The global cloud computing market will be worth $1.4trn in 2027. Credit: Krisztian Bocsi/Bloomberg via Getty Images.

Google Cloud and enterprise management cloud company Workday have announced an extended partnership to implement new GenAI capabilities.

Workday will use Gemini models and Vertex AI to “optimise customers’ business performance, generate powerful business insights, and expedite transaction and closing processes”, Google said. 

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The tools will “provide developers with AI-powered code generation, troubleshooting and information retrieval to increase the quality and speed of deploying apps on top of the Workday platform”.

Workday launched its Workday AI Marketplace in 2023, which it said will help its enterprise customers find and deploy AI solutions. 

The company said customers can now use Google’s GenAI tools for fast-changing business needs such as rapidly developing new purchase requisition workflows or new-hire onboarding experiences.

“Enterprises depend on Workday to manage millions of documents and power critical finance and HR functions,” said Stephen Orban, VP of migrations, ISVs and marketplace at Google Cloud. 

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“Google Cloud’s GenAI can help these organisations more efficiently search, analyse and retrieve information from the Workday platform, including code generation that expedites the development of new applications,” Orban added. 

The global cloud computing market will be worth $1.4trn in 2027, having grown at a compound annual growth rate (CAGR) of 17.1% from $638.6bn in 2022, according to GlobalData forecasts.

GlobalData predicts that the overall AI market will be worth $909bn by 2030, having grown at a CAGR of 35% between 2022 and 2030.

In the GenAI space, revenues are expected to grow from $1.8bn in 2022 to $33bn in 2027, a CAGR of 80%.