The Truth About Cloud Migration: Debunking Myths in 2024

The modernization trend in 2024 remains sluggish compared to the post-COVID rush, with companies cautious about migrating legacy systems to the cloud without clear business cases. The notion of cost-saving in the cloud has been debunked due to increased component costs despite lower unit prices. However, there's a growing interest in self-funded modernization that reduces costs by upgrading underlying technology.

Despite the deceleration, certain areas show growth potential. "Digital run" involves investing in already digitized business functions, aligning tech with evolving business needs. Generative AI, recognized as a powerful tool, has seen experimentation but awaits broader production use due to change management and security hurdles.

Accelerated growth is expected in Business Process Services (BPS/BPO), leveraging technology to reduce operational costs. This sector may surpass traditional technology services in growth, reflecting the industry's shift towards cost-effective modernization.

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