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On AI regulation, how the US steals a march over Europe amid the UKs showpiece Summit – The Indian Express

Over the last decade, Europe has taken a decisive lead over the US on tech regulation, with overarching laws safeguarding online privacy, curbing Big Tech dominance and protecting its citizens from harmful online content.

British Prime Minister Rishi Sunaks showpiece artificial intelligence event that kicked off in Bletchley Park on Wednesday sought to build on that lead, but the United States seems to have pulled one back, with Vice President Kamala Harris articulating Washingtons plan to take a decisive lead on global AI regulation, helped in large measure by an elaborate template that was unveiled just two days prior to the Summit. Harris then went on to elaborately flesh out the US plan for leadership in the AI regulation space before a handpicked audience, which included former British PM Theresa May, at the American Embassy in London, while she was there to attend Sunaks Summit.

The template for Harris guidance on tech regulation was the freshly released White House Executive Order on AI, which proposed new guardrails on the most advanced forms of the emerging tech where American companies dominate. And in contrast to the UK-led initiative, where the Bletchley Declaration signed by 28 signatories was the only major high-point, the US executive order is at the point of being offered as a well-calibrated template that could work as a blueprint for every other country looking to regulate AI, including the UK.

Harris was emphatic in her assertion that there was a moral, ethical, and societal duty to make sure that AI is adopted and advanced in a way that protects the public from potential harm and ensures that everyone is able to enjoy its benefits. And to address predictable threats, such as algorithmic discrimination, data privacy violations, and deep fakes, the US had last October released a Blueprint for an AI Bill of Rights seen as a building block for Mondays executive order.

After its Bill of Rights was released, Washington had extensive engagement with the leading AI companies, most of which are American (with the exception of London-based Deep Mind, which is now a Google subsidiary) in a bid to evolve a blueprint and to establish a minimum baseline of responsible AI practices.

We intend that the actions we are taking domestically will serve as a model for international action. Understanding that AI developed in one nation can impact the lives and livelihoods of billions of people around the world. Fundamentally it is our belief that technology with global impact requires global action, Harris said just before travelling to the United Kingdom for the summit on AI safety.

Let us be clear when it comes to AI, America is a global leader. It is American companies that lead the world in AI innovation. This is America that can catalyse global action and build global consensus in a way that no other country can. And under President Joe Biden, it is America that will continue to lead on AI, Harris said before the signing of Mondays executive order, clearly outlining Washingtons intent to take a lead on AI regulation just ahead of the UK-led safety summit.

This assumes significance, given that over the last quarter century, the US Congress has not managed to pass any major regulation to rein in Big Tech companies or safeguard internet consumers, with the exception of just two side legislations: one on child privacy and the other on blocking trafficking content on the net.

In contrast, the EU has enforced the landmark GDPR (General Data Protection Regulation) since May 2018 that is clearly focused on privacy and requires individuals to give explicit consent before their data can be processed and is now a template being used by over 100 countries, Then there are a pair of sub-legislations the Digital Services Act (DSA) and the Digital Markets Act (DMA) that take off from the GDPRs overarching focus on the individuals right over her data. The DSA focused on issues such as regulating hate speech, counterfeit goods etc. while the DMA has defined a new category of dominant gatekeeper platforms and is focused on non competitive practices and the abuse of dominance by these players.

On AI, though, the tables may clearly be turning. Washingtons executive order is a detailed blueprint aimed at safeguarding against threats posed by artificial intelligence and seeks to exert oversight over safety benchmarks that companies use to evaluate conversation bots such as ChatGPT and Google Bard. The move is being seen as a vital first step by the Biden administration in the process of regulating rapidly-advancing AI technology, which White House deputy chief of staff Bruce Reed had described as a batch of reforms that amounted to the strongest set of actions any government in the world has ever taken on AI safety, security, and trust.

EU lawmakers, on the other hand, are yet to reach an agreement on several issues related to its proposed AI legislation and the deal is reportedly not expected anytime before December.

The US executive order required AI companies to conduct tests of their newer products and share the results with the US federal government officials before the new capabilities were made available to consumers. These safety tests undertaken by developers, known as red teaming, are aimed at ensuring that new products do not pose a threat to users or the public at large. Under these new government powers, enabled under the US Defense Production Act, the federal government is empowered to subsequently force a developer to either tweak the product or abandon an initiative.

As part of the initiative, the United States will launch an AI safety institute to evaluate known and emerging risks of AI models: this move could be in parallel to an initiative by London to set up a United Kingdom Safety Institute, though Washington has subsequently indicated that the proposed US institute would establish a formal partnership with the UK Institute.

