That could lead to an explosion of novel applications, similar to the online car sales and recruitment business that are moving into Africa thanks to cloud computing.
A new generation of "cognitive" systems, built for big data, can keep up with the flood because they aren't programmed, they learn from their own experience and from our interactions with them".Cognitive systems can scrutinise structured information, such as databases, and unstructured information such as medical imaging and social media content, much faster thanks to cloud computing.
These were once prohibitively expensive, but thanks to cheaper computing costs, better software and Internet-based communications (technically, the systems are close to voice over IP phones) they have become cheaper and more reliable.
The bet seems to be that the flood of computing everywhere, thanks to cloud computing and cloud-connected devices, will soon force those customers to buy more computers to keep up with the world.
And thanks to cloud computing, which allows all sorts of computing services to be delivered via the internet, they can use these devices and applications pretty much wherever they like, including in offices and factories.
And thanks to cloud computing, small business owners can benefit from a more flexible workforce.
The cost of starting a firm is plunging thanks to cloud computing and other innovations.
Areas like leasing, mortgages and project finance have exploded – as has the entire financial derivatives market — thanks to cheap computing.
Today, because companies can be formed cheaply thanks to cloud computing and mobile communications, he said, "I think we'll see a new surge of entrepreneurs".
