Despite global macroeconomic headwinds, IT spending is set to increase to $4.6tn in 2023, driven by digital transformation and spending on software, infrastructure as a service and cloud. In India, IT spending is predicted to reach $108.5bn. Shantanu Rooj, Founder & CEO, TeamLease Edtech, claimed that upskilling is necessary for survival, with digital transformation, AI/machine learning, ESG and cybersecurity among the areas vital to CXO’s knowledge base. In a recent report, Gartner had forecast that global spending on IT would increase to $4.6 trillion in 2023, up 5.5% from 2022, despite the continued global macroeconomic headwinds. It said digital transformation would continue to play a key role in enabling this spending, especially those on software that drives competitive advantage through more productivity, automation and transformation. Similarly, spending on cloud or on infrastructure as a service would grow. In India, the spending would rise to $108.5 billion with a focus on software solutions, SaaS applications and cloud migration, it added. Imagine being in the CEO or CXO seat during times like this. Despite ongoing uncertainty, you have to take a judicious call on technology priorities and on the required investments for your company. That includes decisions on hiring, on partner […]
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