He was moderating a panel discussion for the media at CloudSec 2012.

Other participants at the discussion were Timothy Grance, senior computer scientist, National Institute of Standards and Technology (NIST); Jim Reavis, co-founder & executive director, Cloud Security Alliance, and Nicholas Tan, country manager, Singapore, VMware.

Citing research, Dave said that the cloud will create US$1.1 billion in new revenues every year. This sector will create 14 million jobs between 2011 and 2015 across all businesses-from small & medium businesses to large businesses. One third of these jobs will be in four industries: communications, media, banking and manufacturing.

He also said that cloud will drive jobs in the Asia Pacific region during this period (2012-2015). Cloud-related job growth will be 155 percent in Japan, 129 percent in Australia, 109 percent in Singapore, 107 percent in Malaysia, 103 percent in Indonesia and 99 percent in India.

However, he noted, the adoption of cloud computing in the region is slower than expected. "Singapore manufacturing has the least affinity for cloud," he said. But the good news is that, he added, Singapore government and financial services lead cloud adoption in the country. "Overall, rate of growth is still relatively low."