Cloud computing discussed at Davos

27 Jan 2011

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Cloud computing was debated at the World Economic Forum at Davos this morning, a strong ratification of its growing importance to the future of the global economy.

Cloud  computing is being heralded as the third industrial revolution, with technology companies reporting some strong performance mainly attributed to cloud computing.

Intel, Apple and IBM, have acknowledge the contribution of cloud computing to their strong profits.

Microsoft is expected to report a strong set of figures following a hefty million-dollar investment in Cloud computing.  Cloud will be its major focus for the next few years and it expects 90 per cent of its resources to be focussed on this technology.

In a recent report, The Centre of Economics and Business Research (CEBR) says that widespread adoption of cloud computing could give the top five EU economies a 76-bn euro boost over five years and create 2.4m jobs. 

The findings are backed up by analysts such as Gartner which predicts that by 2012, 20 per cent of companies will not own their own IT assets.

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