The cloud industry faced significant challenges in 2023, with rising costs and security concerns being major issues. The growing demand for Gen AI is driving innovation and investment in the cloud, but also raises environmental concerns. As a result, companies are reevaluating their cloud strategies, considering factors such as cost management and preparedness before migrating to the cloud. With increasing spending on Gen AI, companies are looking at new avenues for growth, while also grappling with waste and inefficiency in their current cloud usage.