surge of 41.55%. Notably, Google Cloud achieved a record $8.41 billion in revenue, a 22.47% increase from the previous year. Reflecting this strong performance, TipRanks analysts assign Alphabet a strong buy rating, with a projected 16.12% upside potential, signaling a bright future ahead for the company.

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Altair Engineering (NASDAQ:ALTR), a trailblazer in computational science and AI, is reshaping the landscape of high-performance computing (HPC) and cloud solutions. Specializing in software for simulation, data analytics, and an array of optimization technology products, Altair caters to a diverse clientele with its ITS portfolio and expert engineering services.

Moreover, ALTRs latest Altair HPCWorks 2024 represents major advancements. This innovative offering integrates AI to enhance user experience and functionality, streamlining distributed workflows and simplifying cloud scaling. Additionally, its integration with NavOps, a sophisticated workload management solution, enables smooth migration of compute-heavy workloads to the cloud, enhancing both visibility and control over cloud resources.

Financially, ALTRs latest quarter results reflect its upward trajectory, showing a 14.8% YOY increase in software product revenues and a 12.3% rise in total revenue. According to Simply Wall St., Altair is projected to grow earnings and revenue by 122.7% and 8.8% annually, positioning the company as a promising cloud computing stock for growth-focused investors.

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ServiceNow (NYSE:NOW), a notable player in cloud computing, serves over 7,700 global enterprise customers with software designed to streamline work processes and bolster cyberattack defenses. NOW shares have seen a remarkable 81% increase YTD and are fast approaching their all-time high from late 2021, showcasing its impressive market performance.

The launch of NOWs latest platform, Vancouver, marks a leap in AI utilization. This advancement allows employees to access data more swiftly and simplifies programming by allowing users to create computer programs using natural language rather than traditional coding. This innovation significantly enhances efficiency in technology use.

Furthermore, NOWs financials show robust growth, with revenues reaching $2.28 billion, a 25% increase YOY, and the companys current remaining performance obligations standing at $7.43 billion. Impressively, NOW has 1,789 customers with over $1 million in annual contract value (ACV), a 17% increase in such customers YOY, highlighting its consistent expansion and solidifying its status as a leading cloud computing firm.

Source: Karol Ciesluk / Shutterstock.com

Datadog (NASDAQ:DDOG) stands out in the cloud computing sector by enabling businesses to effectively manage their cloud infrastructure. Focused on cybersecurity, the company safeguards critical data, and instead of creating its cloud platforms like AWS or Azure, it specializes in overseeing these systems, garnering trust from renowned clients like Twilio (NYSE:TWLO), Nasdaq (NASDAQ:NDAQ), and Maersk (OTCMKTS:AMKBY).

Moreover, Datadog is enhancing AI ecosystems by using Large Language Models (LLM) for efficient troubleshooting. Their new tool for tracking LLM prompts and responses optimizes performance and user experience. Additionally, Flex Logs offers a solution for managing growing log volumes with long-term retention and clear visibility.

Financially, DDOG stands out with a 70% YTD gain and a 226% increase over the past five years. The companys recent 25.4% YOY revenue growth is impressive, and the surge in customers paying over $100,000 in annual recurring revenue, from approximately 2,600 to 3,130 in one year, underscores Datadogs sustained growth and profitability.

Source: Sundry Photography / Shutterstock.com

Zscaler (NASDAQ:ZS) continues to shine as one of the top performers in the cloud computing market. The stock boasts an impressive 101% increase YTD and a 479% gain over the past five years, demonstrating resilience and underscoring its enduring appeal in the sector. At the core of Zscalers success is its robust cloud security platform, which protects critical documents and data across both public and private clouds.

Furthermore, Zscaler kicked off its latest quarter with a robust 40% YOY revenue growth and billings rose by 34%, indicating sustained and strong revenue potential. Collaborating with CrowdStrike and Imprivata, Zscaler recently introduced a zero-trust security solution for healthcare organizations, enhancing visibility and threat protection. These strategic initiatives solidify Zscalers role as a leading force in the cloud computing field.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelors of science degree in applied accounting from Oxford Brookes University.

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Why These 7 Cloud Computing Stocks Should be on Your Radar in 2024 - InvestorPlace

Key Takeaways

International Business Machines Corp. (IBM) said on Monday that it would buy Software AG's enterprise integration platforms for 2.13 billion euros ($2.33 billion) to strengthen its artificial intelligence and cloud computing capabilities.

