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The enterprise spending on cloud infrastructure services reached $42 billion in the second quarter (Q2), increased by $2.7 billion from the previous quarter and up 39 per cent from the second quarter of 2020, according to a new report. <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>'s worldwide market share nudged back up to 33 per cent. <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> accounted for another 30 percent of the market and the next 20 cloud providers combined had a 28 per cent market share, the data from Synergy Research Group showed. "This market continues to be a runaway success story for Amazon, Microsoft, Google and some other cloud providers. You would not normally expect to see growth rates actually increasing in such a huge and rapidly developing market, yet once again that is what our research has shown," said John Dinsdale, a Chief Analyst at Synergy Research Group. Amazon, Microsoft and Google in aggregate are typically investing over $25 billion in capex per quarter, much of which is going towards building and equipping their fleet of over 340 hyperscale data centres. "There remains a wealth of opportunity for smaller, more focused cloud providers, but it can be hard to look away from the eye-popping numbers coming out of the big three," Dinsdale said in a statement. For the fourth successive quarter, the year-on-year growth rate increased, which is unusual for such a large, high-growth market. In previous quarters, Microsoft and Google had been slowly gaining ground on Amazon, but after achieving 10 per cent growth from the previous quarter, Amazon's worldwide market share nudged back up to 33 per cent, the report noted. Public IaaS and PaaS services account for the bulk of the market and those grew by 41 per cent in Q2. "The dominance of the major cloud providers is even more pronounced in public cloud, where the top five control 80 percent of the market. Geographically, the cloud market continues to grow strongly in all regions of the world," the report informed. SEE ALSO <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

Amazon, Microsoft and Google control nearly two-thirds of the global cloud infra market

<ul><li><keyword id="4625198" type="General" weightage="50" keywordseo="faiz-shakir" source="Orion">Faiz Shakir</keyword>, MD - Sales, <keyword id="14674089" type="General" weightage="20" keywordseo="nutanix-india-saarc" source="Orion">Nutanix India &amp; SAARC</keyword>, <keyword id="2436665" type="General" weightage="80" keywordseo="nutanix" source="Orion">Nutanix</keyword> speaks to Business Insider <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> on why a ‘public-cloud only’ approach is not the way forward for banks and large enterprises. </li><li>Long-term cost implications of public cloud have emerged as a predominant discussion in the industry.</li></ul> The banking sector recognises the need to be digitalized so it can achieve sustained growth in a market where the consumer demands everything-as-a-service. Cloud adoption is a critical factor enabling the transformation for banks. However, regulatory constraints, increasing costs and management complexities are compelling banks to reassess their cloud strategies. Faiz Shakir, MD - Sales, <keyword id="5055928" type="General" weightage="20" keywordseo="india-saarc" source="Orion">India &amp; SAARC</keyword> at Nutanix, a cloud software and hyperconverged infrastructure solutions provider, talks to Business Insider India in detail about emerging cloud models. Tell us how regulated industries, especially the banking sector players, are taking a relook at their cloud journeys? Banks are certainly evolving in their cloud adoption journey. More specifically, cloud adoption today among banks is truly a hybrid multi-cloud model, where they are trying to get the best out of both worlds. Banks realise the need to be extremely agile, as fintechs and NBFCs ensure that the banks cater to the Gen- Z requirements. A recent <a href="https://www.nutanix.com/enterprise-cloud-index">Enterprise Cloud Index (ECI)</a> report has revealed that 84% of enterprises in India prefer hybrid multi cloud as their ideal operating model, and that 58% are expecting to implement such environments within three years. From a Nutanix perspective, this is one market we have done particularly well in. Eight out of 10 banks in India use Nutanix for their hybrid cloud journey. In the last 12 months, our partnership with players like AWS, Azure and Redhat has made us an integral part of organisations’ cloud adoption journey. In addition to addressing regulatory requirements, how are hybrid cloud models enabling banks with agility? Elasticity is a key outcome that banks are certainly expecting, especially to address big variations in resource demands. Many banks that we work with now have the capacity and the ability to move applications and resources to the public cloud in case of an elastic need and pull it back in when they don’t need that elasticity. This enables banks with agility and ease of operations. This level of agility is something banks could not have achieved if they were operating on legacy infra. For example, a bank that runs a home loan mela for a couple of weeks will observe a massive shoot up in resource and workload demand. We work with banks to help them dynamically move certain workloads to a public cloud during these peaks in demand and bring them back to their data centers when elasticity is not required – all of this in a seamless manner. Could you talk more about some of the Indian banks that Nutanix works with and how they are leveraging hybrid multi cloud for digital transformation? Our work with <keyword id="2179992" type="General" weightage="50" keywordseo="rbl-bank" source="Orion">RBL Bank</keyword>, one of the fastest growing banks in India, is an apt case in point. RBL, being a new age bank, caters to the Gen-Z crowd with a rapidly growing credit card base. They also need to ensure that business continuity is in place at all times. But their legacy systems were not built to address the growing digital needs. As part of their IT transformation program, the bank partnered with Nutanix in 2018 to leverage hybrid cloud models. At the end of the program, the bank was able to reduce its time to market to a few hours from a few days. It also saw a significant increase in credit card sales and call center efficiency. The bank’s IT downtime is virtually eliminated while ensuring that costs are under tight control. You brought out the key aspect of controlling cost, which in a way is the elephant in the room. How are banks relooking at the public cloud from a cost point of view? Are organisations unable to achieve economic benefits as they mature in their public cloud adoption journey? Cloud repatriation – shifting away from public cloud to on-premise infrastructure - is a reality. Nutanix has been talking about it at a very early stage – that cloud repatriation is going to happen. In the last few years, the largest companies were made to believe that they could only be agile if they were ‘public cloud-first’ or ‘public cloud-only’. So, a lot of companies moved in that direction and a lot of those companies have come back and rethought through that journey. I am not implying that public cloud is not the way forward. I think public clouds are fantastic. But “public cloud only” is certainly not the way forward. Several of the banks that we work with have gone the repatriation route after having moved lock, stock and barrel to the public cloud initially. Cost is the biggest driver of cloud repatriation and hybrid cloud is becoming the de-facto choice for organisations in that context. Repatriation across verticals, and more so in banks, is massive. At Nutanix, we deal with these queries on a daily basis. Even the new-age, digital-native companies – for example, the fintechs, NBFCs etc – who are ‘born in the cloud’ are going to move to hybrid cloud. With the mounting costs and the prevailing economic conditions globally, they would be compelled to re-look at these factors. It's such an anomaly if you look at it. What is going so terribly wrong with public cloud costing? Long-term cost implications of public cloud have emerged as a predominant discussion in the industry. As organisations scale their cloud adoption and advance to matured usage, the initial benefits start to fade. As companies start consuming more public cloud services, it starts to have a major impact on their cost of revenue, according to studies. Unfortunately, there is no way to regulate this. Then there is also a massive reality of shadow IT. Cloud usage is typically not controlled by the CIO’s (chief information officer) office. So managing and controlling the entire thing is a challenge. Public cloud is great as long as you have those guardrails, you can manage it well and you know exactly what you need. But leveraging public cloud for a longer duration, particularly for predictable applications, does not seem to be cost effective. For example, organisations on the public cloud end up paying the same cost for their test and dev (development) applications as they do for their highly-critical production applications. Nutanix have had customers who have saved up to 2.7X over three years by choosing a hybrid cloud model as opposed to a public cloud model only. How has Nutanix evolved from being an <keyword id="12375218" type="General" weightage="50" keywordseo="hci" source="Orion">HCI</keyword> (hyper-converged infrastructure) company to a hybrid multi-cloud enabler. We pioneered the concept of HCI and have been steadily evolving over the years to stay relevant in a hybrid multi-cloud world – which to me is the ‘hyperconvergence of clouds’. Today, we provide the bridge to enable organisations to seamlessly leverage any cloud, any applications, any hardware, any hypervisor and on any platform. Our partnership with players like AWS, <keyword id="10387" type="General" weightage="50" keywordseo="microsoft" source="Orion">Microsoft</keyword> and Red Hat has been a massive driving force for Nutanix adoption. Today we are using the ecosystem to be that much more critical to our customers as opposed to being a one-trick pony in HCI a few years ago. While HCI is still a critical factor for our business, I would say we are equally relevant in the cloud space with our alliance partnerships. Our subscription model, for example, has seen significant uptake and we believe it is the way forward. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/binance-ceases-off-chain-fund-transfer-with-wazirx-after-ed-raids/articleshow/93445472.cms">Binance ceases off-chain fund transfer with WazirX after ED raids</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-russia-ukraine-war-helped-this-thane-based-company-become-a-multibagger/articleshow/93439898.cms">How Russia-Ukraine war helped this Thane-based company become a multibagger</a>

