Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 20 (Xinhua)-- according to forecasts released by market research firm Gartner, global IT spending is expected to reach $4.7 trillion in 2023 (CTOnews.com Note: currently about 33.98 trillion yuan), an increase of 4.3 percent over 2022.

The report argues that corporate chief information officers (CIO) lost the competition for IT talent, shifting more focus to technologies that achieve automation and efficiency, and driving larger growth with fewer employees.

John-David Lovelock, vice president of Gartner analyst, believes that many companies are promoting the transformation of their digital business, and IT projects are shifting from focusing on external deliverables such as revenue and customer experience to focusing more on optimization and internal work.

While the overall outlook for corporate IT spending is optimistic, equipment spending will fall by 8.6 per cent in 2023 due to the continued impact of inflation on consumer purchasing power (see table 1).

CTOnews.com quoted the Gartner report as saying that many enterprises and IT leaders are actively promoting generative AI, but it has not significantly affected the level of IT expenditure.

"the best way for enterprises to deploy generative AI is to combine existing software, hardware and services," says Lovelock. "every year, new features are added to technical products and services as add-ons or upgrades. Most companies will integrate generative artificial intelligence in a slow and controlled manner by upgrading tools already built into the IT budget."

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