IBM will acquire Software AG's StreamSets and webMethods platforms, which make up its "Super Ipaas" business, used by 1,500 customers around the world. The all-cash deal is expected to be completed by the second quarter of 2024.

IBM said the deal was part of a focus to enhance its AI and hybrid cloud offerings through strategic M&A deals, and that it will add to the data ingesting capabilities of watsonx. IBM cited research from IDC that predicts the worldwide integration software market will exceed$18.0 billionin 2027 at a compound annual growth rate of 16%.

"This powerful combination helps drive innovation while preparing businesses for AI, no matter where applications or data reside," saidRob Thomas, Senior Vice President at IBM.

Software AG is 93.3% owned by private equity firm Silver Lake, which has been involved in a months-long takeover pursuit and announced a simultaneous delisting offer for Software AG at 32 euros ($34.96) per share.

IBM shares were slightly lower on Monday morning but are up nearly 15% year-to-date.

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IBM to Buy Software AG's Cloud Computing and AI Assets for $2.3BN - Investopedia

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Hey, fellow tech enthusiasts!

Ever dreamt of conquering the AWS Certified Cloud Practitioner Certification in just one week?

Well, buckle up because Im here to guide you through a week-long adventure that could change your career trajectory.

Now, let me hit you with a mind-blowing stat: did you know that 90% of professionals reported an increase in salary after earning an AWS certification?

As someone whos spent over 16 years in the tech industry, including a stint at Amazon, conducted 80 interviews at AWS, and bagged all 12 AWS certifications in a year of joining AWS, Im here to share the secrets.

Maximize your tech careers potential by exploring the handpicked articles in our curated list Tech Career Advice. I strongly recommend delving into this goldmine of knowledge and expertise. Check out this curated list and consider adding these articles to your own list for future reads.

Lets cut to the chase and dive right in, shall we?

Start by immersing yourself in the foundational concepts of cloud computing. AWS offers an excellent free resource, the AWS Cloud Practitioner Essentials course. Its a great way to ease into the cloud world.

Keep in mind, that to access AWS Cloud Practitioner Essentials on the AWS Skillbuilder website, youll be prompted to log in. Ensure youve created an account with AWS Skillbuilder beforehand.

Dive into the AWS Free Tier, which allows you to explore various cloud services without incurring charges. Understanding the practical applications of services like S3, EC2, and RDS is key to acing the exam. Check out AWSs Free Tier offerings to get hands-on experience.

To maximize your chances of success, familiarize yourself with the exam format. AWS provides the exam guide as well as sample exam questions that mirror the real certification exam. Practice makes perfect, and understanding the structure is half the battle.

Engage with practice tests to assess your knowledge and identify areas that need extra attention. Websites like Udemy and A Cloud Guru offer comprehensive practice exams. Remember, practice tests are your secret weapon for exam success.

AWS exams often include real-world scenarios. Dive into AWSs whitepapers and case studies to understand how cloud concepts are applied in practical situations. Its not just about theory; its about real-world application.

As you approach the finish line, review your notes, revisit challenging topics, and refine your understanding. The AWS Cloud Practitioner Exam Readiness course is a fantastic resource for finalizing your preparations.

On the big day, keep calm, and remember your strategies. Manage your time wisely, tackle the questions youre confident about first, and go back to the challenging ones later. And hey, dont forget to breathe!

Boost your learning by enrolling in two distinct on-demand video courses. Consider one from Udemy and another from an entirely different source. I particularly recommend a free course available on YouTube access it here. This diverse approach enhances your understanding from multiple perspectives.

You did it!

Passing the AWS Certified Cloud Practitioner exam in one week is an incredible feat.

Celebrate your achievement and proudly add this certification to your professional arsenal.

Your journey into the cloud has just begun, and the skills youve gained will open doors to exciting opportunities in the tech industry.

Remember, the cloud is vast, and theres always more to explore.

Keep learning, keep growing, and let your AWS journey be a testament to your passion and dedication in the ever-evolving tech landscape.

Best of luck on your AWS certification adventure!

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Pass the AWS Certified Cloud Practitioner Certification in One Week - Medium

The cloud has completely changed how companies access and manage their applications and data. Instead of relying on locally hosted services, there has been a shift to cloud hosting. Cloud computing stocks are critical in providing the necessary infrastructure and services.

