Cloud computing: Is failure built in?

I track fintech because it concerns our finances and the amount of funding it attracts to create new financial products. It is also one of the most regulated industries. As such, healthcare requires imbibing the little risk taking to spur innovation, rather than resist technology onslaught at the edges (under the garb of “wellness”). What will hospitals do when smart phones overtake the healthcare? Not in the immediate future, but technology companies are operating on the long-term blueprint.

I have included the PDF linked from FT article.


Finance’s big tech problem | Financial Times

The market for cloud computing software walks and quacks like an oligopoly, with Amazon Web Services, Microsoft Azure, Google Cloud and Alibaba Cloud accounting for around 70 per cent of global revenues.

The current cloud computing market is as follows:

The ingress costs are not much, which means these service providers can afford to discount the onboarding while keeping the costs of data egress punitive. Herein lies the rub, and despite the hoopla about AI “revolution”, imagine if cloud computing goes offline. While you entrust your critical functions to them? Cyberattacks are another risk, especially as the proprietary systems are beyond scrutiny.

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