UAB CAST AI Baltic is currently implementing the project co-financed by the European Union.
UAB CAST AI Baltic is pleased to announce that following the positive decision of the European Regional Development Fund in 2020, is currently implementing the European Union funded project “Automated Multi-Cloud Management and Optimization Technology (CAST AI)” No. 01.2.1-LVPA-K-856-01-0012 (hereinafter referred to as the project).
The market for public cloud services is growing rapidly. According to International Data Corporation (IDC) forecasts, spending on public cloud services and infrastructure in 2019-2023 will more than double over the period, i.e. from 229 billion USD up to 500 billion USD. Recent Gartner research shows that 81% of public cloud users work with two or more service providers. Most organizations choose a multi-cloud strategy to avoid single-provider reliance and take advantage of the best solutions. However, the growth of the multi-cloud management market is constrained by factors such as lack of security and limited ability to ensure full portability of applications and data. There are currently no solutions on the market that allow consumers to efficiently use the services of multiple cloud service providers in parallel across multiple clouds. That is why this project aims at creating an automated multi-cloud management and optimization platform which will enable users to move applications from one cloud to another without changing a single line of code and automatically optimize processes in real time based on many criteria (e.g. cost, performance, geolocation, data sovereignty, security, compliance).
The Project is co-financed by the European Regional Development Fund under Priority 1 of the European Union Funds Investment Operational Program for 2014–2020 “Promotion of Research, Experimental Development and Innovation” No. 01.2.1-LVPA-K-856 measure “Experiment”.
The total value of the project is 1.865.126,23 EUR of which 1.065.373,74 EUR is funded by the European Regional Development Fund and the rest is the company’s own contribution. Planned completion of the project activities is in August, 2022.