Google has a new strategy to compete with Amazon, Microsoft

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To compete in the cloud business with Amazon and Microsoft, Google Cloud's CEO said the company is taking a new approach by separating services by industries and targeting the C-suite directly, according to CNBC.

"When we build these industry-specific solutions, they're highly differentiated," said Google Cloud CEO Thomas Kurian at the Goldman Sachs Technology & Internet Conference this week in San Francisco. "No one has that capability and that allows us to sell not just to IT but to business-owners."

Mr. Kurian said Google Cloud will create services for five businesses: retail, healthcare, financial services, media and entertainment and manufacturing. Many of the cloud services developed for these industries will center around Google's artificial intelligence.

By targeting industries individually, Mr. Kurian said Google can take its pitch directly to the C-suite of different companies, selling to CEOs, chief digital officers, CIOs and chief information security offers. Other companies, particularly startups, sell products to department heads.

Google Cloud has seen success with its products. In its fiscal 2019 financial report, the company posted $8.92 billion in revenue compared to $5.84 billion in 2018.

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