Today, this transition from on-premises to the cloud is in its early innings and these stocks are significant beneficiaries. According to Gartner, cloud spending will continue to grow due to IT modernization and cost optimization efforts. In 2023, they expect public cloud spending to grow by 20.7%.

Businesses have been migrating to the cloud for several reasons. First, the cloud provides greater IT resiliency. Secondly, it drives cost optimization of IT infrastructure, maintenance and application development. Thirdly, the cloud drives business value by enhancing product development and providing scalable computing power.

As organizations move their infrastructure, business processes, and applications to the cloud they are seeing immediate results. McKinsey notes that companies that adopt cloud computing are more agile and serve their customers better. They expect that cloud adoption will generate over $3 trillion in EBITDA value by 2030.

Today, businesses are using cloud platforms to run major business processes and digitize their core operations. As migration of back-office workloads to the cloud accelerates, these cloud computing stocks to buy will be winners.

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While Amazon (NASDAQ:AMZN) is famous for its e-commerce business, its cloud services business is one of its most profitable segments. Amazon Web Services is the leading cloud service provider with a market share of 32% as of Q2 2023. Given the dominance of AWS, Amazon is one of the best cloud computing stocks to buy.

Millions of businesses globally, including large enterprises like Netflix (NASDAQ:NFLX), rely on AWS. Using the service, they access storage and compute resources from any location. Overall, AWS offers more than 175 services, including various security, database and management tools over the cloud.

AWS pioneered on-demand cloud services, launching the service in 2002. Today, its a juggernaut with net sales of $87.9 billion over the last 12 trailing months. Whats more, its Amazons most profitable segment. Over the same period, it generated over $22.7 billion in operating income.

The growth in AWS is still impressive and revenues grew 12% year-over-year in Q3 fiscal year 2023. CEO Andy Jassy sees more opportunities ahead since 90% of the global IT spend is still on-premises. This spending will shift to the cloud over the next decade, benefiting Amazon.

AWS continues to have the best operating performance and ecosystem of partners. Additionally, the service is leveraging generative AI to transform the customer experience. Going forward, it will be integral to customers AI strategy, making Amazon a must-own stock.

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Salesforce (NYSE:CRM) is the leading cloud customer relationship management platform. Its platform unites sales, service, marketing, commerce and IT functions and draws customer data from systems, apps and devices. This allows a comprehensive view of the customer with valuable insights to drive higher engagement.

Large enterprises consider Salesforce a critical tool for their interactions with customers. They use products such as Tableau, Slack, MuleSoft, the Data Cloud, Sales Cloud and the Service Cloud for customer service.

Today, Salesforce is the third-largest enterprise software company by revenue. Yet, the company sees opportunity in bringing together CRM, data, artificial intelligence and trust. Its the number one AI CRM and that is supporting customer growth, as recent results showed. For instance, in Q3 FY2024, it saw deals more than $1 million grow 80% YOY.

Management sees a total addressable market worth $290 billion. Salesforce expects to capture a significant piece of this pie by capitalizing on its land and expand strategy. Considering the solid demand outlook, they hope to achieve $50 billion in revenue by fiscal 2026.

On the profits front, the firm has been improving after activist pressure. In Q3 FY2024 non-GAAP operating margin was 31.2%, a material increase from 22.7% in the prior years quarter. Still, there is room for improvement, considering that peer Adobe (NASDAQ:ADBE) has consistently achieved margins above 45%.

For fiscal 2024, management expects 11% revenue growth YOY. Furthermore, earnings will improve with additional productivity gains and cost discipline. Indeed, Salesforce is positioned for the AI revolution and is a top cloud computing stock.

Source: Sundry Photography / Shutterstock.com

Some of the departments seeing significant digitization are finance and human resources. Workday (NASDAQ:WDAY) provides enterprise cloud applications that meet the needs of these departments. Considering that more than 50% of Fortune 500 companies use the platform, it is one of the best cloud computing stocks to buy.

Notably, Workday boasts more than 65 million users on its platform across finance and human capital management. According to Gartner, the company held a 21% market share in ERP worldwide software as a service (SaaS) at the end of 2022. Thats the largest share, highlighting the high customer loyalty with a 100% net revenue retention rate.

According to Mizuho analyst Siti Panigrahi, Workday is well-positioned over the long term. There are multiple growth opportunities through the finance platform uptake and international expansion. The midmarket is another growth opportunity for one of the best cloud computing stocks.