Mounting public cloud cost is driving cloud repatriation in the industry

<ul><li>Growing <keyword id="1435752" type="General" weightage="20" keywordseo="cloud-adoption" source="Orion">cloud adoption</keyword> will further drive the usage of <keyword id="572745" type="General" weightage="20" keywordseo="virtualization" source="Orion">virtualization</keyword> globally and in India. </li><li> According to the World Economic Forum, virtualization will save up to 25% of enterprises’ tech budgets by 2025. </li><li>Application virtualization is predicted to make great strides in the next couple of years.</li></ul>The last two years have crunched every budget and forced every strategy to ensure fast adoption of digitization. Businesses that are not digital yet, may not survive for much longer. The cloud is the new enterprise terra firma. As the cloud becomes an inseparable part of every organization’s growth strategy, virtualization is the path that everyone needs to take, especially organizations with a legacy as well as modern IT infrastructure, that need to ensure that there is no distinction between traditional virtualization platforms and modern container-based platforms. The biggest driver for this growth will be the global shock that enterprises received when the world came to a standstill for two years- and the only saving grace for a disaster recovery plan, to allow for business continuity, was migrating data and all business processes to the cloud. Sajith Chakkingal, Head of Global Technology Services &amp; India Technology Centre, TMF Group - a global services firm, believes that cloud will be a key driver of growth for virtualization. “Virtualization will continue to play a vital role globally and for Indian enterprises. Historically, since the time bare-metal became less of a priority for organizations, virtualization has helped reduce capex, opex and downtime while improving productivity and agility for organizations. I believe that virtualization is set to grow further as cloud services adoption grows. Cloud is nothing but virtualization in the background.” The advantages of the cloud are everyday knowledge for anyone associated with technology in any industry. Businesses can survive only if their data and team collaboration interfaces are on the cloud, where information that is critical for smooth operations can be accessed by all employees. With a huge surge in services that can be delivered from the cloud, its adoption has increased manifold, taking its basic process- virtualization- with it. Data Speaks In totality, the demand for software that enabled these solutions is expected to double by 2025. According to Resreachandmarkets.com’s report - “Virtualization Software Market - Growth, Trends, Forecasts (2020 - 2025)”, ‘ the Virtualization Software Market was valued at $14.69 billion in 2019 and is expected to reach $33.76 billion by 2025, registering a CAGR of 15.2%, during this period. In this period, India’s spending on public cloud services reached $3.6 bn, and that is expected to grow to $9.5bn by 2025, maintains market research by IDC. In a more recent 2022 TechTarget/Computer Weekly IT priorities survey, this data was re-iterated when more than 65% of IT leaders across enterprises in India confirmed that their enterprises were cloud-first, meaning they had fully adopted IoT and all other cloud-based tools to ensure seamless customer experience. World Economic Forum figures say that virtualization will save up to 25% of enterprises’ tech budgets by 2025. Even more interestingly, with the adoption of the cloud and virtualization of enterprise processes, globally about 50% of energy costs can be saved in the same period, cutting down 180 million tons of carbon emissions, leading to $15 billion as savings for customers. This data is a clear indication of how increasing virtualization will impact the enterprise world in the coming years. Having said that, while server virtualization has been adopted by almost 95% of the businesses, there are some forms of the technology that are still not quite there. The next wave of growth, says Chakkingal, will be around application virtualization. “With the adoption of desktop and network virtualization maturing, application virtualization will go through a phase of double-digit growth in the next couple of years,” he says. The future of virtualization Storage virtualization (software-defined storage) is up ahead in terms of adoption with almost 40% of all enterprises having adopted it (according to a Spiceworks research), application and desktop virtualization are catching up slowly, and network virtualization (SDN or software-defined networking) is lagging still. Clearly, in the coming months, these will get a bigger focus as far as the adoption of technologies is concerned. While most organizations have been able to at least set a roadmap for complete digitization, many continue to grapple with multiple infra assets. It’s a challenge to do that without stretching their IT resources, and one of the solutions is composable disaggregated infrastructure (CDI). It helps to silo the hardware into resource pools that are easier to manage and allow for handling different kinds of workloads ranging from pure virtual machines to bare metal. Even though containerized applications are still around, virtualization platforms will be playing a growing role in application delivery soon, albeit in modified forms to suit consumer needs – the ability to handle increasingly innovative applications as well as addressing the need for increased flexibility and security. Safe to say that over the next few years, virtualization will grow from strength to strength, though it will be continuously evolving to meet changing market needs- agility, flexibility, and portability across newer infrastructure, modernization, cloud maturity, or even security advancements. The bottom line will be virtualization as technology will evolve, change, and modify itself to meet the core needs of the erstwhile cloud- which of course, is the future of all enterprises. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/spicejet-gets-showcause-notice-from-regulator-for-failing-to-establish-safe-air-service/articleshow/92701004.cms">SpiceJet gets showcause notice from regulator for failing to establish 'safe air' service</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/cleantech-market-could-surpass-the-value-of-oil-market-in-2030/articleshow/92702121.cms">By 2030, cleantech market could surpass the value of oil market</a>