Among the standards set out in the US order, a new rule seeks to codify the use of watermarks that alert consumers when they encounter a product enabled by AI, which is aimed at potentially limiting the threat posed by content such as deepfakes. Another standard stipulates that biotech firms take appropriate precautions when using AI to create or modify biological material. Incidentally, the industry guidance has been prescribed more as suggestions rather than binding requirements, giving developers and firms enough elbow room to work around some of the government recommendations.

Also, the executive order explicitly directs American government agencies to implement changes in their use of AI, thereby creating industry best practices that Washington expects will be embraced by the private sector. The US Department of Energy and the Department of Homeland Security will, for instance, take steps to address the threat that AI poses for critical infra, the White House said in a statement.

Harris said the focus of the move, while aiming for the existential threats of generative AI being highlighted by experts, also resonated at an individual or citizen level.Additional threads that also demand our action threats that are currently causing harm and which too many people also feel existential. Consider for example, when a senior is kicked off his health care plan because of a faulty AI algorithm, is that not existential for him? When a woman is threatened by an abusive partner with explicit deep fake photographs, is that not existential for her? When a young father is wrongfully imprisoned because of biased AI, facial recognition, is that not existential for his family? And when people around the world cannot discern fact from fiction because of a flood of AI enabled myth and disinformation, I ask, is that not existential for democracy?

Varied Approaches

These developments come as policymakers across jurisdictions have stepped up regulatory scrutiny of generative AI tools, prompted by ChatGPTs explosive launch. The concerns being flagged fall into three broad heads: privacy, system bias and violation of intellectual property rights.

The policy response has been different too, across jurisdictions, with the European Union having taken a predictably tougher stance by proposing to bring in its new AI Act that segregates artificial intelligence as per use case scenarios, based broadly on the degree of invasiveness and risk; the UK is seen to be on the other end of the spectrum, with a decidedly light-touch approach that aims to foster, and not stifle, innovation in this nascent field.

The US approach now slots somewhere in between, with Washington now clearly setting the stage for defining an AI regulation rulebook with Mondays executive order. This clearly builds on the move by the White House Office of Science and Technology Policy last October to unveil its Blueprint for the AI Bill of Rights. China too has released its own set of measures to regulate AI.

This also comes in the wake of calls by tech leaders Elon Musk, Steve Wozniak (Apple co-founder) and over 15,000 others for a six-month pause in AI development in April this year, saying labs are in an out-of-control race to develop systems that no one can fully control. Musk was in attendance at Bletchley Park, where he warned that AI is one of the biggest threats to humanity and that the Summit was timely because AI posed an existential risk to humans, who face being outsmarted by machines for the first time.

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On AI regulation, how the US steals a march over Europe amid the UKs showpiece Summit - The Indian Express

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UK government shelves the Mental Health Bill – Mind

The Kings Speech provides the UK government with an opportunity to highlight its upcoming priorities. It forms part of the State Opening of Parliament ceremony, which marks the start of the next parliamentary year.

Despite reforms to the Mental Health Act being a key Conservative manifesto commitment in both 2017 and 2019, the UK government has failed to include the Mental Health Bill in todays Kings Speech. The plans to reform the Mental Health Act 1983, which is the main piece of law setting out when you can be detained for treatment against your will, have broad cross-party support and featured in all of the main party manifestos in 2019.

The road to reform began in 2018 with an independent review of the Act, which was followed by a White paper in 2021 and a final parliamentary joint committee report earlier this year. Its lack of inclusion today means the legislation will not be passed before the next General Election.

The long overdue Mental Health Bill is a chance to overhaul the way the system works when people are in a mental health crisis. It is an opportunity to address the deep racial injustices in the use of the Act, with Black people being four times more likely to be detained. It is also a crucial chance to prevent people being stripped of their dignity, voice and independence when they are sectioned. That chance has now been missed, and the UK government has broken its promise to thousands of people, their loved ones and the nation as a whole to reform the Act.

This is further evidence of how little regard the current UK government has for mental health. More than 50,000 people were held under the Mental Health Act last year, so it is incomprehensible that legislation which would help people at their most unwell has been de-prioritised. There could not be a worse time to abandon this bill, especially given the recent string of exposs revealing unsafe mental health care across the country.

People with mental health problems, countless professionals and other experts poured huge amounts of time, effort and resource into reforming this legislation to make it fit for the 21st century. Their voices are being ignored.

