Enterprises in the US, the UK, France, Germany, Australia and New Zealand can add up to USD 414 billion in net new profits, annually, through effective cloud adoption, according to a survey conducted by Bengaluru- headquartered Infosys.
The'Infosys Cloud Radar 2021' has revealed the links between enterprise cloud usage and business growth, the company said in a statement on Tuesday.
The survey was conducted by theInfosys Knowledge Institute(IKI), a research arm ofInfosys, with over 2,500 respondents from companies across the six regions.
The independent study covered a range of business performance goals related to cloud and found specific links to competencies such as speed to market and capabilities, it said.
A strong profit link was identified when using cloud to rapidly bring new solutions and services to market.
These investments provide a foundation to leverage artificial intelligence (AI) & automation and build cloud based new sources of revenue.
The study found specific links between business profit growth and the use of cloud to rapidly develop and launch new solutions and bring new functionality to market.
Cloud's ability to generate new value from data and discover new revenue sources also links to profit growth.
Specifically, these benefits are derived from business' ability to accelerate time to market, enhance business capabilities and build a competitive edge, the statement said.
Cloud-fueled profit boosts can be attained by companies in any region or industry.
However, they only kick in when businesses have at least 60 per cent of their systems in the cloud.
To benefit from AI on cloud, the bar is even higher.
Businesses must have at least 80 per cent of theirbusiness functions such as cross domain business applications in the cloud for AI to boost profit growth.
Infosys President Ravi Kumar S said: "Effectively leveraging cloud is a transformational pillar in digital journeys. Where early cloud was a tool for allowing companies to rapidly scale, modern cloud allows companies to rapidly innovate."