Cloud adoption is growing and it will drive virtualization too

<ul><li><keyword id="9349591" type="General" weightage="100" keywordseo="blusmart" source="Orion">BluSmart</keyword> is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025.</li><li>Back in 20221, <keyword id="15125737" type="General" weightage="20" keywordseo="Jio-BP-and-BluSmart" source="Orion">Jio-BP and BluSmart</keyword> joined hands to set up EV charging stations in India.</li><li>BluSmart has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR, according to the company.</li></ul>As India rides on the EV bandwagon with the government promoting several use cases, BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025. Rishabh Sood, CTO, BluSmart, told IANS that from a charging infrastructure perspective, both state and central government responses have been great and have floated many projects on a PPP basis. With the ever-growing customer base, Sood added, it is imperative to have BluSmart's services up and running with zero downtime and for this, the startup relies on various AWS services to build a strong foundation. Here are the excerpts from an interview: Q: What is BluSmart's USP? How do you differentiate yourself from other players in the <keyword id="6744459" type="General" weightage="20" keywordseo="EV-fleet" source="Orion">EV fleet</keyword> landscape? A: BluSmart is the only ride hailing service in the country that ensures zero emission, zero surge and zero ride denials to its customers and zero financial investment from its driver partners. We believe the source of our sustainable competitive advantage is that we have built multiple small MOATs around various parts of the business, which are collectively keeping us ahead of the curve. On the customer end, by solving for the core issue of hassles of ride booking, cancellations, surge and unclean cars we have been able to build a very loyal customer base. This hassle free experience of zero surge, zero cancellation and clean cars with courteous drivers being achieved every day repeatedly is starting to become a habit. On the driver end, by solving for the core issue of driver partners' inability to buy, own and maintain assets, we have been able to build loyalties on the drier partner side, which is immensely important since they are the brand custodians on the roads and are the ones who uphold the brand promise every time. On the technology side, by solving for the core issue of "fuel being a constraint" with EVs as against ICE powered vehicles where the ride-hails tech historically has not been required to worry about the fuel inside the car. Building a technology backend which is born electric and takes a full stack approach towards solving for ride matching at scale where no human is required to take decisions and the technology optimally guides the drivers right from picking up customers to reaching the nearest EV charging stations when running out of charge. On the partner ecosystem side, by solving for the core issue of having partners who have a purpose and a vision that feeds into each other's ambitions. Having partners like BP Ventures who come with the right global experience around energy and team building. Having partners like JioBP, which is a JV between Reliance and BP in India and having the backing of the largest enterprise in India in building more EV charging infra. Having partners like Tata Motors, who have decades of experience in automobiles and have taken the right stand when it comes to EVs and is able to support the growth ambitions of BluSmart. Q: For India to achieve its vision of reducing emission intensity by 45 per cent by 2030 and reach the net-zero target by 2070, EV would have to go mainstream. What are some of the biggest roadblocks you see today in India, be it in the manufacturing, EV financing, regulatory and policy landscape? A: The country has faced supply and delivery challenges in the past in getting EVs from leading OEMs around the country due to the semiconductor chip crisis in the past 3 years. Since, the supply chain and semiconductor issues have now started to relax, we are seeing an accelerated movement towards vehicle production and delivery. We believe that the manufacturing of EVs needs to be scaled up massively to support the increased adoption of EVs which in turn will lead to economies of scale. Also entry of established players into the EV industry will provide a variety of options to the common man. From a charging infrastructure perspective, both state and central government response have been great and have floated many projects on a PPP basis. We have also partnered up with giants such as Jio BP to help our expansion plans and create more charging infrastructure. Ramping up of charging infrastructure will play a key role in achieving net zero emission. Q: Tell us about the scale of your operations/size of EV fleet in India and your projected growth trajectory over the next 5 years? A: BluSmart currently operates an electric fleet of 2,200+ EVs on its platform. BluSmart Mobility is the most preferred mode of public transportation across Delhi NCR having completed 2.5 million+ all electric trips, covering over 86 million+ clean kms with over 900,000+ app downloads with an app rating of 4.9 out of 5.0 in the last year. It has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR. On September 26, 2022, BluSmart expanded geographically and started its operations in Bengaluru as its second city. BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on our platform by 2025. Q: What has AWS and cloud technology enabled you to do better? A: AWS is our trusted cloud partner for its feature rich and highly performant ecosystem of diversified services. With the ever growing customer base, it is imperative to have BluSmart's services up and running with zero downtime and this is where Amazon CloudWatch helps to preemptively learn metrics breach and remediate the same automatically. BluSmart uses Amazon Aurora, which is designed for exceptionally high performance and availability at a global scale with full MySQL and PostgreSQL compatibility. We adopted Aurora because it gives us the ability to manage our data at a large scale without having to deal with maintenance and optimizations at our end. At BluSmart every decision we make is driven by data hence we wanted a petabyte-scale data warehouse service that makes it simple and cost-effective to efficiently analyze data using existing business intelligence tools therefore we decided to go with Amazon Redshift as it provides constant monitoring of operations, logs, auditing, and traceability. We discovered key improvements in cost and performance for improving speed to market and operational efficiency. During our peak demand periods, we rely on AWS Autoscaling to handle high surge in requests by scaling containers and Database read replicas to provide seamless and elated customer experience. We at BluSmart are focused on the security of our data, infrastructure and resources and we rely on various AWS security services to build a strong foundation. We will continue to explore further on AWS in the future, adding new features and capabilities along the way. Q. In terms of business outcomes, what benefits have you experienced because of running on AWS? Please provide metrics where applicable: A: We have been able to bring efficiency in handling the demand and process performance by reducing the effort of self managing and monitoring the infrastructure. Without having to spend time on infrastructure engineering, developers are able to focus on the core product development which helps us reach the market faster. Usage of autoscaling to handle the load of peak and non peak demands efficiently by dynamic scaling up and scaling down of cloud infra on an intraday basis provided a significant cost advantage over maintaining a dedicated infra for peak loads. Further, periodic snapshots, data replication and disaster recovery strategy helps us mitigate data and infrastructure risks. 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BluSmart to set up EV charging infra projects across India in PPP mode

