Upcoming Report Highlight
Artificial intelligence, cloud computing, blockchain and quantum computing are some of the pillars that form the “Fourth Industrial Revolution”. Cloud is an enabler of digital disruption and can offer firms flexible delivery, better data integration, operational cost savings, scalability, and business resilience. While cloud has traditionally been viewed as a tool to reduce infrastructure costs, firms are now applying cloud services in a more tactical way. Cloud has been a focus area for wealth managers for a long time and a thoughtfully designed Cloud Adoption Framework (CAF) can drive these benefits home. The COVID-19 pandemic and the growing demand for digital services by relationship managers and clients have served as a catalyst for the acceleration of cloud adoption among wealth managers.
My upcoming report, COVID-19, the Impetus and Transference to Cloud: Finding the Right Cloud Model will be published this month. The objectives of this report are to:
Address the cloud computing market and demand for cloud services.
Examine the trends, challenges, and impact of COVID-19 on cloud adoption.
Review deployment approaches available to wealth managers.
Assist wealth managers in understanding the differences between various cloud models.
Provide recommendations to wealth managers.
The report was constructed using input from leading cloud providers using a wealth management lens via a Celent-conducted survey. The report is based off of Celent’s insurance report: Cloud Strategy in Insurance: Finding the Right Cloud Model.
In researching the topic, some of my findings include:
The acceleration of cloud adoption due to the COVID-19 pandemic.
The ascendency among wealth managers towards a multi and hybrid cloud model.
The major role of hyperscalers in determining cloud capabilities.
A restructuring of cost models.