S&P Global enters into a new multi-year strategic collaboration agreement with Amazon By CIOTechOutlook Team

S&P Global enters into a new multi-year strategic collaboration agreement with Amazon

CIOTechOutlook Team | Thursday, 09 February 2023, 03:16 IST

Amazon Web Services (AWS), a division of Amazon Inc. (NASDAQ: AMZN), and S&P Global have announced a new multi-year strategic collaboration arrangement. S&P Global will improve its cloud infrastructure, boost business growth, create new ideas for important industry segments, and assist their clients in navigating quickly shifting market conditions by choosing AWS as its preferred cloud provider.

The new strategic partnership between AWS and S&P Global builds on their long-standing partnership and will enable the delivery of advanced, secure, cloud-based services to more than 100,000 of S&P Global's government and enterprise customers across 43 countries, further increasing the 65% of application workloads that are already run on AWS. As part of the partnership, S&P Global will also transfer its Capital IQ platform and the remaining key data platforms to AWS by 2025, as well as create new capabilities that let its clients assess risk and growth prospects for their businesses.

With the new partnership, S&P Global will be able to access world-class cloud infrastructure across all of its divisions, enhancing data and product availability while boosting efficiency and productivity for its staff members and clients all around the world. Companies can address more complex challenges, react more quickly to market opportunities, and streamline corporate operations with the data and insights provided by S&P Global. In order to deliver new advanced analytics and insights across a range of sectors, including climate, sustainability, energy transition, and private markets data, S&P Global will combine disparate data sets and products. This will help their customers find new, more environmentally friendly ways to conduct business.

"This transformative collaboration with AWS exemplifies our focus on expanding the potential of data and technology, a key pillar in our strategy to power global markets," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "Our unique data, analytics, and insights in combination with AWS' unmatched reliability, security, and technology will drive innovation across our businesses and create value for all of our mutual customers."

"Together with S&P Global, we will deliver new technologies that will help customers across all industries take advantage of advanced market data and innovate more rapidly," said Adam Selipsky, CEO of Amazon Web Services, Inc. "Our mutual customers are looking for ways to continue to invent, diversify, and grow as they face today's challenging economic conditions. "With the new technologies developed by our organizations, government and enterprise customers from every market segment now have the tools to both innovate and navigate uncertainty."

Through the partnership, S&P Global will work with AWS to create cloud-based services employing years of detailed market data and insights. Customers will be given access to cutting-edge data science, analytics, and artificial intelligence capabilities that are scalable and modern for data discovery and customer integration. Together, S&P Global and AWS will provide our customers with fresh insights, risk analyses, and predictive modelling more quickly and precisely.

Additionally, the companies are expanding on their prior strategic initiatives, like their partnership with S&P Global's Enterprise Data Management solution (EDM), and they are looking into new opportunities for cooperation in areas like product development, channel distribution, and other potential business opportunities.

The partnership supports S&P Global's initiatives to improve its infrastructure, data, and technology—a cornerstone of the new strategic framework unveiled during its 2022 Investor Day. In recent years, S&P Global has boosted its investment in technological innovation, gaining a leadership position in the development of artificial intelligence research and products. S&P Global offers next-generation analytics, artificial intelligence, machine learning, and data visualisation tools to the business, financial services, and intelligence markets through the deployment of its own technologies, including those created by Kensho.

S&P Global continues to be committed to investing in its people and offering technical training to help people have a successful career in information technology. In 2022, they will have trained over 8,000 employees as part of their migration to the cloud, focus on cloud-native development, and emerging technologies.