May 18, 2011 – Putting computing in the cloud promises huge cost savings to most American corporations, according to vendors of technology and cloud-related services at the first Bloomberg Enterprise Technology Summit in New York.

But the two-day collapse of Amazon Web Services last month is the kind of incident that underscores the concern that continues to keep critical applications, such as Wall Street's trading programs, out of remote, hosted online services and data centers, said Geoff Tudor, chief cloud strategist at Hewlett-Packard Company.

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