<ul><li>The festive-season momentum of increased hiring in retail, e-commerce, and BFSI sectors will likely spill over into 2023. </li><li>A similar trend is expected in the services-oriented industries of hospitality, and airline sectors as people continue to travel more to make up for the Covid-time isolation. </li><li>A survey by <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/15/et-corp/indian-it-hiring-to-buck-global-trend-may-pick-up-in-23/articleshow/96235151.cms">Randstad</a> says that hiring in the Indian IT sector is likely to rise in the first quarter of 2023 as seven out of 10 companies plan to increase their headcount in the period. </li><li>Data science, analytics, and other technology-related job roles are likely to continue to be in demand in the new year.</li></ul>Specialised IT, telecom and service-oriented jobs will be on the upswing in 2023 as increased digitalisation, 5G expansion and a claw back by service sectors to pre-Covid levels of growth — will necessitate increased hiring in these sectors.Also, the momentum from the festive season-driven hiring growth in retail, e-commerce and BFSI (banking, financial services and insurance) sectors witnessed in the last quarter of 2022 will likely spill over into the next year, industry players say. <cmsannotation type="cmsannotation" annotationid="High-skilled IT jobs, telecom sector to drive growth" comment="subhead" text="High-skilled IT jobs, telecom sector to drive growth">High-skilled IT jobs, telecom sector to drive growth</cmsannotation> Despite the large-scale job cuts and hiring freeze affected by global technology players, the Indian IT sector is likely to defy the global trends and see hiring next year – especially for specialised digital skills. A survey by staffing and recruiting services firm <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/15/et-corp/indian-it-hiring-to-buck-global-trend-may-pick-up-in-23/articleshow/96235151.cms">Randstad</a> says that hiring in the Indian IT sector is likely to pick up in the first quarter of 2023 as seven out of 10 companies plan to increase their headcount during the period. And the country’s big push for 5G expansion in 2023 will see a surge in hiring in the telecom sector as well. “Sectors such as IT, healthcare, e-commerce will continue to grow and with the advent of 5G, we will see a sharp rise in telcom jobs as well in the next few quarters. With the rising job market and ever-evolving concept of job, it will be interesting to see how India defines the future of work,” Sashi Kumar, head of sales at Indeed India, told Business Insider India. To be sure, the hiring pace in the Indian IT sector slowed down this year and this was particularly seen in the case of freshers. However, experts say that the demand for IT digital skills like SAP, salesforce developers, dot net, data analytics, java, full stack, devOps, and cloud infra will continue to remain strong in 2023. “We do see an upswing in demand for digital skills as the services sector continues to hire,” Nitin Dave, CEO – Quess Staffing Solutions told Business Insider India. According to a recent Indeed survey, around 71% of companies recruited people with IT abilities and skills this year. Data science, analytics, and other technology-related job roles are likely to continue to be in demand next year as well, according to Kumar of Indeed India. “High-skilled engineering employees who have prowess for futuristic tech are in demand and they have multiple opportunities, hence we see that employability is positive,” Kumar added. Crypto roles - which had the biggest share of hires in overall technology job roles, increasing from 41.22% in 2019-20 to 67.48% in 2021-22 – will continue its upward growth with high demand for application developers, data engineers and full-stack developers. Another big source of demand for human resources will be from global capability centres (GCCs). “We also expect to see an increase in job demand from the growing number of GCCs in India,” Dave added. GCCs will create over 3.64 lakh new jobs over the next 12 months, a 38% rise from last year, according to a <a href="https://www.livemint.com/technology/tech-news/gccs-to-ramp-up-india-hiring-11670426280595.html">report</a> by staffing firm NLB Services. <cmsannotation type="cmsannotation" annotationid="Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party" comment="subhead" text="Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party">Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party</cmsannotation> Bengaluru will continue to lead in hiring of IT professionals. As per Quess data, the overall tech hiring is expected to be dominated by Tier 1 and Tier 2 cities like Hyderabad, Chennai, Mumbai, Pune, NCR, Ahmedabad, Kolkata, Jaipur and others. “We are seeing a positive growth of product and engineering roles in India, which will grow exponentially in the coming years. As a result of the pandemic’s digital push, there is a rise in jobs in engineering and R&amp;D being made available in Tier 2 and 3 cities as well,” Kumar said. Cities like Ahmedabad, Vadodara, Kochi, Indore, Jaipur, Surat and others are expected to contribute over 6.5% of total R&amp;D jobs in 2023, according to data by Indeed. <cmsannotation type="cmsannotation" annotationid="Jobs in the services industry on the upswing" comment="subhead" text="Jobs in the services industry on the upswing">Jobs in the services industry on the upswing</cmsannotation> Hospitality industry will be a key employer as people have started travelling again with a vengeance and this trend is not likely to slow down despite high inflation and interest rates, industry players added. “We are also optimistic that the hospitality, aviation and retail sectors will soon return to pre-pandemic levels,” said Dave. The aviation industry – one of the most affected industries due to the pandemic lockdowns – had to cut <a href="https://www.businesstoday.in/industry/aviation/story/covid-19-impact-10-jobs-in-aviation-sector-lost-between-apr-2020-and-dec-2021-says-govt-327667-2022-03-28">10% or 19,200 jobs</a> between April 2020 and December 2021 due to the Covid-19 pandemic, VK Singh, Minister of State for Civil Aviation said in March this year. However, the ministry in August <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/indias-aviation-sector-likely-to-employ-1-lakh-more-people-in-next-two-years/articleshow/93432356.cms">said</a> the Indian aviation industry would employ over 1 lakh people in the next two years. A growing regulatory push for ESG (environment, social and governance) compliance will drive demand for professionals in this space next year. “We are also seeing more roles in the sustainability and ESG space ranging from engineers, and research analysts to consultants,” Kumar said. Besides growth in regular jobs, g<a href="https://www.businessinsider.in/careers/news/india-to-add-9-million-gig-jobs-by-2025-says-indeed-report/articleshow/96060459.cms">ig jobs</a> in the retail and e-commerce sectors – which saw a steep growth this year – will continue to rise in 2023, experts say. As per Indeed, 9 million gig workers will be added to the Indian workforce in the next three years. “Companies have also begun to invest in platforms and procedures for gig labour, underscoring how crucial they are to India's future job growth,” said Kumar. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fintech-player-zaggle-files-ipo-papers-with-sebi-to-mobilise-funds-via-ipo/articleshow/96367455.cms">Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/tirupati-lucknow-madurai-and-other-non-metros-that-transacted-the-most-for-movies-as-per-bookmyshow/slidelist/96366956.cms">Tirupati, Lucknow, Madurai and other non-metros that transacted the most for movies, as per BookMyShow</a>

Jobs market outlook 2023: Specialised IT, telecom and service-oriented sectors to drive hiring

