Lucas Mearian has written a News Analysis in Computer World: Wall Street not bullish on cloud computing
From the title, it is perhaps clear to you that Wall Street financial firms are not yet that much excited about the concept of cloud computing despite the fact that going cloud may decrease expense and increase efficiency. After all, financial firms are for profit and they care for earning money just like any company. Still, according to Lucas, there are two problems.
The first problem is the fear of data security. After all, in Wall Street, information is very crucial and profits are earned and lost depending on what kind of information you have. Thus, top executives are still hesitant about the privacy of their data. They are not fully confident whether their data would really be 100% safe in the cloud. This is surely a valid concern and it is upto the cloud service providers to assure these financial companies in this regard.
The second problem is that the regulators are not showing their full approval about cloud computing. This is another big challenge for the service providers.
Of course, sooner or later, most of the companies would wish to move to the cloud when they will notice that this shift in technology can not only save a lot of money for them but also save a lot of hassle too.
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