People with mental health problems deserve better than lip service from the politicians who are supposed to represent them at the highest levels of power. Today is a huge blow for our community, but we will continue to fight to raise the standard of mental healthcare. We wont give up until everyone with a mental health problem gets the support and respect they deserve.

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EU investors including Bosch, SAP pump $500 million into … – The Stack

Germanys Aleph Alpha has raised over $500 million in a Series B round backed by Bosch and SAP among other new investors, as the startup looks to build on its promise to be the leading provider of sovereign generative AI applications in Europe, taking on OpenAI and the hyperscalers.

Aleph Alpha, founded by former Apple AI researcher Jonas Andrulis, has created the Luminous series of large language models (it has promised a 300 billion parameter Luminous World model later this year) which are commercially available for customers now, via a Python client.

Working with partner Graphcore, it has demonstrated some impressive AI compute efficiency progress as well as capabilities with a privacy and explainability focus (see for example its Atman paper of earlier in 2023.)

The Series B funding, it said in a press release on Monday, strengthens the foundation for Aleph Alpha to further advance its proprietary AI research, accelerate development and commercialization of Generative AI for the most complex and critical applications such as in data sensitive industries like healthcare, finance, law, government and security.

At a press conference on Monday, Germanys Minister for Economic Affairs Robert Habeck suggested that the investment played to Europes strategic national priority as work continues to boost its data sovereignty.

The thought of having our own sovereignty in the AI sector is extremely important. If Europe has the best regulation but no European companies, we havent won much Habeck said at the press conference.

Aleph Alpha will continue to expand its offerings while maintaining independence and flexibility for customers in infrastructure, cloud compatibility, on-premise support and hybrid setups said CEO Andrulis.

The ongoing developments will extend interfaces and customization options tailored to business-critical requirements he added in a release.

The massive funding round came as researchers at Google DeepMind suggested in a widely shared paper that the transformer models powering so much of the past years AI hype were not as intelligent, perhaps, as many seem to believe: When presented with tasks or functions which are out-of-domain of their pretraining data, we demonstrate various failure modes of transformers and degradation of their generalization for even simple extrapolation tasks they wrote in a paper on November 3.

Together our results highlight that the impressive ICL [in-context learning] abilities of high-capacity sequence models may be more closely tied to the coverage of their pretraining data mixtures than inductive biases that create fundamental generalization capabilities.

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‘We compete with everybody’: French AI start-up Mistral takes on … – Financial Times

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'We compete with everybody': French AI start-up Mistral takes on ... - Financial Times

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A Third Way on AI – Mozilla & Firefox

Last week was an important moment in the debate about AI, with President Biden issuing an executive order and the UKs AI Safety Summit convening world leaders.

Much of the buzz around these events made it sound like AI presents us with a binary choice: unbridled optimism, or existential fear. But there was also a third path available, a nuanced, practical perspective that examines the real risks and benefits of AI.

There have been people promoting this third perspective for years although GPT-fueled headlines of the past 12 months have often looked past them. They are foundations, think tanks, researchers and activists (including a number of Mozilla fellows and founders) plus the policymakers behind efforts like last years AI Blueprint for an AII Bill of Rights.

We were happy to see the executive order echo many of the ideas that have emerged from this school of thought over the last few years, prioritizing practical, responsible AI governance. The UK Safety Summit started on a very different note, anchored in concerns around existential risks but also some welcome reframing.

As we look forward from this point, it feels important to highlight three key levers that will help us get closer to responsible AI governance: well-designed regulation, open markets, and open source. Some of these were in the news last week, while others require more attention. Together, they have the potential to help us shape AI in ways that are more trustworthy, empowering and equitable.

Regulation

As we saw last week, there is near consensus that AI presents risks and harms, from the immediate (from discrimination to disinformation) to the longer term (which are still emerging and being explored). Theres also a growing consensus that regulation is a part of the solution.

But what exactly this regulation looks like and what its outcomes should be is where consensus breaks down. One thing is clear, though: Any regulatory framework should protect people from harm and provide mechanisms to hold companies accountable where they cause it.

The executive order included encouraging elements, balancing the need for a rights-respecting approach to addressing AIs present risks with exploration of longer-term, more speculative risks. It also acknowledges that the U.S. is still missing critical baseline protections, such as comprehensive privacy legislation that work hand-in-hand with AI-specific rules.

