Yes, because tea leaf gazing beats reality, any day.
Is it a requirement for executives to not merely be adept at bandwagoneering ill- and misunderstood buzzwords, but also to actually believe in this executive bullshit, like how some analyst firm or other cranked up their crystal balls nine years into the future and that this is somehow more credible than the issues that the workforce is running into?
If so, I'll happily paint myself completely unfit for CxOship.
To me, this "cloud" thing is nice if you happen to be a silly valley or at least westpoindian startup or something. For bigger fish, close control of uptime becomes important and it's been reported a few times including here that, say, amazon isn't too big on providing that right when you need it most, that is when, not if, the excrement hits the air circulation device. Yes, this could all be fixed in theory. In practice, it's taking a while.
And when you're not in westpondia, you'll quickly find that most clouds are westpondian-owned, and that regardless of whether they're located elsewhere, therefore the PATRIOT act ensures that you are not safe from prying eyes, and also that thus you don't actually have enough control over your own data to truthfully commit to the local privacy requirements. Contract law is simply not enough to ensure privacy or data security. If there's lawyers among the readership, go ahead and check your (data) outsourcing agreements, what guarantees and penalties are attached, and just how well that's going to help you should you need them.
Notwithstanding that there's still a lot of suckers out there and that therefore there is a market for almost anything with enough buzz attached. For the more interesting tea leaf staring, figure out how much embarrasment the average CIO needs to clean up their act regarding privacy and data security. Throw a fancy graph at that, if you would. The ICO will be interested.