The sky is the limit with cloud technology

TECHNOLOGY

The “cloud” was once a complex evolution of the Internet technology narrative. It confused those accustomed to conventional infrastructure and did not convince skeptics of its true potential. Today, cloud computing is shaping up to be the next big step in organizations’ efforts to further increase their productivity, agility, innovation and other benefits. In fact, as the pandemic continues, it is inevitable that part of almost every organization’s network will move to the cloud as a means of future proofing their business model.

Amazon Web Services (AWS), the world’s most comprehensive and widely adopted cloud platform, commissioned global strategy consulting firm Public First to create a report on the impact of AWS on the Canadian economy . The findings not only provide a glimpse into how the cloud has impacted businesses at the surface level, but also show how growing cloud adoption can significantly improve the health of a nation’s economy. . For example, the report found that in 2021 AWS generated approximately $8.5 billion in economic value for Canada, supporting 380,000 businesses. It is estimated that by 2030, the increased use and penetration of cloud computing could add another 1.7% to GDP, or more than $40 billion.

And it’s not just something niche companies are leveraging. AWS Country Manager Eric Gales said: “question of why The Possibility of Enterprises Using the Cloud Is Past, But Today Enterprises Want It how When when they can apply it.

As digitally native brands grew during the pandemic, AWS supported their resilience in many ways. Companies already using the cloud have been able to scale to meet the demands of e-commerce and remote work. For the Canadian government, AWS helps customers rapidly develop digital solutions for everything from tracking the spread of COVID-19 to launching cloud-based call centers that can help people apply for the Emergency Response Benefit Program (CERB). supported the “Without the flexibility and usability of the cloud, this would have been very difficult,” adds Gales.

As the benefits of cloud computing become common knowledge, it’s no surprise that many of Canada’s unicorns (startups worth over $1 billion) run on AWS. Among them is Neo Financial in Calgary.

Chris Reid, Co-founder and CTO, Neo Financial

Neofinancial
Neo Financial combines digital banking with a network of personalized reward offerings tailored to an individual’s spending behavior. Despite being a relatively new company, having only been founded in 2019, Neo has grown rapidly to become one of the top financial services providers in Canada. Kris Read, co-founder and CTO of Neo Financial, said: From the beginning, he started using AWS Data Lakes and Analytics, a tool he has been able to use to help his customers with budgeting, mortgage payments, and financial planning.

With over a million customers, Neo has a lot of information to organize. Neo believes the Quantum Ledger Database on AWS is the most robust and state-of-the-art solution when it comes to securely storing financial data. “Tools like this have given us the agility to develop new products and solutions faster,” he says.

Of the 58% of companies using AWS that reported growth over the past three years (compared to just 39% of companies not investing in the cloud), Neo Financial uses AWS cloud computing tools. to expand the brand’s infrastructure and services. Nationwide deployment. “In adopting AWS, it was important to know that our technology could scale infinitely as Neo grew,” he says. “We were able to scale up our processing system to serve over 1 million open Neo accounts and handle all transactions in real time.”

Peter Woodman, Head of Software Development and New Products, Mysa

Mass
Beyond the fintech world, AWS has also made a big impact in the areas of innovation and sustainability. Mysa, a green digital thermostat company founded with a clear mission to fight climate change through energy efficiency, joined AWS’s Activate for Startups program at its launch in 2016. Services help reduce the environmental impact of computing. Peter Woodman, Head of Software Development and New Products at Mysa, said: “AWS allows us to streamline our digital infrastructure without dedicated servers, which makes it easy to scale and incredibly energy efficient.”

Peter also claims that one of the most attractive parts of AWS in the early days was the financial support for startups. “Access to free services through the Activate for Startups program and generous free tiers of services have saved us a lot of money at a very critical time in our company’s development.” Using the Cloud Like 84% of AWS users who reported saving money, Mysa was able to focus on expanding its innovative offerings through new products and services. “Our innovation strategy has always been aligned with how we see the future of energy,” he says Woodman. “Of course, there is a huge technological impetus in energy to ameliorate the climate crisis. We have been moving forward.”

As the cloud computing phenomenon so to speak expands and the technology’s mysteries unravel, Canadian businesses can agree that AWS is an integral part of their growth. And in areas that span productivity, innovation, agility and even sustainability, Canada’s long-established company, along with the country’s booming startups his ecosystem, has tools to maximize impact. is equipped with

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