The ideas that dominated the Safety Summit were less encouraging. They reinforced that old binary, either going too far or not far enough. There was a focus on self regulation by AI companies (which isnt really governance at all). And there were nods towards the idea of licensing large language models (which would only increase concentration and may worsen AI risks, in the words of Sayash Kapoor and Arvind Narayanan).

Open markets

To Arvind and Sayashs point, there is a problematic concentration of power in the tech industry. Decisions about AI, like who it most benefits or who is even allowed to access it, are made by a handful of people in just a few corners of the world. The majority of people impacted by this technology dont get to shape it in any meaningful way.

Competition is an antidote. AI development not just by big companies, but also smaller ones (and nonprofits, too) has the potential to decentralize power. And government action to hinder monopolies and anti-competitive practices can accelerate this. The executive order takes note, calling on the Federal Trade Commission (FTC) to promote competition and protect small businesses and entrepreneurs.

Its important for this work to start now both by enforcing existing competition law, but also by greater adoption of ex-ante interventions like the UKs DMCC bill. The previous decade showed how quickly incumbent players, like social media platforms, acquire or shut down competitors. And its already happening again: Anthropic and OpenAI have familiar investors (Google + Amazon and Microsoft, respectively), and once-independent laboratories like DeepMind were long ago acquired (by Google).

Open source

For smaller AI players to thrive in the marketplace, the core building blocks of the technology need to be broadly accessible. This has been a key lever in the past open-source technology allowed a diverse set of companies, like Linux and Firefox, to compete and thrive in the early days of the web.

Open source has a chance to play a role in fueling competition in AI and, more specifically, large language models. This is something organizations like Ai2, EleutherAI, Mistral, and Mozilla.ai are focused on. Open source AI also has the potential to strengthen AI oversight, allowing governments and public interest groups to scrutinize the technology and call out bias, security flaws, and other issues. Weve already seen open source catch critical bugs in tooling used for core AI development. While open source isnt a panacea and it can be twisted to further consolidate power if its not done right it has huge potential in helping more people participate in and shape the next era of AI.

Its important to note that there is a major threat to open source AI emerging: some use the fear of existential risk to propose approaches that would shut down open-source AI. Yes, bad actors could abuse open source AI models but internet history shows that proprietary technologies are just as likely to be abused. Rushing to shut down open source AI in response to speculative fears, rather than exploring new approaches focused on responsible release, could unnecessarily foreclose our ability to tap into the potential of these technologies.

Collaboratively dealing with global problems is not a new idea in technology. In fact there are many lessons to learn from previous efforts from how we dealt with cybersecurity issues like encryption, governed the internet across borders, and worked to counter content moderation challenges like disinformation. What we need to do is take the time to develop a nuanced approach to open source and AI. We are happy to see the EUs upcoming AI Act exploring these questions, and the recent U.S. executive order instructing the Department of Commerce to collect input on both the risks and benefits of dual-use foundation models with widely accessible weights in essence, open-source foundation models. This creates a process to develop the kind of nuanced, well-informed approaches we need.

Which was exactly the goal of the letter on open source and AI safety that we both signed last week along with over 1,500 others. It was a public acknowledgement that open source and open science are neither a silver bullet nor a danger. They are tools that can be used to better understand risks, bolster accountability, and fuel competition. It also acknowledged that positioning tight and proprietary control of foundational AI models as the only path to safety is naive, and maybe even dangerous.

The letter was just that a letter. But we hope its part of something bigger. Many of us have been calling for AI governance that balances real risks and benefits for years. The signers of the letter include a good collection of these voices and many new ones, often coming from surprising places. The community of people ready to roll up their sleeves to tackle the thorny problems of AI governance (even alongside people they usually disagree with) is growing. This is exactly what we need at this juncture. There is much work ahead.

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European Commission loves Oracle enough to sign six-year cloud deal – The Register

Oracle has signed a deal with the European Commission to provide Oracle Cloud Infrastructure (OCI) and its platform services across EU administrations.

The Commission selected OCI following a competitive procurement procedure, although Big Red has not disclosed the winning bid, The Reg understands is valued at 15.75 million ($16.73 million).

The six-year agreement is set to make OCI available to "dozens" of institutions run on behalf of the world's largest trading bloc. The contract would offer institutions access to more than 100 OCI services, the database giant said in a statement.

Oracle said the deal is intended to allow EU institutions and bodies to meet compliance, data governance, and regulatory mandates with "less risk and cost."

It is not alone in providing the European Commission with cloud services. The EU body operates a multi-cloud strategy and continues to work on a swift adoption of the European Cybersecurity Certification Scheme for Cloud Services (EUCS).

