Transforming SME Cloud Cost Management with Artificial Intelligence

Authors

  • Sai Kiran Reddy Malikireddy   Independent Researcher, USA

DOI:

https://doi.org/10.32628/IJSRST1229422

Keywords:

AI-driven cloud management, optimizing cloud expenses for SMEs, Intelligent resource allocation, Real-time cloud cost monitoring, Artificial Intelligence for cost efficiency, Cloud strategies for small businesses, Automating cloud workflows, Cost control in multi-cloud environments, Predictive analytics for cloud costs, Future trends in cloud optimization.

Abstract

Cloud computing solutions are essential for the growth of SMEs because they offer unparalleled flexibility, scalability, and opportunity to develop new solutions, mainly with no major investment required. However, managing cloud costs is a significant issue for ILC, which leads to expenses and inefficiencies in resource use. This paper focuses on understanding how AI is making changes to cloud cost management for SMEs. The incorporation of artificial intelligence is in a position to enable organizations to control resources by making future projections of resource requirements, determining optimal resource activation, and making real-time determinations on potentially problematical conditions while using cloud services with greater efficiency. Here, we describe recommendations on how AI applications could be implemented into current and future work processes while stressing the need to incorporate such technologies to achieve organizational goals properly. Furthermore, the paper also presents an idea of the conventional problems that SMEs encounter, such as technical problems, financial problems, and lack of knowledge, and how to mitigate these problems. Lastly, future possibilities for AI-driven cost optimization techniques, including integrated predictive analysis, self-executed cloud operations, and improvements in security measures, are also presented. Being an all-inclusive guide, the information this strategic map provides will help SMEs determine the best strategies to get the most out of their cloud investment. Hence, proper utilization of AI can enable firms to obtain the best value for the available resources and avoid avoidable expenses while at the same time keeping up with the incessant innovations in the current digital economy. It is important to help SMEs move towards the right cloud approach that will sustainably support business growth and innovation in the long run.

