Two-thirds of global executives report cloud has returned positive ROI over last two years, says MIT Technology Review Insights report with Infosys Cobalt

Rhea-AI Summary

Infosys (INFY) and MIT Technology Review Insights release the '2023 Global Cloud Ecosystem' report, highlighting the impact of cloud capabilities on global digital transformation, including sustainability, AI, and cybersecurity. The report reveals that 54% of organizations use cloud tools for ESG compliance, but there is room for improvement in addressing carbon emissions. Cloud deployments drive cost-efficiency, with 82% tracking positive ROI. Data governance and cybersecurity concerns remain, but the zero-trust paradigm gains acceptance. Cloud is also leveraged for diversity, equity, and inclusion compliance.

Positive

• Cloud deployments drive cost-efficiency, with 82% tracking positive ROI.
• Cloud tools are used for ESG compliance and diversity, equity, and inclusion compliance.
• The report provides valuable insights into the impact of cloud capabilities on global digital transformation.

Negative

• Perceptions of national data sovereignty and privacy frameworks vary, underscoring the lack of global standards.

54% of organizations using cloud for ESG compliance to drive sustainability, significant room for improvement in leveraging cloud to address scope 1, scope 2, and scope 3 carbon emissions

BENGALURU, India and CAMBRIDGE, Mass., Nov. 16, 2023 /PRNewswire/ -- 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 the space, but more than two-thirds say they keep pace.

All in for zero-trust. Public and hybrid cloud assets raise cybersecurity concerns. But 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 cloud," says Anant Adya, Executive Vice President and Service Offering Head, 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." 

View the 2023 Global Cloud Ecosystem research findings - click here to download the report.

To learn more about the cloud, visit The cloud hub: From cloud chaos to clarity.

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. And 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.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, or our future financial or operating performance are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, our ability to attract and retain personnel, our transition to hybrid work model, economic uncertainties, technological innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, and our corporate actions including acquisitions. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2023. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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FAQ

How are organizations leveraging cloud for sustainability?

54% of organizations are using cloud tools for ESG reporting and compliance, and 51% are using cloud to enhance diversity, equity, and inclusion compliance.

What are the key concerns related to cloud deployments?

Data governance and cybersecurity concerns remain, but the zero-trust user paradigm has gained wide acceptance across industries.

What is the impact of cloud on global digital transformation?

The report highlights the impact of cloud capabilities on sustainability, AI, cybersecurity, and cost-efficiency, providing valuable insights for technology decision-makers.