"The lack of trust in cloud technologies remains a barrier to a well-functioning data economy. EUCS will introduce a harmonized set of security requirements and conformity assessment methodologies so that cloud consumers can make informed decisions. Having a harmonized set of cybersecurity requirements across Europe will promote trust in cloud services, thus fostering the uptake of cloud technologies," Oracle said in a statement.

In 2020, AWS signed a deal with the European Commission for 54 million. Acquisition of cloud services in the field of multi-tenant Infrastructure as a service (IaaS) and platform as a Service (PaaS), was set to last four years, according to an earlier tender notice. The total value of the Cloud II framework, from which AWS was selected, was set to be 417.7 million. The EC also uses tech services from OVHcloud.

Oracle claimed that more than 1,000 public sector organizations in the UK, Netherlands, Austria, and US use Oracle Cloud Infrastructure.

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Global Cloud Computing Market Expected to Reach $1,554.94 Billion by 2030, Driven by Adoption of Cloud-Native Applications and Advanced Technologies -…

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Global Cloud Computing Market

Global Cloud Computing Market

Dublin, Nov. 03, 2023 (GLOBE NEWSWIRE) -- The "Cloud Computing Market Size, Share & Trends Analysis Report By Service (SaaS, IaaS), By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global cloud computing market is poised for substantial growth, with an anticipated size of USD 1,554.94 billion by 2030, projecting a robust CAGR of 14.1% from 2023 to 2030.

Key factors driving this growth include the increasing adoption of cloud-native applications in various sectors, such as banking and supply chain automation. Cloud solutions enable businesses to swiftly develop, manage, and deploy web applications, enhancing operational efficiency. For example, in June 2023, First Abu Dhabi Bank (FAB) partnered with International Business Machines Corporation (IBM) to migrate applications to the cloud, optimizing their technology infrastructure and enhancing the digital experience for customers.

The market is also witnessing a surge in the adoption of cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), and 5G, driving rapid implementation within business applications. Cloud computing facilitates efficient storage, access, and management of critical data, aligning with the increasing demand for cloud services.

Notably, machine learning, edge computing, and personalization have become significant trends globally. The cloud reduces technological barriers, making it easier to perform complex computations needed for personalization. In March 2023, NVIDIA Corporation introduced cloud services for businesses to refine, operate, and build custom large language and generative AI models, benefiting companies like Morningstar, Inc., Getty Images Holdings, Inc., Shutterstock, and Quantiphi.

Market vendors are actively launching new cloud solutions, services, and workloads while enhancing existing capabilities to bolster their market position. Many prominent players are expanding into new regions by establishing data centers and driving digital transformation. For example, in June 2023, Microsoft Corporation unveiled its first Italian cloud region with three data centers in the Lombardy region, offering scalable, resilient, and available cloud services to support Italy's digital transition.

Story continues

Companies Mentioned

Key Market Highlights:

Infrastructure as a Service (IaaS): The IaaS segment is expected to exhibit the highest CAGR from 2023 to 2030 due to growing adoption driven by the need to simplify IT complexities, find skilled IT professionals, and reduce data center deployment costs.

Small and Medium-sized Businesses (SMEs): SMEs are projected to experience the highest growth rate, benefiting from affordable IT software and hardware, increased processing power, storage elasticity, and improved data and service accessibility.

Hybrid Deployment: The hybrid deployment segment is anticipated to grow rapidly, as industries adopt hybrid models to optimize costs, enhance application development, operational efficiency, and user experiences. The rise of edge computing is expected to further boost demand for hybrid clouds.

Manufacturing End-use: The manufacturing sector is expected to register the highest growth rate from 2023 to 2030, driven by advantages such as seamless data management and real-time visibility. Increased adoption of cloud services for data storage, supply chain management, and resource organization is fueling growth in this segment.

Asia Pacific: The Asia Pacific region is set to experience the fastest market growth, with SMEs and large enterprises focusing on digital transformation.