New Delhi, June 2 (IANS) As a result of the spread of the pandemic, 64 per cent of the organisations in India are expected to increase demand for cloud computing while 56 per cent for cloud software to support the new normal, a new IDC report said on Tuesday. The need to work remotely is bolstering the demand for SaaS-based collaborative apps, to ensure on and off-site presence at all the times and zero-disruption to business. This will also increase the need for remote support services  both human professional services and of the cloud software  especially security/identity. "As industries move away from infrastructure of ownership, pay-per-use models are likely to see an accelerated demand. Public cloud services will be among the few technologies that are positively impacted by the COVID-19," said Rishu Sharma, Principal Analyst, Cloud and Artificial Intelligence, IDC India. The India cloud market is going to witness a visible impact in the probable and pessimistic scenario in terms of heightened adoption with public cloud leading the forefront of all infra-related investments, according to IDC's 'COVID-19 Impact on IT spending Survey May 2020'. According to it, virtual private networks (VPNs), collaboration suites, end-point encryption, and cloud tools will witness an uptake. "Industries like media, education, and IT/ITeS are likely to see an increased uptick primarily because of online entertainment, virtual classrooms, and increased need for collaboration as a result of increased remote working," the findings showed. "We expect an accelerated adoption of cloud, as organizations explore testing of many new initiatives natively on cloud," Sharma added. The report covered the change in cloud budgets and the technology demands to ensure business continuity. According to Sharath Srinivasamurthy, Research Director, Enterprise Solutions &amp; ICT Practices, IDC India, while the impact of COVID-19 will be clearer in the coming quarters, Cloud has been a saviour during the crisis. "Cloud-based VDI and collaboration tools helped enterprises to stay in touch with their employees, clients, and partners. Cloud-based solutions continued to run and enable seamless business operations during the crisis and this has increased the confidence of enterprises in embracing cloud," explained Srinivasamurthy. --IANS na/

Covid-19 to push 64% Indian firms adopt cloud computing: IDC

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Getty</div></div></div><ul class="summary-list"><li>The Open Compute Project was founded by Facebook several years ago to create faster, cheaper, designs for data center hardware that are free for anyone to use.</li><li>It has become a wildly popular project, and now includes Microsoft, Google, Apple, Goldman Sachs and other big companies.</li><li>A new report commissioned by OCP says that its hardware, excluding that bought by its board members like Facebook and Microsoft, has become a $2.5 billion market, and will grow to $10 billion in three years.</li><li>Next up: the telecom industry.</li></ul>The <a href="https://www.businessinsider.com/category/open-compute-project">Open Compute Project </a>began its life at Facebook as a revolutionary idea to do for data center hardware what Linux and open source software did for the software market. In other words, the OCP comes up with cutting-edge, super-efficient designs that any company can use to build their own hardware. And the OCP has succeeded, by most reasonable metrics. The project has created a fanatical following among data center engineers, and has led to the creation of products in 10 categories, including networking, servers, and storage. And in terms of dollars and cents: On Thursday, the preliminary results of a new market assessment report commissioned by OCP was released. That report finds that companies spent more than $2.5 billion on OCP-designed products in, up from $1.16 billion year the before.Read: <a href="https://www.businessinsider.com/att-airship-cisco-vmware-google-cloud-2019-2">AT&amp;T signed an '8-digit' deal that isn't good news for VMware, Cisco, or Huawei - but could be great for Google Cloud</a>And this report doesn't actually reveal the true amount being spent on OCP gear.It deliberately hides what the project's board member companies are spending on their OCP equipment, which includes Facebook, Goldman Sachs, Intel, Microsoft and Rackspace. Those companies run enormous data centers and buy a lot of data center equipment, meaning the real figure is likely higher. The reason the board members are excluded is to try and show that the project is having an impact beyond the handful of companies in leadership roles - although it's a bit coy of the organization to keep mum on how much money those companies pour into the ecosystem.Even so, the commissioned report makes a fair case that OCP is creating a multi-billion market. Excluding the purchases of board members, OCP products account for nearly 1% of the total data center market, which it pegs at $127 billion, the report says. Interestingly, the report also finds that the overall data center equipment market is shrinking, from $137 billion in 2017 to $127 billion in 2018. Companies across the board are reducing their use of private data centers, as their use of the cloud increases. And OCP includes many of the big cloud providers that are taking those workloads, including Microsoft, Google and Rackspace.Simply put, that means that OCP has been eating the data center market in a measurable way.<h2>Engineers love it</h2>OCP's goal is to take the power out of the hands of traditional server and networking vendors like Hewlett Packard <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="enterprise">Enterprise</keyword>, Dell, or Cisco, and put it into the hands of the companies who buy and use that hardware.While all three of those companies have joined the project, OCP members design their own servers, storage, and networking gear, making them cost less and perform faster than traditional commercial alternatives. Then, they share their designs for free. Anyone can modify those designs for their own use, or share them with the group.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://registration.opencompute.org/">OCP</a>Attendees at the OCP Summit conference</div></div></div>Engineers love it. They get to freely collaborate with other top engineers trying to solve the same problems without worrying about protecting intellectual property or trade secrets.Contract manufactures are available to build the gear, too, to make it easier for even smaller companies to take advantage of OCP gear. OCP has also become such a big thing that a growing list of vendors, including HPE and Dell, also make commercial products that match OCP specifications. So OCP-designed products can be bought off-the-shelf. They don't have to be custom-ordered, lowering the bar to entry.<h2>Next up: the telecom industry</h2>With a loyal following of data center engineers, OCP and Facebook have moved on to a related industry: telecom equipment. Through OCP, telecom providers like AT&amp;T and Deutsche Telekom are working on open source designs for routers and the other equipment that run their networks. This is gear that would challenge networking giants including Cisco and Juniper.A few years ago, Facebook also launched a telecom-specific organization called the Telecom Infra Project. It is working on projects like open source telecom radio transmitters. This is gear that would take on the likes of Ericsson, Nokia and Huawei at this especially critical time, when telcos are upgrading their networks to 5G.Meanwhile, the telecom industry has also decided that it wanted to lead its own open-source hardware project, away from Facebook.A project called the O-RAN Alliance has gained steam, and includes a <a href="https://www.o-ran.org/membership">who's who of the major telecom companies </a>worldwide. This includes AT&amp;T, T-Mobile, Verizon, Sprint, SoftBank, SK Telecom, Telefónica, and others.The industry <a href="https://www.lightreading.com/mobile/fronthaul-c-ran/tip-oran-alliance-poised-to-join-forces-on-open-ran/d/d-id/746815">scuttlebutt is </a>that the two groups, TIP and O-RAN, are going to announce some sort of collaboration next week at Mobile World Congress so they don't duplicate efforts as they work to to upend the global telecom equipment industry.Read: <a href="https://www.businessinsider.com/bill-gates-warns-cow-farts-climate-change-2019-2">Bill Gates warns of the dangers of cow farts - and the world should take his words seriously</a><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://www.youtube.com/watch?v=oCQBkYnwgJs">YouTube/TelecomTV</a>Amy Wheelus, AT&amp;T VP of Network Cloud &amp; Infrastructure heads Airship</div></div></div>OCP's market research report doesn't shed much light on how much money the telcos might shift to these new open source creations.But it does show that telecom companies are one of the major users of OCP gear - including servers, storage and OCP's optical networking equipment.Meanwhile AT&amp;T has taken open source even further. It's<a href="https://www.businessinsider.com/att-airship-cisco-vmware-google-cloud-2019-2"> leading a project called Airship</a> to share software that it's building to run and manage its 5G network. This software can be used for lots of other data center needs at all sorts of other companies.The radical idea that launched OCP is turning into a full-fledged hardware industry coup. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/tesla-model-x-perfect-safety-crash-test-rating-2019-2">Why Tesla's Model X was the first SUV to receive a perfect crash-test rating</a></h3> <div> </div> </div>

