Digital Lifescapes

In uncertain times, such as the post-pandemic economy, smart business leaders will consistently invest the time and effort to gain a competitive edge. Moreover, these savvy leaders have a keen sense of the need for ongoing digital transformation. The worldwide artificial intelligence (AI) market -- including software, hardware, and services -- will post a compound annual growth rate (CAGR) of 18.6 percent in the 2022-2026 forecast period to reach $900 billion in 2026, according to the latest market study by International Data Corporation (IDC). "The COVID-19 pandemic quickly revealed that our current systems are not as resilient as we thought they were," says Martin Nuska, AI analyst at IDC . Artificial Intelligence Market Development The quest for substantive digital transformation became an urgent necessity, due to disrupted supply chains, and a critical need for fast and accurate insight to support key decision-making processes. This is expected to lead to huge opportuniti

Business technology investment no longer follows a predictable path to growth. The global venture capital (VC) investment in artificial intelligence (AI) was close to its peak in 2021 reaching $22.3 billion, according to the latest worldwide market study by ABI Research. This is just $400 million shy of the historical high of $22.7 billion recorded in 2019. Compared to the $15 billion recorded in 2020, the market made a remarkable recovery, with a 48.5 percent year-on-year growth. Will the future AI marketplace return to stable growth, or will it remain volatile? Artificial Intelligence Market Development "COVID-19 greatly accelerated the speed of digital transformation within the enterprise. Businesses are looking for solutions to work processes automation, customer care, due diligence, transcription and translation, and sales and marketing enablement tools," said Lian Jye Su, research director at ABI Research . At the same time, COVID-19 led to the Great Resignation of 2021

Looking ahead, many Chief Executive Officers (CEOs) continue to selectively invest in new strategic digital transformation projects that enable a significant competitive advantage. Some additional investments may go towards improving existing IT infrastructure and operations.  Worldwide IT spending is now projected to total $4.5 trillion in 2022 -- that's an increase of 3 percent from 2021, according to the latest updated estimate by Gartner. For now, most CIOs will be relieved that their budget is safe from major cuts. While IT spending is expected to grow in 2022, it will be at a slower pace than in 2021 -- partly due to a 5 percent cutback on spending for personal computers, media tablets, and printers. Digital Transformation Market Development "Central banks around the world are focusing on fighting inflation, with overall inflation rates expected to be reduced through the end of 2023. However, the current levels of volatility being seen in both inflation and currency exch

Fact: online payments are a prime target of cyber-criminals. There are millions of potential loopholes to exploit as payment card details are stored while processing routine online eCommerce transactions. The Dark Web is where criminals interact without being traced. This is where fraudsters buy and sell payment card details and share information on how to steal funds, and the best tools to use. From market data, it's clear that online retail payments are convenient. However, they've also created a playground for people intent on defeating the structures on which online payments rely. Trust, it seems, is breaking down. Plus, the security threats continue to evolve and test anti-fraud measures. Online Payment Market Development According to the latest worldwide market study by Juniper Research, the cumulative merchant losses to online payment fraud between 2023 and 2027 are forecast to exceed $343 billion. As a comparison, this equates to over 350 percent of Apple’s reported net

Across European nations, more CIOs and CTOs are investing in public cloud services that become the essential foundation for the design and delivery of innovative digital transformation projects. Public cloud computing spending in Europe will reach $113 billion in 2022 and will double to $239 billion by 2026, growing at a 22 percent 5-year CAGR, according to the latest market study by International Data Corporation (IDC). Investments in Software-as-a-Service (SaaS) will continue to lead most of the spending in Public Cloud in Europe in 2022, but Platform-as-a-Service (PaaS) will be the fastest-growing segment. In fact, PaaS enables digital business deployment via the quick testing and production of new software applications. Public Cloud Market Development Professional services, banking, and discrete manufacturing will be among the top spenders in public cloud services, absorbing almost 60 percent of the overall public cloud services spend in 2022.  Human-centric industries are adjustin

Urban areas within cities account for more than 50 percent of Earth's population and are estimated to be responsible for more than 70 percent of global carbon emissions. To combat this, decarbonization strategies are being employed by forward-thinking city leaders around the globe. According to the latest worldwide market study by ABI Research, smart city technologies will be a critical asset for this transformation. Municipal decarbonization will be a component of local government efforts for Environmental, Social and Governance (ESG) policies. Government ESG Market Development "The principles behind smart city technologies, such as increasing efficiency, better data management, and better decision making are also essential for decarbonization and reaching net-zero goals," said  Dominique Bonte, vice president at ABI Research . Technologies such as digital twins, smart street lights, micro-grids, computer vision, smart city management platforms, and micro-mobility are al

Government leaders must grasp new opportunities resulting from the global COVID-19 pandemic and economic recovery, changing political demands, and digital transformation expectations. Thinking ahead, CIOs should design new flexible business, operating, and talent retention models. Meanwhile, worldwide government IT spending is now forecast to total $565.7 billion in 2022 -- that's an increase of 5 percent from 2021, according to the latest survey and global market study by Gartner. "The last few years of enduring pandemic challenges have mobilized a wave of digital transformation activities in government organizations across the world," said Daniel Snyder, director analyst at Gartner . Government IT Services Market Development Gartner analysts believe that governments are executing innovative activities by harnessing business technology to streamline digital services, advance automation processes, and evolve citizen services. In 2022, government IT spending is forecast to

Secure online access plays a key role in the exchange of data and information. That resource is more valuable to executives due to the insight it can provide in improving operational efficiencies. Protection of this resource must meet IT security requirements for approved user authentication. Identity and Access Management (IAM) is the security discipline that enables the right individuals to access the right resources at the right times for the right reasons. These resources could be tools required to complete a job, access an enterprise database, or IT services and software apps hosted in the cloud. Enterprise IT's essential role in the management of user authentication requires ensuring each person is who they claim to be while also enabling ease of access for those users. An effective access management solution will fulfill the security policies outlined by the Chief Information Security Officer (CISO).  Identity and Access Management Market Development According to the latest

The global cloud computing market is driven by the belief that provisioning IT infrastructure is without differentiation. Cost reduction is often the key motivation. Moreover, in order to shift their human resources toward the enablement of digital business outcomes, IT leaders are reskilling their legacy IT staff. The total worldwide public cloud services market grew 29 percent year-over-year in 2021 with revenues totaling $408.6 billion, according to the latest market study by International Data Corporation (IDC). Market consolidation continued in 2021 with the revenue of the top five public cloud service providers capturing nearly 40 percent of the worldwide total and growing 36.6 percent year-over-year. Public Cloud Computing Market Development With offerings in all four deployment categories, Microsoft captured the top position in the overall public cloud services market with 14.4 percent share in 2021, followed closely by Amazon Web Services with 13.7 percent share. "Organiz