Key Attributes:

Report Attribute

Details

No. of Pages

130

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$483.98 Billion

Forecasted Market Value (USD) by 2030

$1554.94 Billion

Compound Annual Growth Rate

14.1%

Regions Covered

Global

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Cloud Computing Market: Industry Outlook3.1 Market Lineage Outlook3.2 Cloud Computing Market - Value Chain Analysis3.3 Cloud Computing Market Dynamics3.3.1 Market Driver Analysis3.3.1.1 Increased resource, user mobility, and ongoing migration of applications over the cloud3.3.1.2 Increasing adoption of technologies such as artificial intelligence, machine learning, 5G, and IoT3.3.2 Market Challenge Analysis3.3.2.1 Data security and data privacy3.4 Market Analysis Tools3.4.1 Cloud computing market - Porter's five forces analysis3.4.2 Cloud computing market - PESTEL analysis

Chapter 4 Cloud Computing Market: Service Segment Analysis

Chapter 5 Cloud Computing Market: Deployment Segment Analysis

Chapter 6 Cloud Computing Market: Enterprise Size Segment Analysis

Chapter 7 Cloud Computing Market: End-Use Segment Analysis

Chapter 8 Cloud Computing Market: Region Segment Analysis

Chapter 9 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/eygdmc

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Cloud Computing Market Worth $1,402.7 Billion by 2030 – Exclusive … – Digital Journal

PRESS RELEASE

Published November 2, 2023

According to a new market research report titled,Cloud Computing Marketby Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), Deployment Mode, Organization Size, End User (BFSI, Retail, and Healthcare), and Geography - Global Forecast to 2030, the global cloud computing market is projected to reach $1,402.7 billion by 2030, at a CAGR of 16.8% from 2023 to 2030.

Cloud computing is the delivery of different services through the internet, including data storage, servers, databases, networking, and software. Cloud storage has grown increasingly popular among individuals who need larger storage space and businesses seeking an efficient off-site data backup solution. Cloud computing is gaining traction due to its increased implementation by different enterprises for notable benefits, such as cost savings, increased productivity, speed and efficiency, performance, and security.

Several industries and organizations, including government, BFSI, retail, and healthcare, are deploying this technology on a considerable scale. The key factors driving the growth of the cloud computing market are the increase in adoption of cloud computing services, personalized customer experience, rising demand for AI, and increasing adoption of technologies such as ML and IoT. However, data security & privacy concerns may restrain the markets growth.

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The rising government initiatives and consistently rising adoption of cloud computing solutions among businesses are expected to offer significant growth opportunities for the cloud computing market. Furthermore, the high complexity due to the adoption of the multi-cloud model is expected to pose challenges to the growth of the cloud computing market. The latest trends in the global cloud computing market are cloud gaming and serverless computing

Impact of COVID-19 on the Cloud Computing Market

The COVID-19 pandemic adversely impacted the global economy. Nationwide lockdowns and social distancing norms were imposed across several countries. These negatively affected multiple industries, including the cloud computing industry. Uncertainty regarding the duration of the lockdowns made it difficult for the key market players to anticipate the recovery of the cloud computing market.

Numerous cloud computing providers were under immense pressure due to the COVID-19 pandemic. However, economies are shifting their focus from responding to the pandemic to economic recovery. Various growth opportunities are expected to emerge for the cloud computing market players due to the consistently rising adoption of cloud computing solutions among businesses.

However, several businesses are exerting extensively to move thecloud computingmarket in the right direction. Local governments are also undertaking several relief steps to mitigate the negative impacts of the COVID-19 pandemic. As a result, thecloud computingmarket is expected to recover to its original track after 2023.

The global cloud computing market is segmented by service model (infrastructure as a service, platform as a service, and software as a service), deployment mode (public cloud, private cloud, and hybrid cloud), organization size (large enterprises, small & medium enterprises), end user (BFSI, healthcare, IT and telecom, government & public sector, retail, manufacturing, energy & utilities, media & entertainment, and other end users). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on service model, in 2023, the software as a services segment is estimated to account for the largest share of the global cloud computing market. The large market share of this segment is attributed to the rising adoption of cloud computing services, increasing preferences for SaaS delivery models, and growing demand for AI. Additionally, this segment is projected to register the highest CAGR during the forecast period.

Based on deployment mode, in 2023, the public cloud segment is estimated to account for the largest share of the global cloud computing market. The large market share of this segment is attributed to the growing reliance on public cloud services among SMEs for effective management and the rising shift of businesses towards work-from-home culture. In addition, the benefits offered by public cloud, such as cost efficiency, agility, and flexibility, further augment the growth of this segment. However, the hybrid cloud segment is projected to register the highest CAGR during the forecast period. The growing demand for agile and scalable computing and the rising need for computational power are expected to support this segment's growth.

Based on organization sizethe global cloud computing market is segmented into large enterprises and small & medium enterprises. In 2023, the large enterprise segment is estimated to account for the largest share of the global cloud computing market. The large market share of this segment is attributed to the high spending capabilities of large enterprises and the availability of skilled IT personnel for the management of cloud platforms. However, the small & medium enterprises segment is slated to register the higher CAGR during the forecast period.

