Cloud computing has already changed the face of IT almost beyond recognition. According to a recent Sydney Morning Herald report, the IT architecture is likely to affect serious change in global markets as well.
While some changes, such as increased flexibility and scalability, have been widely predicted, others are less reported. Cloud computing security, for example, is often cited as a weakness of the platform. According to the report, however, it may actually be an advantage.
Mike Nelson, a professor and researcher of the internet at Georgetown University and former adviser to President Obama, told the SMH cloud computing is likely to improve internet security for users and businesses.
Nelson described the growth of cloud computing as "the next stage of globalization." The cloud, he said, is as important as the popularization of the world wide web.
"It is not just a fad," he said. "It is not going to affect 5 to 10 percent of companies. This is changing the whole game."
According to Nelson, a key feature of the cloud is that it removes barriers to entry into fields that require serious technological resources. This, he said, makes it a "game-changer" for global markets.
"Little companies can enter the market and play against the big players and other small players," Nelson explained. "These companies will be based all around the world."
Nelson also claimed that cloud computing could help to reduce incidents of identity theft and credit card fraud. This, he said, is because large companies' security measures are as vulnerable as their least competent IT managers.
By outsourcing data and applications to the cloud, a company can leverage the expertise of the best engineers in the world to ensure their data is secure.
While the cloud certainly has it benefits, there are risks involved in deploying cloud-based solutions. According to a recent Kelton Research study, "cloud sprawl" is one pitfall that companies should work to avoid.