Workday is benefiting from the digitization of back-office functions and their migration to the cloud. On the financial analyst day, management highlighted a $142 billion market opportunity, $58 billion in HCM and $84 billion in finance. In line with this view, they expect 17-19% annual subscription revenue growth over the next three years.

Parallel to these growth targets, the firm is focused on profitable growth. Management expects to achieve 25% non-GAAP operating margins through scale and operating efficiencies. Whats more, they expect 25% free cash flow margins. Workday will unlock growth through international expansion, growth in finance, AI and more partnerships.

On the date of publication, Charles Munyi did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Charles Munyi has extensive writing experience in various industries, including personal finance, insurance, technology, wealth management and stock investing. He has written for a wide variety of financial websites including Benzinga, The Balance and Investopedia.

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3 Cloud Computing Stocks You'll Regret Not Buying Soon: December Edition - InvestorPlace

Technology is lately changing at a rapid speed. A big part of this change is due to cloud computing. Instead of getting computer services the traditional way, cloud computing delivers them over the internet. It covers everything including servers, storage to databases, networking, software, analytics and intelligence as well. Individuals can access and utilize these services without the burdensome task of paying for and maintaining physical infrastructure.

Experts think the global cloud computing market is going to grow a lot. It is anticipated to grow at a compound annual growth rate (CAGR) of 15.1%. The market is expected to rise up from USD 626.4 billion in 2023 to USD 1,266.4 billion by 2028.

A plethora of things are making the cloud computing industry grow. Lots of different businesses are desperately looking cloud services. Also, using new technologies like edge computing, 5G, big data, artificial intelligence (AI) and machine learning (ML) is pushing the industry forward.

Let us look at what is happening in the cloud computing world. There is a cool trend called hybrid clouds, which mix on-site stuff, private and public clouds. It is like getting the best of both worlds saving money, being flexible and staying in control and secure.

There is another cool trend and it is cloud-native apps. These apps are made using special cloud ideas like serverless stuff, microservices, containers and DevOps. They make the most of the clouds power, giving users flexibility, scalability, toughness and the ability to move around easily.

Something new and exciting is further here. It is edge computing. It changes how we do things. Instead of putting all the computer stuff in one place, it brings it closer to where we use it. This makes our data more secure, private and reliable.

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Cloud Computing Market Predicted to Hit US$1,266.4 Billion by 2028 - TechiExpert.com

Adam Selipsky is shepherding Amazons cloud unit at one of the most important moments in tech history.

Selipsky, the CEO of the companys cloud computing unit AWS, has been behind the various generative AI offerings Amazon has rolled out over the past few months as it aims to compete with Microsoft and others in the growing AI arms race.

AWS is a leader in the cloud market and a deeply profitable business for Amazon. However, some of its growth has been slowing down the past few quarters, a problem attributed to customers cutting back on their spending due to challenges with the wider economy.

Amazon Web Services CEO Adam Selipsky speaks Nov. 30, 2022, at an event in Las Vegas.

Simultaneously, the business has been at the forefront of Amazons push into generative AI, which flooded the public consciousness last year with the release of OpenAIs popular chatbot ChatGPT. During a speech held late November at an AWS conference in Las Vegas, Selipsky unveiled the companys response (kind of) to ChatGPT an AI assistant for businesses called Q.

The Associated Press recently spoke with Selipsky about how companies are spending on cloud services, Amazons investment in the artificial intelligence startup Anthropic and the future of generative AI. The conversation has been edited for length and clarity.

Q: Companies have been cutting cloud spending this year. Is that still happening?

A: A lot of our customers over the past several quarters have been pursuing cost optimization. Since day one, weve said that AWS and the cloud are the place to do that. Weve seen that a lot of customers have gotten far through that cost optimization. And we have other customers who are still in the middle of it. Were further through it, but its not over yet.

Were also still seeing a lot of customers investing. The companies who are going to win are the ones who are investing now in uncertain economic times when some others are hesitating in their overall investments. And were working with a lot of customers who are doing just that. Were also seeing tremendous interest in our generative AI offerings.

Q: Whats your vision for generative AI?

A: We really think about three different layers of the generative AI stack.

At the bottom layer of the stack is the infrastructure required to to do generative AI. We have a very large Nvidia GPU-based business and have designed and delivered our own custom-designed chips, including our Trainium and Inferentia chips.