Based on geography,the global cloud computing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is estimated to account for the largest share of the global cloud computing market. North Americas major market share is attributed to the presence of leading cloud computing providers and their increasing focus on developing advanced cloud computing technology and increasing government funding for further advancements.

However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The infrastructural growth in APAC, especially in China, South Korea, Australia, Singapore, Japan, the rapid growth rate of developing economies, rapidly developing data centers, and the growing awareness about the importance of cloud computing among small and medium-sized organizations create huge opportunities for the cloud computing market.

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Some of the key players operating in the global cloud computing market are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), SAP SE (Germany), Google LLC (U.S.), Salesforce, Inc. (U.S.), Workday, Inc. (U.S.), Alibaba Group Holding Limited (China), VMware, Inc. (U.S.), DXC Technology (U.S.), Nutanix, Inc. (U.S.), Cisco Systems, Inc. (U.S.), ZYMR, INC. (U.S.), and SAS Institute, Inc. (U.S.).

Scope of the Report:

Cloud ComputingMarket, by Service Model

Cloud Computing Market, by Deployment Mode

Cloud Computing Market, by Organization Size

Cloud Computing Market, by End User

Cloud ComputingMarket, by Geography

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Cloud computing market size to grow by USD 429.6 billion from 2022 to 2027, vendor lock-in and operational complexities is expected to hinder the…

NEW YORK, Nov. 2, 2023 /PRNewswire/ -- The cloud computing market size is expected to grow by USD 429.6 billion from 2022 to 2027. The growth momentum of the market will accelerate at a CAGR of 17.32% during the forecast period. Factors such as vendor lock-in and operational complexities will challenge market growth. Vendor lock-in occurs when a customer cannot transition easily to another vendor's product or service. This makes it difficult to switch to a public cloud service provider from a private cloud platform. Moreover, each vendor may support different languages, libraries, APIs, architecture, or OS. The process of switching can be time-consuming, labor-intensive, and expensive. It may even result in rebuilding or altering an application to fit the new platform. Thus, vendor lock-in can hinder the growth of the global private cloud services market during the forecast period.For more insights on the historic (2017 to 2021) and forecast market size (2023to 2027)Download our sample report!

Technavio has announced its latest market research report titled Global Cloud Computing Market

Key market challenges

The increased use of containers will boost the adoption of the cloud, which will drive the cloud computing market growth. Containers and microservices are alternative solutions to virtual machines (VMs). Containers are lighter than VMs and can package applications and all OS dependencies in a single package. They provide a high level of visibility toward application performance. Moreover, container and microservice architectures allow rapid scaling. These factors will drive the market's growth during the forecast period.

Few companies mentioned with their offerings

Adobe Inc. - The company offers Creative Cloud service with apps, web services, and resources.

Alibaba Group Holding Ltd. -The company offers multi-model cloud-native databases and distributed cloud services.

Alphabet Inc. - The company offers a wide range of cloud computing services.

Amazon.com Inc. - The company offers a wide range of cloud computing services.

Cisco Systems Inc. -The company offers cloud-neutral solutions and full-stack observability with its cloud

To gain access to more vendor profiles with their key offerings available with Technavio, download a sample report.

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Market segmentation

The cloud computing market report is segmented by deployment (public cloud and private cloud), service (SaaS, IaaS, and PaaS), and geography (North America, APAC, Europe, South America, and Middle East and Africa).North Americawill be the leading region with 50% of the market's growth during the forecast period. The US and Canada are the key markets for cloud computing inNorth America.

For additional insights into the contribution of all the segments and regional opportunities, historic (2017 to 2021) and forecast market size (2023 to 2027) - Download our sample report

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Table of contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation by Deployment7 Market Segmentation by Service8 Customer Landscape9 Geographic Landscape10 Drivers, Challenges, and Trends11 Company Landscape12 Company Analysis13 Appendix

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Global Cloud Computing Market

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From Electronics to Cloud Computing: The Forces Shaping the Future of Industrial Software – Yahoo Finance

DUBLIN, Nov. 2, 2023 /PRNewswire/ -- The"Global Industrial Software Market (by Platform, End User, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.

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The global industrial software market is poised for substantial growth, with an anticipated value of $110.50 billion by 2023, displaying a robust Compound Annual Growth Rate (CAGR) of 9.25% during the forecast period.

