What does the future of cloud computing look like? Nvidia, one of the leading companies producing graphics and computer processors, said revenue from cloud computing will hit $1 billion in about three years, according to a recent report from Reuters. The company's CEO, Jen-Hsun Huang told reporters in late May cloud computing is the fastest growing part of Nvidia. While the company does not offer a cloud model, it develops the chips needed for the service.

Specifically, Nvidia's graphics processing units allow video games to be played over the Internet as well as enable users to access information from popular smartphone voice assistant programs. According to ZDNet contributor Charlie Osborne, enterprises are increasing the demand for GPUs because they are running more data-heavy operations in the cloud, such as analyzing big data. A 2014 infographic from the New Jersey Institute of Technology provides some context on just how much data there is. Ninety percent of the world's data has been created in the last two years, with 66 percent of data residing in the cloud. By 2017, personal cloud traffic is projected to reach 20 exabytes.

The cloud is instrumental in helping large organizations with big data because the information needs to be stored somewhere. Companies have shied away from building data centers because of rising costs and have instead turned to the cloud and infrastructure-as-a-service models to help. The IaaS model is particularly helpful because it helps enterprises develop and implement the software and database methods to handle big data. Best of all is the scalability; more storage is easily attainable to handle the ever-growing large volumes of data.

Application development rising
Enterprises are shifting resources to one area in particular: application development, according to Cowen and Company's Mid-Year 2015 IT Spending Survey, as cited by Forbes contributor Louis Columbus.Organizations may prefer to use in-house services, or may simply want to build software to analyze data sets. App development, like big data, has seen a shift toward cloud computing, because, again, the scalability is unrivaled. The New Jersey Institute of Technology study also revealed app development within the cloud is growing by 50 percent.

This allows developers to work faster and not have to wait for hardware upgrades, for example. A cloud service also enables greater and easier collaboration internally to increase efficiency and reduce costs. Paychex cited security as another benefit for moving and developing apps in the cloud. 

Agile trumps costs
According to CIO contributor Kenneth Corbin, enterprises and other organizations should not only care about cost savings when implementing cloud services. He said other benefits of cloud computing, such as app development, may be overshadowed from only focusing on a narrow area.

However, one may ask why agile development is important. Look no further than the Agile Manifesto, created in 2001 when 17 software developers met to talk about development methods. The manifesto is comprised of 12 points. The first point is, "Our highest priority is to satisfy the customer through early and continuous delivery of valuable software."

Other points in the manifesto touch on frequent updates, and how an agile workflow can "promote sustainable development." For example, the cloud enables software developers to quickly respond to issues by pushing updates faster. Also, because of the ability easily rent out more virtual servers, developers may rent space out to specifically perform tests before public or internal release.

Keep in mind that in 2001, cloud computing was still a relatively new concept and yet the ideals put forth 14 years ago still apply. Companies that are quick to create and update software will become leaders in their respective sectors while those who are slower will fade away. 

"For CIOs the message is clear: Shift into the driver's seat, or others will," the Forrester 2015-2015 U.S. Tech Market Outlook report said.

The cloud is helping enterprises and different companies retain customers because services can be updated faster. This applies to just about everything, from smartphone apps to software used on an internal basis.

For the long-term future, organizations should expect cloud computing to become a dominant aspect of business operations.