At the top layer of the stack is consuming applications that have been built using generative AI. And for that, we have a coding companion for developers.

Q: Speaking of models, there were reports that Amazon is building a large language model called Olympus. Is that something that we should expect to see soon?

A: You should definitely expect to see multiple iterations of Amazons first-party models, which are already out there today under the Titan brand. It goes back to the idea that theres no one model to rule them all. We want multiple models with different use cases. And I expect that they will collectively be very capable and very powerful.

Q: Can you chat with me about Amazons investment in the artificial intelligence startup Anthropic? There are reports that Google, which is also backing Anthropic, is upping its investments. Some say this is becoming some sort of proxy war between Amazon and Google. Do you see it that way?

A: No, I dont. We have a very close, very tight relationship with Anthropic thats very beneficial to both companies. Anthropic has chosen Amazon as its primary cloud provider for its mission critical workloads. The majority of Anthropic workloads will run on AWS. Period.

Q: How does Amazon think about safeguards as its building this technology?

A: Responsible AI is incredibly important and something that Amazon has been taking very seriously. We have a number of principles for responsible AI that weve been public about. Weve done things like create these cards for our services, which talk about the uses of the model, the intended use of the model, about how they were trained. We try to provide more transparency into how some of these AI services are constructed and what theyre used for.

We think that a lot of the solutions around responsible AI are going to need to be multilateral solutions. We need a collaboration between cloud industry leaders, folks like AWS, and those producing models, like Anthropic, as well as governments, academia and others. Thats why weve been so active at participating in responsible AI forums at the White House and in the U.K.

Q: Where do you see the AI race going next year?

A: I think youre going to see a very rapid evolution and change. And thats partially reflective of the fact that we are still so early in the evolution of generative AI. Thats why I think adaptability and flexibility are actually incredibly important advantages for customers. In order for them to succeed with their business objectives and to delight their customers, theyre going to need to be very flexible, agile and adaptable in how they evolve their use of generative AI.

In the latter half of the 20th century, TV watchers and moviegoers began to meet a long list of intelligent machines: "The Jetsons'" maid Rosie, B-9 from "Lost in Space," HAL 9000 from "2001: A Space Odyssey," the "Star Wars" saga's C-3PO and R2-D2, and dozens more.

Science fiction laid out some of the basics of artificial intelligence for people, not only by presenting humanoid robotic characters, but also by explaining in dramatized ways the extent to which AI could influence human existence.

In the real world, AI is not a new concept either, even though the recent boom of applications such as ChatGPT might make it seem so. In the 1950s, a generation of mathematicians and scientists explored AI and its applications in human life. However, technology had not developed enough to pave the way for these AI pioneers to put their theories to the test.

In today's era of big data, eight decades after Alan Turing conceptualized the idea of computers thinking and behaving like humans, AI is an intrinsic element of daily lifeautomating everyday tasks that otherwise consume large amounts of time. It has already increased efficiency and boosted performance in the banking, entertainment, technology, retail and marketing fields, among others, prompting the proliferation of jobs related to AI at all career levels in most industries.

Revelo looked at data from a 2022 McKinsey report to see which jobs were the top jobs in AI, examining only companies that have adopted AI in at least one function. TheWorld Economic Forum projects that new jobs will arise and others will be ousted by the changes in tasks performed by humans and machines.

According to aPwC AI study cited by WEF, "any job losses from automation are likely to be broadly offset in the long run by new jobs created as a result of the larger and wealthier economy made possible by these new technologies." It's unclear how long that "long run" might be, but there are plenty of opportunities to get involved in the industry now.

The following analysis ranks jobs based on the percentage of companies that hired for each particular role. The data also looks at the same measurement, but only for "AI high-performers," those companies that are industry leaders in AI.

- Share of companies who say they have hired for this role in the past year:

-- 33% of AI high-performing companies

-- 31% of all other companies

Combining computer science and design skills, data architects analyze the data framework of an organization to develop and improve database models. They store and organize company information so it can be easily retrieved when needed. Data architects must be knowledgeable in SQL and Oracle database management systems and data visualization software.Because AI initiatives require effective company-wide architecture, data architects are crucial to the success of AI projects.

- Share of companies who say they have hired for this role in the past year:

-- 58% of AI high-performing companies

-- 27% of all other companies

Machine learning engineers create, develop, and test artificial intelligence programs, software, predictive models, and algorithms that help machines identify patterns and act autonomously. Their skillset must include scripting, programming, and data science and statistics expertise.These engineers are tasked with constantly improving the design of a company's machine learning, which is very complex and increasingly in demand.