Understanding Industrial Software

Industrial software refers to a collection of application programs, processes, procedures, and functionalities designed to facilitate large-scale data collection, transformation, and management. It finds applications across diverse industries such as manufacturing, construction, design, healthcare, textiles, chemicals, food processing, and more. Industrial software plays a crucial role in digitizing real-world work data for analysis, ensuring the preservation of a non-physical record immune to destruction, loss, or theft.

Segmentation

By Platform: The global industrial software market is categorized into two primary platforms: On-Premise and Cloud. The cloud platform segment is projected to experience the highest growth rate during the forecast period. Cloud-based industrial software offers immediacy, efficiency, resource planning optimization, scalability, and accessibility. It also features benefits like quicker implementation and lower upfront costs, contributing significantly to the segment's growth.

By End User: The market is segmented into eight key end users: BFSI (Banking, Financial Services, and Insurance), IT & Telecom, Manufacturing, Government, Healthcare, Retail, Aerospace & Defense, and Others. The BFSI sector leads the industrial software market due to the expanding adoption of software solutions for transaction tracking, accurate portfolio reporting, and digital banking. The user-friendly interface of these software solutions, featuring various charts, analytics, and data blocks, has contributed to their growth. Factors such as easy data access, digital banking, and the rise of fintech startups further drive the growth of the BFSI software market.

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Geographic Coverage

The global industrial software market is divided into four regions: North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America holds the largest share of the global market, driven by factors like the increasing adoption of industrial software by small and medium-sized businesses, investments in cutting-edge technology-driven software development, and a substantial presence of market players. Access to software functionalities through smartphone applications is also expected to contribute to market growth.

The Asia Pacific market is set to expand significantly, driven by a thriving manufacturing sector and the growth of small and medium enterprises. The market is expected to benefit from the increasing adoption of on-premises industrial software solutions by businesses looking to enhance productivity and performance. Government support for IT infrastructure implementation is another factor expected to boost demand for industrial software.

Top Impacting Factors

Growth Drivers

Growing Electronics Industry

Surging Adoption of Industrial Cloud Computing Technology

Rapid Installations of Industrial Robots

Rising Adoption of Digital Transformation

Challenges

Trends

Integration of Artificial Intelligence (AI) with Industrial Software

Increasing Adoption of Industrial Internet of Things (IIoT)

Increasing Industrial Spending on R&D

Growing Adoption of Automation in Raw Material Industries

Key Drivers

Growing Electronics Industry: The electrical and electronics industry's continuous need for innovation, cost reduction, and process acceleration has led to the adoption of specialized industrial software. These software solutions enable lean manufacturing, component manufacturing, and service providers in the electronics industry to improve their processes, reduce time-to-market, and enhance product quality.

Challenges

High Initial Capital Investment: While industrial software integration offers automation and cost-effectiveness, the significant initial capital required for technology implementation and employee training poses a challenge. Uncertainty regarding return on investment (ROI) discourages small and medium-sized enterprises (SMEs) from adopting technology due to high upfront costs.

Trends

Integration of Artificial Intelligence (AI) with Industrial Software: Big data and AI play a pivotal role in Industry 4.0, offering intelligent software solutions that use extensive factory data to identify trends, optimize manufacturing processes, and reduce energy consumption. AI-driven software can adapt to changing circumstances and discover complex connections within systems, supporting continuous improvement and optimization.

Impact of COVID-19

The COVID-19 pandemic affected the industrial software market, with government-mandated closures and travel restrictions impacting manufacturing and related industries. The initial phase saw a decline in demand for industrial software due to temporary closures of end-use industries. However, the post-pandemic outlook for the market is optimistic, with the adoption of smart factory automation, driven by the Industrial Internet of Things (IIoT) and Industry 4.0, expected to fuel growth.

Analysis of Key Players

The global industrial software market exhibits moderate fragmentation, with high-growth segments including cloud infrastructure and services, cybersecurity, and data analytics. Key players in the market include:

Microsoft Corporation

Siemens AG (Siemens Digital Industries Software)

IBM Corporation

Oracle Corporation

Salesforce Inc.

ABB Group

Honeywell International Inc.

Dassault Systemes SE

Amazon.Com, Inc. (Amazon Web Services, Inc.)

Cadence Design Systems, Inc.

Synopsys Inc.

SAP

For more information about this report visit https://www.researchandmarkets.com/r/rvhn0j

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SOURCE Research and Markets

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From Electronics to Cloud Computing: The Forces Shaping the Future of Industrial Software - Yahoo Finance

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