Google (GOOG) Sees Artificial Intelligence, Analytics Driving Opportunity In Cloud Business

Chief financial officer of Alphabet Inc. Ruth Porat said on Tuesday that artificial intelligence (AI) and data analytics will drive opportunities in Google's cloud business.

In an interview at the Qatar Economic Forum Ruth Porat affirmed that the company is excited about the new development in the cloud business and the new expertise in the company to focus on very industry-specific solutions.

“What we’re really excited about is the investments and opportunity in our cloud business,”

“Our cloud business really is benefiting from extraordinary data analytics, the AI behind that, and then we’ve brought in talents to focus on very industry-specific solutions.”

Porat noted how Google’s cloud business has prioritised targeting financial services and retail to win more business, after being asked what differentiates the company from its competitors such as Microsoft Corp. and Amazon Inc.

When asked if the government’s stance over Google parent Alphabet Inc’s antitrust case has changed after President Joe Biden took office, Porat said: “I think overall there is a focus on any of the businesses that continue to do really well here”

“Our view is we want to be very engaged to make sure we’re working closely with regulators to address any of the questions and issues that they may have. Believe in national privacy legislation in the U.S.”

Alphabet continues “to up what we’re doing around issues like privacy, same with security”

“There are plenty of areas where you will continue to see us upping what we’re doing because we’re trying to make sure we’re delivering for users, for communities, for governments”

The company is “well on our way to powering 100% of our data centers with renewable energy by 2030”

Digital trends formed throughout the pandemic “will continue to endure”

“I think it’s really important for each one of us to consider how we can embrace digital tools and technology to support both revenue opportunities and efficiencies in our own business”, Bloomberg first reported.