- Share of companies who say they have hired for this role in the past year:

-- 60% of AI high-performing companies

-- 31% of all other companies

AI data scientists apply analytical and coding skills to examine data and gather the information needed to design custom-made solutions for organizations. They search for and present their findings and suggestions to stakeholders to help them make strategic, informed decisions. When they specialize in AI, data scientists feed information to programs to mimic and optimize existing processes while developing new strategies.Data scientists are in demand because, as AI technology continues to advance, the people in these roles help companies make smart decisions with data as well as automate business processes that improve efficiency and lower operational costs.

- Share of companies who say they have hired for this role in the past year:

-- 46% of AI high-performing companies

-- 37% of all other companies

Building data channels to route information properly from various sources is the primary responsibility of data engineers. They consolidate, tidy up, and structure raw data to make it accessible and understandable for business analysts.Just as companies need data scientists to collect and analyze the data, they need data engineers to turn it into a collection that AI models can use.

- Share of companies who say they have hired for this role in the past year:

-- 42% of AI high-performing companies

-- 40% of all other companies

Software engineers can choose from a wide range of career options; they can design and develop programs, such as computer games or network control systems. Their main duty is to generate and optimize business applications, which makes them highly sought-after tech professionals in most industries. Software engineers must have a strong knowledge of computer engineering and programming languages.AI companies utilize software engineers to not only build AI applications but also to maintain AI systems. Their insights are invaluable to the future of AI companies because the AI models they build help inform companies' decisions.

Data reporting by Wade Zhou. Additional writing by Kelly Glass. Story editing by Jeff Inglis. Copy editing by Kristen Wegrzyn. Photo selection by Ania Antecka.

This story originally appeared on Revelo and was produced and distributed in partnership with Stacker Studio.

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AWS chief Adam Selipsky talks generative AI, Amazon's investment in Anthropic and cloud cost-cutting - Omaha World-Herald

Partnership will advance the reach and functionality of Microsoft Azure cloud, through global, high-speed low latency satellite connectivity and advanced edge compute solutions.

Mangata Networks, a global company offering satellite-enabled connectivity & intelligent edge computing solutions, has signed a partnership with Microsoft aimed at developing an AI-enabled edge cloud product connected via satellite. This partnership represents a long-term commitment between Mangata Networks and Microsoft, marking the beginning of a sustained collaborative journey aimed at continuously advancing cloud technology through innovative satellite connectivity.

Partnership Accelerates Azure Adaptive Cloud Adoption

Mangata will provide seamless connectivity and intelligent cloud computing services around the globe, bringing the benefits of Azure innovation anywhere in the world.

The network is powered by a multi-orbit constellation of HEO (highly elliptical orbit) and MEO (medium Earth orbit) satellites and a terrestrial network of edge data centers.

We are thrilled to develop this transformative product in strategic collaboration with Microsoft, further enriching the Microsoft commercial marketplace ecosystem. Microsofts direct sales channels will play a crucial role in scaling our innovative solutions to enterprises globally. Our offering is not just a product but an all-encompassing network, infrastructure, platform, and software service. With capacity bundled into the service, we provide a seamless, integrated SLA that simplifies the adoption of our services for customers. saidBrian Holz, CEO of Mangata Networks. This is more than a partnership; it is a long-term alliance set to redefine how enterprises leverage the cloud and intelligent edge compute.

Innovative Features and SLAs Redefining Edge Cloud Connectivity and Business Transformation

A core element of the partnership is a deep commitment to innovation, where Mangata Networks will collaborate with Microsoft and execute against an integrated Edge-to-Space-to-Cloud product roadmap.

Leveraging Microsofts generative AI and data analytics capabilities, Mangata will, in close collaboration with Microsoft, re-imagine the entire product innovation lifecycle. These efforts will include integrating AI capabilities end-to-end; from customer and partner feedback and requirements definition through to how we roadmap, create, code, test, deploy, run, and support customer solutions. This initiative will result in delivering Azure adaptive cloud solutions, specifically designed to address unique and complex business problems at the edge, enabling and accelerating customer outcomes in a culturally sensitive way.