Facebook's plan to eat the $127 billion data center market swallowed $2.5 billion last year, and will soon gobble more than $10 billion a year

<ul class="summary-list"><li>Cloud companies took a hit in 2022 and saw massive cuts in public and private valuations.</li><li>Salesforce's layoffs this week are a sign that things will likely get worse in 2023. </li></ul>Last year saw the tech giants take massive cuts to their public and private valuations, as investors suddenly grew fearful of Silicon Valley's chances to thrive in what could turn out to be a massive recession. Much like Freddy Krueger, that nightmare is now becoming a reality: Salesforce, the cloud software company that less than a year ago was boasting of its ability to survive a market downturn, announced on Wednesday <a href="https://www.businessinsider.com/salesforce-layoffs-marc-benioff-overhiring-profits-costs-economic-downturn-staff-2023-1">that it's cutting 10% of its staff</a> — representing about 7,000 jobs — and closing some of its offices. The fact that these cuts come just four days into the year is the clearest sign yet that for tech, the worst is still yet to come, even after all the pain and drama of last year.To be sure, much of Salesforce's situation has <a href="https://www.businessinsider.com/read-marc-benioff-email-to-salesforce-staff-announcing-mass-layoffs-2023-1">nothing to do with broader market trends</a>. The company has seen its <a href="https://www.businessinsider.com/salesforce-losing-key-execs-slack-tableau-growth-slows-critical-moment-2022-12">revenue growth decelerate</a>, it's lost top executives like <a href="https://www.businessinsider.com/bret-taylor-leaves-salesforce-shocking-employees-and-marc-benioff-2022-11">former co-CEO Bret Taylor</a>, and it's still grappling with fully integrating mega-mergers like its $27.7 billion Slack purchase (<a href="https://www.businessinsider.com/slack-ceo-stewart-butterfield-to-exit-salesforce-in-january-2022-12">whose founder also just left Salesforce</a>).All of the drama has had employees waiting for the other shoe to drop for some time now, <a href="https://www.businessinsider.com/salesforce-layoffs-concerns-addressed-hr-exec-brent-hyder-in-meeting-2022-12">as Insider has previously reported</a>. But there is a bigger trend at play. Analysts say that Salesforce, Microsoft, and other business-oriented tech companies are staring down the barrel of customers cutting their IT budgets. As the flow of money into their coffers slows, expect deeper cost cuts, more severe austerity measures, and perhaps even more layoffs. It's not all bad news: Analysts at Bernstein reckon that "cloud should be the most defensive segment of Big Tech" even amid all these macro trends, given that companies are unlikely to completely abandon their reliance on the major platform providers even in a worst-case economic scenario.That said, it'll get worse before it gets better.Right now, IT executives are reevaluating all the <a href="https://www.businessinsider.com/cloud-technology-trend-software-enterprise-2021-2">new technology they invested in</a> during the last two years. The rush to remote working at the beginning of the pandemic meant companies purchased tons of new cloud software tools. In their haste to sign up for new subscriptions and licenses to apps like Zoom or Notion, they didn't always take the time to consider how those monthly per-user bills could add up."Executives are in a fog of war around demand visibility and don't want to be first to walk the conservatism plank," Alex Zukin, an analyst at Wolfe Research wrote in a recent note to clients. "Software buyers are scared, not just because they have less budget, but because they may not have a job."Analysts also said it's hard to predict how much spending will dip given that cloud as a whole is relatively new, having only emerged during the Great Recession. They do agree that basic cloud infrastructure spending will remain mostly the same, given that it's a necessity. However, add-ons and cloud software tools that aren't "mission critical" <a href="https://www.businessinsider.com/cloud-software-firms-takeover-targets-acquisitions-rbc-analysts-2022-10">will see cuts</a>. "Not all cloud infra spend is mission critical," Bernstein analysts wrote. "Here we're seeing companies downgrade, audit licenses, and effectively 'right size' their cloud infra plans - Amazon is proactively working with their clients." That also means companies' plans to migrate to the cloud will slow down in the next few months, analysts at Bernstein and RBC said. "Companies are increasingly focusing on rationalizing cloud costs and reducing spend on specific vendors," RBC analysts wrote. For the big cloud infrastructure vendors, that means more customers will adopt a multi-cloud strategy to lower costs, they wrote. For software vendors, any company that's offering <a href="https://www.businessinsider.com/cloud-technology-trend-software-enterprise-2021-2">a single tool versus a platform is likely to see cuts,</a> RBC said. However, Salesforce's recent layoffs are a sign that even platforms may not be considered as mission-critical as they were a year ago. Ultimately, analysts said companies are bracing themselves for a bad start to 2023. RBC analysts are expecting more layoffs ahead. They also say it's challenging to fully predict things given that many companies haven't given guidance for the year ahead. "With Q3 earnings season in the rear-view mirror, investors are still questioning what next year looks like and with only a handful of companies guiding to next year, 2023 is largely an unknown," RBC analysts wrote.Got a tip or thoughts about the cloud sector? Contact this reporter via email at <a href="mailto:pzaveri@businessinsider.com">pzaveri@insider.com</a> or Signal at 925-364-4258. (PR pitches by email only, please.)

