54% of organizations use the cloud for ESG compliance to drive sustainability, significant room for improvement in leveraging the cloud to address scope 1, scope 2, and scope 3 carbon emissions.
A new survey report by MIT Technology Review Insights, in partnership with Infosys Cobalt, examines how cloud capabilities play a crucial role in accelerating the global economy’s next stage of digital transformation, spanning cybersecurity, sustainability, AI, and more.
The “2023 Global Cloud Ecosystem” report is based on in-depth secondary research and analysis, along with interviews with global experts on the cloud economy. MIT Technology Review Insights also conducted a global survey of 400 C-suite executives. The respondents represent four regions (North America, Europe, Asia, and Australia, and New Zealand), covering 12 industry sectors.
The key findings are as follows:
Cloud helps the top and bottom line globally. More than eight out of 10 survey respondents report more cost-efficiency due to cloud deployments. Eighty-two percent say they are currently tracking cloud ROI and 66% report positive ROI from cloud investments.
Cloud-centric organizations expect strong data governance (but don’t always get it). Strong data privacy protection and governance is essential to accelerate cloud adoption. Perceptions of national data sovereignty and privacy frameworks vary, underscoring the lack of global standards. Most respondents decline to say their countries are leaders in space, but more than two-thirds say they keep pace.
All in for zero-trust. Public and hybrid cloud assets raise cybersecurity concerns. But the cloud is required to grow AI and automation. Because of the risk associated with AI, the zero-trust user paradigm has gained wide acceptance across industries.
Sustainability in the cloud. The cloud’s primary function—scaling up computing resources—is a key enabler for compliance issues such as security, privacy, and environment, social, and governance (ESG). Fifty-four percent of respondents say they use cloud tools for ESG reporting and compliance, and 51% use cloud to enhance diversity, equity, and inclusion compliance.
“As cloud investment gears up to command a significant amount of global IT infrastructure spending in 2023, the dynamic interplay between flexibility, efficiency, and productivity becomes clear,” says Laurel Ruma, global editorial director, MIT Technology Review Insights. She continues, “The cloud’s potential is unmistakable, and this report serves as a beacon for decision-makers seeking to harness its power for innovation and growth.”
“Cloud has demonstrated a clear ability to impact the bottom line, and organizations globally are committed to next-gen technology development strategies that are powered by the cloud,” says Anant Adya, executive vice president and service offering head, of Infosys. “The findings from the ‘2023 Global Cloud Ecosystem’ report, which we have created with MIT Technology Review Insights, give us a global view of how technology decision-makers are leveraging cloud resources to grow and transform their operations. With Infosys Cobalt, we aim to harness the full potential of cloud technology to address the various challenges faced by industries, including growth, costs, and innovation.”
About MIT Technology Review Insights
MIT Technology Review Insights is the custom publishing division of MIT Technology Review, the world’s longest-running technology magazine, backed by the world’s foremost technology institution—producing live events and research on the leading technology and business challenges of the day. Insights conducts qualitative and quantitative research and analysis in the U.S. and abroad and publishes a wide variety of content, including articles, reports, infographics, videos, and podcasts. Through its growing MIT Technology Review Global Insights Panel, Insights has unparalleled access to senior-level executives, innovators, and entrepreneurs worldwide for surveys and in-depth interviews.