Cloud still investment priority, says TCS study

Despite current macro headwinds and short-term return on investment concerns, cloud is still a long term investment priority for 70% of major enterprises, revealed a survey by Tata Consultancy Services (TCS).

The survey was of 972 senior executives of enterprises across the globe whose annual revenue exceeds $1 billion. Named ‘Connected Future: How Cloud Drives Business Innovation’, the survey also revealed that 75% of respondents invested in artificial intelligence (AI) and machine learning capabilities over the past two years and 78% plan to do so over the coming 12-24 months.

AI and machine learning are heavily dependent on access to large amounts of data and scalability through cloud.