2023 has started amidst concerns. Economists are talking about slowdowns, recessions, and downsizing. In the past, every time the economy has been uncertain, we have seen a downtrend in tech spend by companies.
2023 will be different!
Today, all organisations know of the power of digital transformation and will continue to invest in technology to counter the market uncertainties. They will respond to the emerging forces of innovation, deploy automation to counter skills gaps, and focus on being nimble and agile businesses – all with the help of technology.
Here are the 5 trends that will impact tech spending in 2023.
- Organisations will aim for “Big Ticket Innovations”. This will see innovation becoming integral to strategic discussions on culture, people, process, and technology; and the resurgence of emerging technologies.
- AI will replace Cloud as organisations’ transformation goal. Organisations will evolve their AI roadmaps and strategies – focusing on both short-term wins and long-term success factors. They will also make an effort to identify digital debt and weed out applications and services that are sub-optimal for AI
- Building the right data platform architecture will gain importance. Data platforms will become free from the constraints of operational technologies. This will see a reduction of dependence on centralised data repositories; and an uptick in adoption of data fabric architecture to manage distributed data
- Organisations will invest in proactive cyber protection amidst escalating threats. Organisations will focus on immutable backups, data masking techniques and on building a single pane of glass view of all cyber tools and applications
- Sustainability will drive tech investments. This will see an evaluation of all infrastructure (whether cloud or on-premises) with a focus on cost and sustainability and a growing need to integrate all organisational data – across digital, IT, and OT systems
To find out more, read below.
Download 5 Trends Impacting Tech Investments in 2023 as a PDF.