SINGAPORE, 19 November 2010 - A big shift is now under way in the technology landscape and it is powering new business models, according to Girija Pande, chairman of Tata Consultancy Services in the Asia Pacific.
Pande was the keynote speaker at the annual INET Conference dedicated to new media and technology, held on 18 November 2010 in Singapore's Hilton hotel.
The ways information technologies are deployed are changing as new developments such as cloud computing create new ways for individuals to consume goods and services, and for enterprises to dream up viable business models, said Pande.
The cloud development has created a wave of computing capabilities delivered as a service, including infrastructure, platform, applications and content. Likewise, vendors are competing with innovation and new business models to match the different needs of customers.
Pande reflected that until one year ago, cloud computing was just a wisp on the horizon. Now, it is rapidly growing, he said.
A social trend of sharing rather than owning has gained traction. From renting bags to cars, Pande said consumer choices are increasingly tilting towards renting/sharing rather than owning assets.
In the IT industry too, everything-as-a-service' concept is getting mainstream, exemplified by the growth in cloud computing, he added.
Consumer acceptance of Web-based cloud services for everything from e-mail to video is becoming universal and companies are following suit.
Pande cited a study from research firm Gartner that forecasts revenues for cloud computing to hit US$150 billion in 2013.
While the cloud technology holds much promise, it is close to the early market' stage of innovation, said Pande. There are many concerns around cloud computing such security and privacy as well as lack of interoperability and standards.
For cloud to completely become mainstream and its usage pervasive on a global basis, robust frameworks have to be created.
I believe there is opportunity in Asia to take the lead, said Pande. Singapore especially is eminently suited to take the lead in creating the solid foundation for the growth of the cloud computing industry.
The nation's well-regulated environment plus high-speed broadband networks spells many opportunities for the cloud industry.
We are living in interesting times, Pande concluded. Exponential rates of improvement of the current technology infrastructure are likely to continue indefinitely.
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