Mangatas managed service will extend the geographical reach and functionality of Azure adaptive cloud. These collaborative solutions will deliver an array of innovative features, including AI-enhanced network routing at the edge, remote bandwidth optimization, workload management, real-time data processing, digital twin support, advanced satellite backhaul management, end-to-end cloud-edge IoT applications, 5G integration standardization, and multivendor sub-system integration (for example, ORAN and RAN-based equipment).

The Mangata and Microsoft solution using Azure will be made available through theAzure Marketplace, offering end-to-end application-level Service Level Agreements (SLA) with bundled connectivity. This comprehensive approach ensures a seamless experience for users seeking advanced and integrated solutions. Under the terms of the agreement, Microsoft will position Mangata as an Independent Software Vendor (ISV) on the Azure platform. This move will empower Mangatas growth trajectory, with Microsoft providing substantial support in terms of technology, resources, engineering, as well as go-to-market backing.

Processing Data at the Best Location

With powerful edge compute and data management capabilities, customers can process data where it is created, reducing latency and time-to-insight by hosting advanced analytics and AI-inferencing at the edge. Valuable data, previously discarded due to lack of available bandwidth,can now be sent to cloud services like Microsoft Fabric, an end-to-end, unified analytics platform that brings together all the data and analytics tools organizations need -where it can be used to train and retrain AI models- to yield deeper operational insights.

For highly regulated organizations and governments, and for geographies with strict data sovereignty rules, applications can process sensitive data at the edge, keeping it within national or regional boundaries and only sending what is allowed to the public cloud.

In collaboration with Mangata, we look forward to delivering an end-to-end Cloud and Edge platform to enterprise and government customers. This platform will enable business and mission critical applications anywhere with committed availability through satellite connectivity. Mangata will leverage Microsofts portfolio of Microsoft Azure Space and Azure for Operators to run their satellites constellation and edge platform. This collaboration is key for our continued commitment to empower our customers with intelligent, secure, and resilient technology. said Mitra Azizirad, President and Chief Operating Officer, for Growth, Innovation and Strategy, Microsoft Strategic Missions and Technologies.

Addressing Global Challenges and Closing the Digital Divide

This collaboration is set to address critical challenges on a global scale related to sovereign state requirements, enterprise innovation, maritime and digital ocean transformation, data gravity, and telecommunications access and capacity needs.Mangatas mission to empower the exchange of knowledge through global connectivity and to revolutionize access to the digital economy aligns with theAirband Initiative, a collaboration between Microsoft and the United States Agency for International Development (USAID) focused on closing the global digital divide by bringing internet access to all.

A New Era of AI-enabled Edge Cloud Computing

The pilot phase of the pre-integrated solutions in customer trial networks is scheduled to commence in the late 2nd quarter of 2024, ahead of Mangatas planned constellation launch.

This initiative is poised to revolutionize the way businesses and governments worldwide harness the power of edge cloud connectivity through satellite technology. Together, Microsoft and Mangata will create a new platform for highly reliable, scalable, and robust IoT and SCADA applications at the edge, all connected to and managed by Azure. The collaboration marks a significant step toward a more connected, intelligent, and accessible future. This collaboration is not just a milestone but a starting point for a long-term journey between Mangata Networks and Microsoft, where both entities are committed to a lasting partnership that evolves with technological advancements.

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Mangata Networks and Microsoft Partner on AI-enabled Edge Cloud Connectivity - AiThority

Photo by Aditya Joshi on Unsplash

The democratization of technology refers to making complex technologies more accessible, easy to use, and available to a wider population. Both cloud computing and artificial intelligence (AI) have seen significant democratization over the past decade, allowing more people and organizations to leverage these powerful technologies. However, the pace and extent of democratization varies between the two.

The emergence of public cloud platforms such as AWS, Microsoft Azure, and Google Cloud in the mid to late 2000s truly democratized access to scalable computing infrastructure and services. Before public clouds, organizations had to invest heavily in their own data centers and IT infrastructure to scale compute resources. The public cloud eliminated the need for huge upfront investments and allowed usage-based pricing, lowering the barrier to entry significantly. Startups and smaller organizations could now leverage advanced IT resources that were previously only accessible to tech giants.

The user interfaces of leading cloud platforms have also become significantly easier to use over the years. Abstractions like infrastructure as code (IaC) and containerization make complex deployment and orchestration feasible through simple interfaces. Services like AWS Lambda introduced serverless computing so developers simply need to write and upload code to run applications without managing underlying infrastructure. These abstractions and ease-of-use capabilities opened up cloud computing for a much broader user base, beyond just expert IT professionals.

