Cloud-related services are now by far Microsoft’s biggest source of revenue
. In its quarterly results last week, cloud revenue jumped 22% to reach $28.5bn — an annualised run rate of more than $100bn! Soon, almost all Microsoft’s revenues will be cloud-related in some way. Even Windows is now available on demand as a service to be “streamed”. It’s the “everything as a service” model, and it’s changing the way the world consumes IT.
What’s next? It’s early days, but Microsoft has identified artificial intelligence as potentially the next big pivot it’s going to have to make — and it’s wasting no time integrating AI into everything from Office to its Bing search engine. A perennially distant second player in web search behind Google, Microsoft sees AI chat tools as a way of enticing people to switch to Bing. Defeating Google in search remains unlikely, but generative AI tools integrated into Teams, Outlook, Word and Visual Studio could help spur productivity gains worldwide ... and ensure Microsoft sells even more software subscriptions.
Microsoft won’t be caught flat-footed under Nadella as it was under Gates when the web took off in the 1990s. Nadella was pouring money into OpenAI, the developer of ChatGPT, before the AI hype even began. That augurs well for a company that is clearly more determined than ever to avoid the “Kodak moment” that has befallen so many of its peers over the years.
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