Cloud computing "unstoppable", says Goldman Sachs

The latest technology software report from investment bank Goldman Sachs confirms what many industry experts have seen as an unstoppable shift towards on-demand IT services and cloud applications, with small businesses leading the charge, it has been reported.

According to the report published by Cnet and emailed to its subscribers last week, the economic downturn has led to a major uptake of cloud computing and business management software adoption, with customers forced into lower-cost solutions for day-to-day business problems.

A further 40 per cent of survey respondents explained that they would be more likely to use cloud computing solutions in a slower economy because of the cost benefits they see, while four per cent said they would be even less likely to turn to the emerging technology.

Goldman Sachs has recently been accused by many media outlets of aiding Greece in hiding its national debts, with claims that £192 million in fees was taken in a currency transaction in 2001 that allowed Athens to borrow cash without putting any of it on the books as a loan.

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