Digital Transformation is Impacting IT Departments
Where is Your IT Money Being Spent?
wrote recently, "The COVID-19 pandemic has accelerated the adoption of digital technologies in almost every industry sector." How true that is! And, while we often hear about CIOs looking for ways to cut costs
, digital transformation investments, according to the article, are expected to grow over a trillion dollars between now and 2025.
That's a lot of IT investment. And it puts IT managers on the dime for deciding what to invest in, how to deploy it successfully and keep everyone safe from cyber-attacks.
Here are a few of the key areas where big money is expected to be spent, according to the article:
- Artificial Intelligence
- AI continues to permeate more areas of business and is expected to exceed $126 billion by 2025. But most leaders believe that the investment is well worth it as AI is helping businesses more accurately forecast and improve operational efficiency.
- 5G wireless technology
- Bringing faster data speed, improved network connectivity and an overall optimized user experience, 5G is becoming essential to organizations to maintain worker productivity and ensure that internal processes are operating efficiently. Subscriptions of 5G smartphones are expected to reach over $3 billion by 2026.
- It doesn’t take much to appreciate the demand that these and other emerging technologies will place on IT managers to maintain security for systems and end users. Because, while technology continues to evolve, so does the sophistication of its hackers. The risks have never been higher and IT managers will invest more heavily in cybersecurity to help them keep one step ahead.
As your world grows more complex, we remind you to make sure you are keeping track of the expenses
associated with existing technologies in your organization as well as those new technologies you plan to invest in.
Contact us to learn more about our Technology Expense Management
(TEM) and other tools and services
you can use to gain visibility over all your systems, gain control and save money. You will need it for future investments!