What do businesses want from the cloud? It used to be all about efficiency. We probably all know the cloud mantra of economies of scale, low upfront investment, flexibility and lower running costs. However, businesses are starting to look for something more, according to analysts. The second wave of cloud is all about innovation.

Buying into the idea

Invitation to Innovate - Image for posts.jpgNaturally, the attributes that make cloud appealing to businesses from an efficiency point of view also make it appealing to those looking to innovate.

The cloud makes it easier, cheaper and faster for businesses, particularly startups, to show investors how their ideas will work in reality. In fact, a World Economic Forum report ‘Exploring the Future of Cloud Computing: Riding the Next Wave of Technology-Driven Transformation’, cites a venture capitalist who says: “We no longer fund companies based on PowerPoint proposals. We fund them based on live, working solutions hosted in the cloud.”

It’s clear that cloud computing has the capacity to level the playing field for innovation.  And it’s not just start-ups that are looking to create new opportunities. Many countries, particularly those in the process of rapid growth and industrialization see the potential of cloud computing to fuel their growth.

Leveling the playing field

Emerging economies have the potential to leapfrog a technological generation with cloud computing. They can access world-class IT infrastructure without having to build it themselves. They can move straight to a cloud model in the way that some countries skipped fixed-line telephones and went straight to mobile phones.

Of course, many of these countries don’t yet have the communications infrastructure to take full advantage of cloud computing. But, people in these regions are already accessing cloud services with mobile phones.

Unlocking the cloud

This week, World of Innovation has been looking at cloud computing. Visit the site to see how you can unlock the potential of the cloud.

Visit World of Innovation

Related:

Mapping the Innovation Conversation

Who’s leading the World of Innovation?

Failing To Succeed With Innovation

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