Salesforce's massive layoffs are a sign for Silicon Valley that the worst is yet to come

<ul><li>The demand for professionals trained in digital technologies was mostly seen in metro cities like Bengaluru, Hyderabad, Pune and Chennai, according to a report by Quess IT Staffing.</li><li>As companies are now expanding their footprint in tier 2 and 3 cities, these cities have also seen a spurt in demand for people with <keyword id="1458566" type="General" weightage="20" keywordseo="digital-skills" source="Orion">digital skills</keyword>.</li><li>Products, automotive and engineering, BFSI, telecom, and consulting are the top five industries which saw the most demand for these digital skills.</li></ul>As the world is rapidly evolving around digital technologies, the demand for skilled talent continues to rise across industries in India. This demand is mostly seen in the metro cities of Bengaluru, Hyderabad, Pune and Chennai between April and June 2022, according to a report by Quess IT Staffing. India’s tech industry added 4,50,000 jobs in FY22 and recorded a revenue growth of $30 billion. Hyderabad, among all metro cities in India, was the top recruiter of these IT professionals, the report said. After Hyderabad, other metros like Bengaluru (33%), Mumbai (12%), Pune (9%) and Chennai (5%) hired the most number of IT digital talent. Digital skills like <keyword id="771372" type="General" weightage="20" keywordseo="data-analytics" source="Orion">data analytics</keyword>, Java technologies, cloud infra technologies, full-stack technologies, and UI and UX were the top digital skills that were in demand during the period, the report added. “India’s massive digital infrastructure played a key role in driving the country’s tech adoption, with public digital platforms becoming the bedrock of India’s digital advantage. This led to a spike in digital talent hiring and activities undertaken by companies around skilling soared,” said the report. With companies expanding their footprint in tier 2 and 3 cities, hiring for IT professionals also saw a concurrent spurt in cities like Ahmedabad, Kolkata, Bhubaneshwar and Jaipur, besides NCR. “While there are seeming headwinds in the tech hiring market, certain skills continue to be high in demand such as full-stack roles and data analytics roles,” said Vijay Sivaram, CEO at Quess IT Staffing. Growing adoption of digital applications has resulted in a huge surge in the need for digital talent across sectors. The report reveals that products, automotive and engineering, BFSI, telecom, and consulting are the top five industries which saw the most demand for these digital skills. “As organizations continue in their digital and cloud transformation journeys, we are witnessing a hiring uptick in the same. Startup hiring is in moderation. However, on the other hand, India continues to see growth in captives, particularly in tech and R&amp;D,” Sivaram added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/freebies-home-visits-campaigns-and-free-jabs-for-covid-booster-dose-from-many-states/articleshow/93269529.cms">Freebies, home visits, campaigns and free jabs — this is how states are encouraging people to get their booster dose</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mumbais-real-estate-sector-registers-its-best-july-in-a-decade-even-as-home-loan-interest-rates-rise/articleshow/93272015.cms">Mumbai’s real estate sector registers its best July in a decade even as home loan interest rates rise</a>

Bengaluru, Hyderabad and Chennai hired the most number of IT digital skill experts

<ul><li>The demand from clients to migrate to cloud servers and to implement digital transformation has been strong.</li><li>From Sony Liv to London banks, the Tata Group company has signed on many new clients in the three months ending September.</li><li>TCS will be the first among IT companies to release September quarter earnings on October 8.</li><li>Check out the latest news and updates on Business Insider.</li></ul>Tata Consultancy Services (TCS) is expected to kick off the earnings seasons with strong growth numbers. The fact it signed as many as 14 new deals in the last three months ending September is a sign that the demand for digital transformation and migration to cloud services remains strong. Most analysts expect around 5% revenue growth in the Jul-Sep quarter compared to the preceding three months. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue forecast by brokerages </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% QoQ growth </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Emkay Global </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.50% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.7% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Phillip Capital </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HSBC </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.1% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Analysts at Goldman Sachs expect the trend in migration to cloud services will continue for at least 3-5 years more. A Phillips Capital report said that the strong momentum in client spending will convert strong bookings to revenue. The 14 new deals signed on TCS is more than any of its peers including Infosys, Tech Mahindra and HCL Technologies. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Client name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vertical </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Royal London </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">John Wiley &amp; Sons </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication &amp; media </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SonyLIV </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication &amp; media </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Converge ICT Solutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication &amp; media </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dutch Open </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication &amp; media </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neptune Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Energy &amp; utility </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wabtec </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rich Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Standard Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avianca </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Travel &amp; transportation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Transport for London </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Travel &amp; transportation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NXP Semiconductors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NORD/LB </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apoteket </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Healthcare &amp; pharma </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> However, the Indian IT services behemoth’s stock has not performed well in the last one month as shares of the company have fallen 2.54%. Most of the brokerages expect the company’s stock to cross the ₹4,000 mark or even more. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Emkay Global </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3,700 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4,080 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3,790 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4,578 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Phillip Capital </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4,580 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HSBC </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4,145 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/whatsapp-instagram-and-facebook-are-down/articleshow/86759457.cms">Facebook shareholders lost nearly $50 billion in the 9 hours that the social network, WhatsApp and Instagram were down</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-srei-infra-ongc-airtel-and-other-stocks-to-watch-out-for-as-markets-tumble-across-the-world/slidelist/86771522.cms">HDFC Bank, SREI Infra, ONGC, Airtel and other stocks to watch out for as markets tumble across the world</a>

TCS earnings may excite the street thanks to the 14 new deals in last three months