AI services like image recognition, natural language processing, and machine learning were also mostly limited to tech giants like Google, Amazon, Microsoft, etc until this decade. But in recent years, there has been an explosion of easy-to-use SDKs, APIs, cloud services, open-source frameworks, and development platforms that enable anyone to integrate advanced AI capabilities into their applications. For example, cloud vision APIs allow developers to add image recognition into apps without needing deep expertise in computer vision techniques.

However, much of AIs complexity still lies under the hood. Understanding how to properly train, validate, and constrain AI models requires advanced mathematics and coding skills. Complete no-code solutions dont yet fully abstract away these complexities compared to some cloud capabilities. So in terms of depth of access to core technologies, there is still further democratization needed in the AI space. But turn-key AI cloud services are a large step forward in expanding access.

SaaS startups provide a compelling case study contrasting the democratization advantages found in cloud vs AI platforms today. As a small startup, they benefited greatly from the ability to get cloud servers and databases up-and-running immediately with low costs. This allowed them to get their web and mobile applications to market rapidly without dedicated infrastructure investments.

However, they found integrating more advanced AI capabilities like predictive analytics difficult without specialized skills. While some API access was available, they struggled to combine data streams and train algorithms that optimized for their industry and data types. Unlike available cloud infrastructure, they encountered barriers translating AI into business advantages without either building in-house expertise or outsourcing considerable work and costs.

The gap between access and expertise represents the next phase of democratization needed to bring more advanced AI to a broad group of organizations and users. Like weve seen with cloud, progress is anticipated but the balance of empowerment still tilts more towards infrastructure and compute resources today.

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Democratization of Cloud vs AI: A Case Study - Medium

5 Drivers Behind the Growth of the GPU Cloud Computing Market

Graphics Processing Units (GPUs) are specialized computer chips originally designed for use in gaming, but have recently found a second life on the cloud because of their capabilities in high performance computing.

GPUs use parallel processing to efficiently and effectively solve complex problems across a wide range of domains, much faster than the serial processing approach of CPUs.

In this visualization for HIVE Digital, we look at five drivers behind the growth of the GPU cloud computing market.

Large Language Models, like OpenAIs ChatGPT and Googles Bard, have surpassed human performance on a variety of tasks in part because of increasingly large training datasets.

In 2008, a NEC Laboratories model used a training package with 6.33 x 108 (633 million) datapoints. By 2023, an Abu-Dhabi-based lab used a training dataset with 2.63 x 1012 (2.63 trillion) datapoints, 10,000 times larger than 15 years earlier.

Autonomous vehicles collect huge amounts of data from a host of onboard sensorspotentially between 380 and 5,100 terabytes every yearand finding an effective and efficient way of processing that information has been a key focus for carmakers.

One approach, which combines onboard processing power with the resources of the cloud, prevented collisions in simulations of vehicles moving up to 45 mph, even when network lag was as high as 3 seconds. That improved to 50 mph when cloud response time was reduced to half a second.

Modern drug development typically begins by running computer simulations on millions of candidate molecules to look for potential matches to advance to expensive, lab-based testing.

Normally these operations run on scarce high-performance computing resources that can take weeks or months to complete. A recent study that used the cloud was able to complete a typical dataset in around two days, comparable to a Tier 2 supercomputer.

Streaming games on the cloud is big money, with Microsoft recently doling out an eye-watering $68.7 billion to acquire Call of Duty publisher Activision Blizzard and cement their already significant market share.

According to papers filed with the U.K. Competition and Markets Authority, Microsofts xCloud held 50-60% of the global cloud gaming market in 2022, twice that of second-place Nvidia. Googles Stadia, on the other hand, had less than 5% of the market when they wound down operations in January 2023.

When latency is critical for an application, the shorter the distance between the cloud and the user, the better.

Thats why edge computingso named because processing happens at the edge of the networkhas become critical in industries as varied as health care and autonomous vehicles, where every fraction of a second counts.

So its no surprise that the global GPU cloud market is projected to increase from $3.2 billion in 2023 to $25.5 billion by 2030, at an impressive CAGR of 34.8%.

HIVE Digitalexports renewably sourced computing power to customers all over the world, helping to meet the demands of emerging technologies like AI.

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5 Drivers Behind the Growth of the GPU Cloud Computing Market - Visual Capitalist