Most of those dollars will be spent in these areas:
What about AI?
Generative AI (GenAI) is on everyone's minds these days. Unquestionably it is here to stay and will continue to increase in use as applications become more sophisticated and integrated with other data producing systems.
To date, however, no significant spending impact has been reported for AI technologies, although this is expected to change for 2025. One reason may be the need for companies to decide exactly where they will use AI and how they will map out a strategy to support their GenAI initiatives.Another is the ongoing concern for security.
IT leaders are cautiously optimistic for the future.
While fears of a continued economic downturn have yet to dissipate, there is, according to the latest State of IT Report, issued by Spiceworks Ziff Davis, a "cautious optimism" fueling increased spending.
According to those surveyed, 84% indicated that they were still bracing for a recession, up from 60% last year. This has motivated many managers to spend the last year in a cost-reduction mode, eliminating unnecessary expenses and tightening up resources. This may help explain the increased confidence behind the increase in technology investments for 2024.
Saving money today to build innovation tomorrow.
Clearly there is no better time than now for IT management to use every available tool to save money needed to help support new initiatives to make their companies more operationally efficient and competitive.
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