The significance of the "cloud-first" approach in IT strategy is that it emphasizes deploying applications and services in the cloud before considering on-premises solutions. This approach leverages the benefits of scalability, cost-efficiency, and enhanced collaboration by allowing organizations to utilize cloud services for resource demands. Additionally, a cloud-first strategy is aligned with modern IT trends, enabling organizations to stay agile and responsive to market changes. It often leads to quicker implementation and less dependency on traditional infrastructure.