5 Industries Affected by Cloud Technology


Every day, cloud technology becomes more critical for businesses in a variety of industries. Even industries that have historically been reluctant to adopt cloud-based systems are becoming more open. Knowing and understanding cloud-based technology has opened the door to unprecedented innovation and machine learning, and has fostered what many experts consider to be a Fifth industrial revolution.

Which fields are feeling the most significant impact from cloud-related solutions? Five of the first include telecommunications, education, manufacturing, healthcare, and finance. Next, we will examine how the cloud has affected and changed each operation.

Industry # 1: Telecommunications

For years, telecommunications providers, especially Communications Service Providers (CSPs), took care of infrastructure and equipment. As such, the workers focused primarily on installing and maintaining hardware. However, this limited his ability to scale quickly.

SaaS Plume Experience Provider Research suggests that telcos investing in the cloud will be the CSP leaders of tomorrow. The reason is simple: They will be able to access a burgeoning smart home market with an estimated value of more than $ 300 billion by 2026.

By reducing their reliance on limited equipment and outdated physical frameworks, CSPs can move faster and solve customer problems. They can also extend their reach without the use of cables or wiring. Having to rely less on cables gives them a great advantage as they compete with each other and with alternative solutions such as the adoption of 5G.

Final thoughts: CSPs and other telcos are tied to low-tech infrastructure, tools, and equipment. By reducing their dependency on hardware, they can improve service and value to their customer base.

Industry # 2: Education

From preschools to universities, education was rocked during Covid. Forced to move lessons and learn online quickly, many public and private institutions adopted a cloud-first mindset. As a result, schools were able to continue educating students despite the closures caused by the pandemic.

Although 2020 was not the first year to see cloud adoption in education, it presented the perfect opportunity for facilities to test cloud systems. For example, many schools leaned toward using the best online learning management systems like Canvas, Schoology, and Moodle. As a result, teachers and students became more familiar with the possibilities inherent in education without geographical barriers.

In the future, educators and students appear poised to make e-learning via the cloud even more popular. According to Campus Technology, almost three-quarters of the university students surveyed favored virtual classes. Students who prefer to be virtual do not mean that physical lecture is going out of style, of course. However, the shift to cloud learning platforms gives people more freedom to improve and retrain.

Final thoughts: The issue of equity and access has plagued the education system in recent years. Cloud-based systems and options can create a more level playing field where all students and teachers can thrive.

Industry # 3: Manufacturing

Modern manufacturers are taking advantage of the cloud in significant ways. Although manufacturing has traditionally been viewed from a “nuts and bolts” perspective, advanced manufacturing is anything but old-fashioned. The largest and fastest growing vendors rely on cloud systems to accomplish a variety of tasks.

A good example of cloud technology in action occurs within the supply chain management process. Having a centralized cloud-based portal allows manufacturers to view all materials in the supply chain in real time. Consequently, they can anticipate delays and deficiencies, allowing them to avoid problems before they occur.

Cloud technology also eliminates the need to invest in the purchase, upgrade, and repair of servers and related equipment. Instead, manufacturers can spend money in other areas of their business. They can also give your customers access to vital information they need to know in their cloud systems.

Final thoughts: Manufacturing has become very competitive. Cloud-based systems allow startups and smaller manufacturers to compete on a global scale.

Industry # 4: Healthcare

It’s no secret that healthcare has been one of the slowest industries to adopt cloud computing. Honestly, healthcare has lagged behind in terms of technology. However, this is beginning to change as patients demand better and more access to their records. They are also clamoring for online wellness solutions such as virtual appointments and the ability to schedule appointments yourself.

Interestingly, some of the most prominent proponents of cloud-based technology in recent years have been the largest provider networks. Nationally recognized and honored hospitals and healthcare systems are exploring improving effectiveness and efficiency through the cloud. These include connected devices that make use of the Internet of Things (IoT).

Clearly, patient privacy remains a concern for all healthcare providers. But as The New York Times points out, data sharing can lead to exceptional results for all. As a result, many healthcare systems are working hard to figure out how to protect the interests of patients while collecting essential information.

Final thoughts: Wellbeing has been at the center since the emergence of Covid. Healthcare entities can improve their relationships with patients and their outcomes by using cloud technology to its fullest capacity. Provided that they have safety and security measures in place, healthcare institutions can offer consumers a variety of options.

Industry # 5: Finance

Banks. Mortgage Lenders. Credit unions. Credit card issuers. All have leaned on the cloud, especially as consumers have become more digital savvy. It is difficult to find a legitimate financial institution that does not offer some type of cloud-based portal and corresponding application.

In fact, the cloud has completely altered the face of finance and helped equalize access to money management. Customers no longer need to go to a bank during business hours. Instead, they can simply move their money, report problems, and even apply for loans 24 hours a day, seven days a week.

As healthcare providers, financial companies have been somewhat cautious about using the cloud. They have spearheaded measures to reduce the risk of costly and embarrassing data breaches. They have also brought with them some wonderful time-saving innovations that people have started to take for granted. For example, customers have no qualms about taking photos of their checks and submitting those images for instant deposit via cloud systems.

Final thoughts: Allowing customers to control their financial destinations through cloud platforms makes sense. It also helps financial institutions differentiate their offerings.

conclusion

In a relatively short period of time, the cloud has gained momentum in a wide swath of industries. It may even have ushered in another industrial age. Although it remains to be seen how far the cloud can take humanity, it has already made its mark in at least five major industries.

Image credit: eberhard grossgasteiger; pexels; Thank you!

Deanna ritchie

Deanna ritchie

Editor-in-chief at ReadWrite

Deanna is the managing editor for ReadWrite. Previously, she worked as the editor-in-chief of Startup Grind and has over 20 years of content management and content development experience.


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