<ul><li>At 7:40 am, the SGX Nifty was down 0.19%, indicating a subdued start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open flat on Friday, led by mixed cues from the global peers. At 7:40 am, the SGX Nifty was down 0.19%, indicating a subdued start for Nifty50. However, on Thursday, the US stocks ended in positive territory as fresh stimulus hopes buoyed investor sentiment towards the end of a session. The Dow Jones Industrial Average closed 45 points higher, and the S&amp;P 500 was up 0.39%. These are the stocks to watch out for during the trading session today: Reliance Industries Billionaire Mukesh Ambani's Reliance Industries said it had completed the sale of about 10% stake in its retail unit to a clutch of foreign investors for ₹47,265 crore. Since September 25, the company has sold 10.09% stake in Reliance Retail Ventures (RRVL) to private equity firms Silver Lake Partners, KKR, GIC, TPG and General Atlantic, as well as sovereign wealth funds, Mubadala, ADIA and PIF. The shares of Reliance Industries ended 0.76% lower on Thursday. Vodafone-Idea Post the completion of the much-delayed merger of Bharti Infratel and Indus Towers on Thursday, Vodafone Idea (VIL) received cash consideration of ₹3,760.1 crore for its 11.15% shareholding in Indus. The shares of Vodafone-Idea ended flat on Thursday. Infosys The Infosys subsidiary, Simplus has collaborated with Salesforce for a vaccine management cloud solution. The solution has been built on the Salesforce Platform in support of Salesforce Work.com for Vaccines as the COVID-19 pandemic continues. The shares of Infosys ended 1.22% lower on Thursday. Mphasis IT firm Mphasis subsidiary, Mphasis Consulting, has acquired UK-based Datalytyx for up to £13.3 million (about ₹130.4 crore). The acquisition is expected to provide access to strengthen Mphasis next-generation Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based data services, a regulatory filing said. The shares of Mphasis ended 0.50% lower on Thursday. Syngene International Syngene International announced that it had signed an agreement with Deerfield Discovery and Development Corporation (3DC) to collaborate for five years to advance therapeutic discovery projects. The shares of Syngene International ended 0.86% lower on Thursday. Muthoot Finance and Manappuram Finance The Reserve Bank of India (RBI) imposed penalties of ₹10 lakh and ₹5 lakh on Muthoot Finance and Manappuram Finance respectively for norm violations. The central bank has penalised Muthoot Finance for non-compliance with directions issued by RBI on maintenance of loan-to-value ratio in gold loans and on obtaining a copy of PAN card of the borrower while granting gold loans in excess of ₹5 lakh, contravening RBI norms. Manappuram Finance has been fined for non-compliance with directions issued by RBI on verification of ownership of gold jewellery The shares of Muthoot Finance ended 1% lower on Thursday, whereas Manappuram Finance lost nearly 2%. South Indian Bank South Indian Bank announced that the Marginal Cost of Funds Based Lending Rates (MCLR) for multiple tenors had been revised from November 20. One-month MCLR at 7.95% and one-year MCLR at 8.2%. The shares of South Indian Bank ended 4.14% lower on Thursday. Aarti Industries HDFC Mutual Fund reduced its stake in Aarti Industries from 7.08% to 5.08% on November 17. The shares of Aarti Industries ended 0.31% higher on Thursday. Apollo Hospitals Apollo Hospitals and Tata Medical and Diagnostics (TataMD) have collaborated to introduce TataMD CHECK diagnostic test (Feluda) for COVID-19 in India. Apollo Hospitals along with its subsidiary Apollo Diagnostics will offer the Tata MD CHECK testing in the national capital region (NCR) from the first week of December and thereafter it will be rolled out across all major metros in the country. The shares of Apollo Hospitals ended 0.84% higher on Thursday. Emami The Indian FMCG major Emami forayed into the homecare segment with its latest offering - EMASOL - a complete range for home hygiene products. The shares of Emami ended 0.42% lower on Thursday. Route Mobile Route Mobile announced that the chairman and non-executive director of the company, Chandrakant Gupta has resigned from the position of chairmanship of the board. Sandip Kumar Gupta will replace Chandrakant Gupta as the chairman of Route Mobile. The shares of Route Mobile ended 2% higher on Thursday. Zee Learn L&amp;T Infra Finance has increased its stake by 1.26 crore shares via off-market transfer from security trustee &amp; appropriated against outstanding loan amounts on November 18. L&amp;T Finance and L&amp;T Infra Finance now hold nearly 7% stake in the company. The shares of Zee Learn ended 1% lower on Thursday. Gland Pharma Gland Pharma stocks to debut on the bourses today. SEE ALSO: <a href="https://www.businessinsider.in/policy/foreign-policy/news/the-first-meeting-between-india-and-luxembourg-in-20-years-results-in-three-new-bilateral-agreements/articleshow/79305642.cms" data-type="tilCustomLink">The first meeting between India and Luxembourg in 20 years results in three new bilateral agreements</a> <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-shares-demand-is-rising-in-the-grey-market-ahead-of-its-listing-tomorrow/articleshow/79302810.cms" data-type="tilCustomLink">Gland Pharma’s grey market premium rises ahead of listing today</a>

Top stocks to watch — RIL, Infosys, Vodafone-Idea, Apollo Hospitals, Emami, Route Mobile, Syngene, and others

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Chesnot/Getty ImagesMicrosoft CEO Satya Nadella.</div></div></div><ul class="summary-list"><li>Microsoft CEO Satya Nadella revealed the technologies the company plans to invest in going forward.</li><li>The company will continue to advance its apps and infrastructure business, prioritize growing in data and AI, as well as compete in new areas in which Nadella said he sees as long-term growth opportunities such as security and compliance, and workflow cloud.</li><li>Chief Financial Officer Amy Hood revealed on the call the company's Azure cloud computing business had "material growth" in $10 million-plus contracts.</li><li>Nadella said Azure AI now has 20,000 customers and more than 85 percent of Fortune 100 companies have used Azure AI in the past 12 months.</li><li>Hood, Microsoft's CFO, said the company has set up a multiyear plan to invest in areas including security, compliance, communication, workflow and business process reinvention.</li><li>Microsoft is valued at more than $1 trillion.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymarymary">Click here for more BI Prime stories</a></li></ul>Microsoft is one of the few companies in history to fetch a $1 trillion valuation. But Satya Nadella, the CEO who led Microsoft to this astronomical milestone, says he sees plenty of opportunities for new ways to grow the business."What's next?" he said on an investor call after Microsoft <a href="https://www.businessinsider.com/microsoft-reports-fiscal-q1-earnings-revenue-results-2019-10">reported first-quarter fiscal earnings</a> on Wednesday, "What's next for us is in the apps and infra(structure) to go the first inning to the second inning. For data and (artificial intelligence), to start the first innings."Microsoft, once known primarily as the maker of the software on people's desktop and laptop PCs, is now competing against a much wider range of foes in cutting edge businesses like artificial intelligence and cybersecurity.Growth in Microsoft's Azure cloud business consistently drives strong financial results for Microsoft, and it's a key strategic area for the company as it competes with cross-town giant Amazon and its market-leading AWS cloud business.Azure AI now has 20,000 customers and more than 85 percent of Fortune 100 companies have used Azure AI in the past 12 months, Nadella said. "The quintessential characteristic of every application going forward will be AI and we have the most comprehensive portfolio of AI tools, infrastructure and services," he said.The overall commercial cloud business, which includes Azure plus Office 365 and other cloud services, was up 36 percent year over year to $11.6 billion for the quarter. And Chief Financial Officer Amy Hood said on the call that the company's Azure cloud computing business had "material growth" in $10 million-plus contracts, though she stopped short of sharing additional details.But Nadella seemed most excited about new areas of focus that he sees as long-term growth opportunities. <h2>"We built something that didn't even exist a few years ago"</h2>"When it comes to security and compliance, we never participated in this. Guess what? We get to participate now in a fairly competitive way now," he said. "We built something that didn't even exist a few years ago, which is the workflow cloud. That's a huge opportunity for us."The workflow cloud is an apparent reference to Microsoft Flow, which helps customers automate tasks by combining applications.Nadella said the company has a "very competitive and growing footprint" in business applications, "even when you think about something like Microsoft 365, we never participated in spite of our past success with all the first-line work and now we get ot participate in it," he said.Hood, Microsoft's CFO, said the company has set up a multiyear plan to invest in areas including security, compliance, communication, workflow and business process reinvention."For us, it has been so important to remain focused on where growth and opportunity exist and to invest in those areas that are large, expansive and durable," she said.Microsoft on Wednesday <a href="https://www.businessinsider.com/microsoft-reports-fiscal-q1-earnings-revenue-results-2019-10">reported $10.7 billion in profit on revenue of $33.1 billion</a> in the company's fiscal first quarter, beating Wall Street estimates. Despite strong results, Microsoft stock remained mostly unchanged in after-hours trading, hovering around $137 per share at the time of this writing. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/watch-google-pixel-4-event-in-12-minutes-2019-10">Watch Google's Pixel 4 event in 12 minutes</a></h3> <div> </div> </div>

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