The professional association IEEE has launched a new Cloud Computing Initiative, its first attempt at developing global standards for technologies and services related to the cloud sector. In announcing the initiative, IEEE called the cloud computing market as potentially transformative as the nascent Internet—disruptive poised for explosive growth, but requiring a common framework for interoperability to avoid silos.

The first two projects the new effort will address and portability and interoperability of cloud platforms and what IEEE calls Intercloud Interoperability and Federation. As potentially daunting and science-fiction sounding as that may be to, what it means is that the global communications industry has recognized the potential of cloud computing and how transformative it can be for enterprise IT organizations.

Additionally, global standards frequently stabilize or drive down prices (in part because of increased competition), so IT professionals potentially stand to benefit from that impact as well. The only potential downside is that standards process often get mired down and turn into political battles among various technology camps—a possible hindrance to innovation if that were to occur.