{"id":36457,"date":"2023-08-03T04:31:53","date_gmt":"2023-08-03T04:31:53","guid":{"rendered":"https:\/\/vymo.com\/blog\/?p=36457"},"modified":"2023-11-16T09:25:37","modified_gmt":"2023-11-16T09:25:37","slug":"why-a-cloud-first-strategy-will-drive-the-bank-of-the-future","status":"publish","type":"post","link":"https:\/\/vymo.com\/blog\/why-a-cloud-first-strategy-will-drive-the-bank-of-the-future\/","title":{"rendered":"Why a cloud-first strategy will drive the Bank of the Future"},"content":{"rendered":"
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As emerging technologies like generative AI, Web3, and Metaverse become increasingly important, implementing a cloud-first strategy is essential and cannot be ignored.<\/span><\/i><\/p>\n

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Vymo hosted a roundtable with leading public sector banks (PSUs) leaders in Mumbai<\/b>. The conversation concerned charting robust cloud policies and the roadmap for PSUs in the coming decade.\u00a0\u00a0<\/span><\/p>\n

Vijayant Rai, Country Leader, BFSI, Microsoft India,<\/b> was the keynote speaker, and he pointed out that the opportunity for cloud adoption is not slowing down. Businesses have adapted the cloud to help them navigate supply and demand uncertainties of the pandemic and help them reimagine their business digitally.\u00a0AI adoption and investment is up and is being applied across every industry and use case to solve real-world challenges.<\/span><\/p>\n

Why Cloud?<\/span><\/h2>\n

The <\/span>latest forecast<\/span><\/a> by Gartner says that worldwide end-user spending on public cloud services is predicted to grow 21.7% \u00a0to a total of $597.3 billion in 2023, up from $491 billion in 2022. Back home in India, the numbers sound promising – <\/span>according to IDC<\/span>, the overall Indian public cloud services market<\/span><\/a> is expected to reach $17.8 billion by 2027, growing at a CAGR of 23.4% for 2022-27.<\/span><\/p>\n

Cloud infrastructure and tools today allow organizations to innovate and deploy products and strategies with a faster time-to-market<\/span><\/p>\n