References

  1. Buckland, H., & Murillo, D. (2013a). Vías hacia el cambio sistémico. Instituto de Innovación Social (Esade). Retrieved October 14, 2017, from http://itemsweb.esade.es/wi/research/iis/publicacions/2013-04_Antenna-cast.pdf
  2. Buckland, H., & Murillo, D. (2013b). La Innovación Social en América Latina: Marco conceptual y agentes. Instituto de Innovación Social (Esade). Retrieved October 18, 2017, from https://www.slideshare.net/ESADE/informe-la-innovacinsocial-en-amrica-latina-45162162
  3. Buckland, H., & Murillo, D. (2015). The Quest for Precision: Antenna for Social Innovation. Instituto de Innovación Social (Esade).
  4. Bureau van Dijk. (2018). Osiris [Data file]. Retrieved from https://www.bvdinfo.com/en-gb/our-products/data/international/osiris
  5. Burgueño, P. (2009). Clasificación de redes sociales. Retrieved from http://www.pabloburgueno.com/2009/03/clasificacion-de-redes-sociales
  6. Burmeister, C., Lüttgens, D., & Piller, F. T. (2015). Business model innovation for Industrie 4.0: Why the industrial internet mandates a new perspective on innovation. n.p., 1–31.
  7. Byoun, S., Chang, K., & Kim, Y. S. (2016). Does corporate board diversity affect corporate payout policy? Asia-Pacific Journal of Financial Studies, 45(1), 48–101. https://doi.org/10.1111/ajfs.12119
  8. Cabra, F., & Marciales, G. (2009). Nativos digitales: ¿Ocultamiento de factores generadores de fracaso escolar? Iberoamerican Journal of Education, 50, 113–130.
  9. Cabrera, L., Bethencourt, J. T., Álvarez, P., & González, M. (2006). El problema del abandono de los estudios universitarios. Relieve, 12(2), 105–127.
  10. Calvo, P. (2014). Business ethics, social responsibility, and communicative goods [Ética empresarial, responsabilidad social y bienes comunicativos]. Tópicos: Revista de Filosofía, 47, 199–232.
  11. Capdevila, I. (2014). Coworking spaces and the localized dynamics of innovation: The case of Barcelona. International Journal of Innovation Management, 19(3), Article 1540004. https://doi.org/10.1142/S1363919615400046
  12. Carayannis, E. G., & Campbell, D. F. J. (2009). “Mode 3” and “Quadruple Helix”: Toward a 21st century fractal innovation ecosystem. International Journal of Technology Management, 46(3–4), 201–234. https://doi.org/10.1504/IJTM.2009.023374
  13. Carboni, O. A., & Medda, G. (2018). R&D, export, and investment decisions: Evidence from European firms. Applied Economics, 50(2), 187–201. https://doi.org/10.1080/00036846.2017.1332747
  14. Dacin, P. A., Dacin, M. T., & Matear, M. (2010). Social entrepreneurship: Why we don’t need a new theory and how we move forward from here. The Academy of Management Perspectives, 24(3), 37–57.
  15. Damkaci, F., Braun, T. F., & Gublo, K. (2017). Peer mentor program for the general chemistry laboratory designed to improve undergraduate STEM retention. Journal of Chemical Education, 94(12), 1873–1880. https://doi.org/10.1021/acs.jchemed.7b00340
  16. Reinsel, D., Gantz, J., & Rydning, J. (2017). Data Age 2025: The evolution of data to life-critical. Seagate. Retrieved from https://www.seagate.com/files/www-content/our-story/trends/files/Seagate-WP-DataAge2025-March-2017.pdf
  17. David, B. (2017). Computer technology and probable job destructions in Japan: An evaluation. Journal of the Japanese and International Economies, 43, 77–87. https://doi.org/10.1016/j.jjie.2017.01.001
  18. Davidson, R. (Ed.). (2012). The psychobiology of consciousness. Springer Science and Business Media.
  19. Davies, R. (2015). Industry 4.0: Digitalisation for productivity and growth. European Parliamentary Research Service, Briefing.
  20. Davies, A., Fidler, D., & Gorbis, M. (2011). Future work skills 2020. Palo Alto, CA: Institute for the Future, University of Phoenix Research Institute.
  21. Davis, J. A., Marino, L. D., Aaron, J. R., & Tolbert, C. L. (2011). An examination of entrepreneurial orientation, environmental scanning, and market strategies of nonprofit and for-profit nursing home administrators. Nonprofit and Voluntary Sector Quarterly, 40(1), 197–211. https://doi.org/10.1177/0899764009351112
  22. Davis, K. (1960). Can business afford to ignore social responsibilities? California Management Review, 11(3), 70–76. https://doi.org/10.2307/41166246
  23. Davis, K. (1967). Understanding the social responsibility puzzle: What does the businessman owe to society? Business Horizons, 10(4), 45–50. https://doi.org/10.1016/0007-6813(67)90007-9
  24. Davos Economic Forum. (2016). El futuro del empleo. ManpowerGroup. Business & Talent Paper #1. Retrieved June 13, 2016, from https://drive.google.com/file/d/0BwktW2X_nhxqeGxUc0plTkxRdTg/view
  25. de Boer, J. (2015). The business case of FryskLab, Europe’s first mobile library FabLab. Library Hi Tech, 33(4), 505–518. https://doi.org/10.1108/LHT-06-2015-0059
  26. de la Mata, G. (2018a). Manual de la innovación social: De la idea al proyecto. Retrieved December 10, 2017, from http://innovationforsocialchange.org/buy-ebooks/
  27. Erol, S., Schumacher, A., & Sihn, W. (2016). Strategic guidance towards Industry 4.0: A three-stage process model. International Conference on Competitive Manufacturing.
  28. Ersin, İ., & Eti, S. (2017). Measuring the waste-conscious and saving habits of the youth in Turkey: The sample of Istanbul Medipol University. International Journal of Islamic Economics and Finance Studies, 3(3), 41–49.
  29. Esteban, V. A., Villardón, M. P. G., & Sánchez, I. M. G. (2017). Cultural values on CSR patterns and evolution: A study from the biplot representation. Ecological Indicators, 81, 18–29. https://doi.org/10.1016/j.ecolind.2017.05.051
  30. European Network of Living Labs. (2006). Retrieved January 12, 2018, from http://www.openlivinglabs.eu/
  31. European Social Innovation Research. (2013). Measuring and mapping social innovation: About the discussion. Retrieved November 16, 2017, from https://www.socialinnovationexchange.org/insights/measuring-and-mapping-socialinnovation-about-discussion
  32. EY. (2017). EY FinTech adoption index 2017. Retrieved June 30, 2018, from https://www.ey.com/Publication/vwLUAssets/ey-fintech-adoption-index-2017/$FILE/ey-fintech-adoption-index-2017.pdf
  33. Eychenne, F. (2012). FabLabs overview. The Fing (Fondation Internet Nouvelle Generation). Retrieved from http://fing.org/?Fab-Labs-overview
  34. Eychenne, F. (2015). Simone Amber: “FabLab Connect produces collaboration between labs.” Retrieved from http://www.makery.info/en/2015/03/09/simone-amber-fab-lab-connect-produit-de-la-collaboration-entre-labs

International Journal of Scientific Research in Science and Technology

Downloads

Published

2020-05-30

Issue

Volume 7, Issue 3, May-June-2020

Section

Research Articles

License

Copyright (c) IJSRST

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

[1]
Sai Kiran Reddy Malikireddy "Transforming SME Cloud Cost Management with Artificial Intelligence" International Journal of Scientific Research in Science and Technology(IJSRST), Online ISSN : 2395-602X, Print ISSN : 2395-6011,Volume 7, Issue 3, pp.520-542, May-June-2020. Available at doi : https://doi.org/10.32628/IJSRST1229422