VUCA. It’s an oft-used phrase that applies now more than ever. Volatile, uncertain, complex, and ambiguous are certainly not overstatements in today’s swiftly changing economy. Yet, despite declines in global IT spending, investment in cloud services is surging, as companies shift more business applications online to cope with extended COVID-19 lockdowns, social distancing, and other restrictions. Companies worldwide spent a record $34.6 billion on cloud services in the second quarter this year, up roughly 11% from the previous quarter and 30% from the same period last year, according to research firm Canalys.
