In this digital world, the rise of the internet brings a lot of advanced and innovative technologies to people, which helps for the exponential growth of the digital revolution all over the world. Technology plays a vital role for humans and frames their lifestyles to survive in this advanced society.So, Some of the growing and enhancing technologies are AI, IoT, cloud computing, social media marketing, blockchain, cybersecurity, and advanced robotics. Today, technology is increasing rapidly and expanding in every field, and its impact on the world also increasing effectively (Ritchie, 2023) .
Impact of Technology in Every field
Emerging technologies like IoT and cloud computing provide advanced development in HR processes, increase the efficiency of work, reduce complexities, and suggest a sustainable digital workplace to monitor employees. (Parry & Battisa, 2019). So,Technologies offer new opportunities for the jobseeker’s and acquired skills for a smooth process of ongoing employment. It creates an advanced way to communicate and interact with people through many social media platforms.So, (Ritchie, 2023). AI automatic technology makes home appliances more advanced and essential to reshaping the lifestyle. Every technology offers massive potential and enhanced impact on the world.So, Many technologies have been delivered to improve economic growth and reduce potential risks. Advanced robotics release human workers from physical tasks, and well-being trusted machines leads to improved productivity, and 5G revolution upgrades optimize urban infrastructure, creating faster data transfer rates.
Cloud Computing: Benefits & Challenges
Cloud computing is one of the fastest-growing enhanced technologies all over the world that helps to store and secure data in the cloud using cloud services and providers and able to rebuild the data whenever we want, which is maintained by cloud providers. It is on-demand availability that could store the information in the form of files, images, and specified documents. Many organizations use cloud computing for large-scale services without further upcoming investment. Rich internet applications ran on the internet to develop it (Thrishal & Ramkumar, 2023)).So, It is a dynamic evolution that should applicable to both hardware and software hosted by the internet. Cloud computing provides smarter ways to make business life simple and enhanced.
It is connected to several local wireless networks over the internet. Cloud computing is a virtualized technology that provides large number of services and overcome the scalability and flexibility of peer-to-peer communication in advanced networks. Cloud computing is an internet-based technology that increases the capacity and has large number of applications that compute globally. The evolution of technology is gradually increasing, and the impact of this technology on the IT sector has increased globally. It is a wireless broadband network with a larger bandwidth and advanced infrastructure. Cloud computing allows a large number of data centers to operate over networks rather than local servers.
Service models of cloud computing
Depending upon the applications and usages, cloud service models are classified on the basis of cloud computing services. There are mainly three service models. IaaS, SaaS, and PaaS (Dash, Saini, Panda, & Mishra, 2014).
Infrastructure as a Service
It is also known as hardware as a service. Infrastructure as a Service (IaaS) provides storage, networks, and other services. So,Many companies access these services so that they connect virtually, which allows for dynamic scaling. It is a fully demanding outsourced service.
Platform as a Service
The service is used to provide platforms to the users, which are used to develop applications through web browsers without worrying about the infrastructure. This is known as Platform as a Service. Users should utilize this service to develop their own web applications by using the platforms. We regularly update these services with existing features. Here, we could manage applications and data.
Software as a Service
This service is mainly useful to organizations, so employees run the application by using software. Theservice offers software where infrastructure and platforms are already available.So,In this model, usersresponsibility is to operate the software only. One of the examples of SaaS is Salesforce CRM.
Benefits of Cloud Computing
Cloud computing offers a rapid range of benefits that contribute to the enhanced growth of technology all over the world. The few benefits are described below:
Reduce costs and time.
Users reduce the need for expensive servers by utilizing cloud computing services. Cloud services provide the necessary requirements, and they charge a few amounts depending on the concern. They also provide all facilities concurrently, so there is no need to wait to setup(Islam K. V.,2017).
Accessibility
The advanced version of cloud computing provides access to users so theywork with their applications anywhere with the help of PCs, laptops, and mobile devices. Cloud servers stores the work without having to outsource network resources. It helps organizations embrace the technology.
Enhanced speed and bandwidth
Users can utilize cloud computing for faster server performance and larger bandwidth, depending on the workload, without straining the network. It often speeds up processing by improving the bandwidth.
Immovable Environment
Cloud computing provides a secure, reliable environment by monitoring and updating continuously. If a theft of data occurs, there is a chance to lose the data. So, multiple servers from different locations could establish a secure environment for the information with advanced security measurements.
Challenges of Cloud Computing
It is common in every technology, and the rapid change in technology brings numerous challenges to the world. Some of the upcoming challenges that the world will face. They are:
Internet Connectivity
Cloud computing servers require high-speed internet connectivity. Sometimes, every organization and individual experience troubleshooting problems that may result in Internet outages. Downtime leads to economic loss for businesses(Islam, et al., 2023).
Data infringement and relocating
If a hybrid cloud environment’s security is compromised, unauthorized access to the information in the shared databases among other organizations or users can be gained. These may result in the organization going down. In some situations, there is a chance for the movement of data from one storage to another, which might cause a loss of data (Islam K. V., 2017).
Account Hijacking
This is one of the security challenges that cloud computing may face. Cloud service users use their passwords to access their accounts. A forbidden user might steal the sensitive data of users and organizations if they hack into your account. So, there is a chance of malware activity. To reduce this, it is better to use a two-factor authentication system.
Conclusion
Cloud computing is an emerging and enhanced technology with a wide range of applications at the same time, the future of technology and organizations is bright if it meets their business needs. After analyzing various aspects of cloud computing, even though having various security challenges, it offers numerous advantages. Each and every challenge has a solution. So, Organizations should examine the risks carefully before investing in them. Cloud service providers contribute to advanced and updated versions to increase the economic growth of businesses.
See these Links:
Content Monetization
Content Monetization Explained: Models, Platforms, & Strategies
Check for Sample Content:
Report on Different Types of Data Analytics Frameworks
Financial Ratios
References
Amond, R. (2024, January 27).So, What are dividends and how do they work? Retrieved from CNBC: https://www.cnbc.com/select/what-are-dividends/
Bannerman, S., & Fu, G. (2019). So,Analyzing Access to Long Term Debt Effects on Firms Growth: Evidence of China.So, Counting on your usual Support. European Journal of Social Sciences, 58(1), 5-13.
Cornett, M. M., Jr, T. A., & Nofsinger, J. (2023).So, Finance Applications and Theory (2 ed.). New York: McGraw-Hill/Irwin.
Napoletano, E. (2022, April 4).So, What Is Investing? How Can You Start Investing? Retrieved from Forbes: https://www.forbes.com/advisor/investing/what-is-investing/
Shumali, S., & Abuamsha, M. (2022).So, Debt structure and its impact on financial performance: An empirical study on the Palestinian stock exchange. So,Journal of International Studies, 15(1), 219-229.