Digital Lifescapes

New IT investment is aligned with digital business growth. The rapid adoption of Artificial Intelligence (AI) technologies has become a key growth catalyst across many industries. The latest growth forecast from IDC provides a compelling snapshot of the AI market's upward trajectory and underscores its pivotal role in shaping the future of business innovation. Worldwide spending on AI will more than double by 2028, reaching $632 billion. This represents a compound annual growth rate (CAGR) of 29 percent over the 2024-2028 forecast period. Such rapid adoption is a clear indicator of AI's increasing importance and the willingness of business leaders to invest heavily in the strategic use cases that fuel net-new growth. Artificial Intelligence Market Development "AI-powered transformations have delivered tangible business outcomes and value for organizations worldwide and they are building their AI strategies around employee experience, customer engagement, business process, ...

Data has become the lifeblood of forward-thinking organizations. Market leaders leverage vast troves of data to inform decision-making, personalize customer experiences, and optimize operations. However, extracting value from this digital data requires analytics capabilities. Here's where Artificial Intelligence (AI) is becoming a powerful tool to unlock actionable insights. AI Data Analytics Market Development According to the latest Gartner market study, there's a significant shift in how organizations approach data and analytics (D&A) due to AI's growing influence on business outcomes. The study found that 61 percent of organizations actively evolve their D&A operating models in response to AI capabilities. This underscores a critical realization: the traditional approaches to data management and analysis are no longer sufficient. The integration of AI into D&A offers several compelling advantages: Enhanced Data Exploration: AI tools can automatically analyze...

Enterprise marketing faces a critical turning point in 2024, mirroring the shift from traditional outsourced media buying to digital marketing practitioners. A rapidly changing landscape of technological advancements demands a similar leap forward. Just as digital disrupted legacy media strategies, these trends render current enterprise marketing methods inadequate. Embracing a data-driven, agile, and purpose-driven approach isn't a suggestion, it's the imperative for survival and success in today's dynamic market. Applying generative artificial intelligence ( GenAI ) to a range of enterprise marketing tasks will result in a significant productivity increase by 2029, according to the latest worldwide market study by International Data Corporation (IDC). Marketing GenAI Apps Market Development "In the next five years, GenAI will advance to the point where it will handle more than 40% of the work of specific marketing roles," said Gerry Murray, research director at ...

The European Artificial Intelligence (AI) and Generative AI (GenAI) market will reach $47.6 billion in 2024 and record a compound annual growth rate (CAGR) of 33.7 percent over the 2022-2027 forecast period. Europe represents around one-fifth of the global AI market according to the latest worldwide market study by International Data Corporation (IDC). While the share of GenAI reached only 9.6 percent of the total European AI market in 2023, it is increasing rapidly. Investment in GenAI will grow more than three times as fast as spending on the rest of the artificial intelligence market. As a result, GenAI will be more than a quarter of the European AI market in 2027. European AI Market Development Software will be the largest technology segment in 2024, with a market value higher than hardware and services combined. Furthermore, software is expected to have the fastest growth during 2022-2027, driven by demand for AI applications and platforms. The share of hardware technologies will...

CEOs continue to invest in digital business technologies to stay ahead of their competition, enter additional markets, unlock new revenue streams, and streamline commercial operations. Worldwide information technology (IT) spending is forecast to reach $5 trillion in 2024 -- that's an increase of 6.8 percent from 2023, according to the latest global market study by Gartner. This estimate is down from the previous quarter’s forecast of 8 percent growth. While Generative AI (GenAI) had significant hype in 2023, it may not significantly change the growth of IT spending. Enterprise IT Market Development "While GenAI will change everything, it won’t impact IT spending significantly, similar to IoT, blockchain and other big trends we have experienced," said John-David Lovelock, vice president analyst at Gartner . Moreover, 2024 will be the year when organizations actually invest in planning for how to use GenAI. However, enterprise IT spending may be driven by more traditional...

Savvy CEOs have high expectations that their Information Technology (IT) organization will be a strategic enabler of Digital Transformation. However, there is often a mismatch with the IT talent demand, and their internal IT team's digital business skills. The roles and activities performed by IT professionals must evolve dramatically due to the demand for convergence of modern software development technologies, cloud computing platforms, and the creation of Everything-as-a-Service offerings. Many IT professionals will find themselves in hybrid roles that combine traditional development activities with activities that formerly were associated with operations professionals who historically had few or no development-oriented responsibilities. Enterprise IT Role Market Development A new International Data Corporation (IDC) market study provides an extended census and forecast with detail for both traditional IT operations roles, and these new hybrid roles. The data shows that a dramat...

Historically, the Chief Information Officer (CIO) role was considered the leader of enterprise Digital Transformation initiatives. The belief was based on the notion that the primary skill set required was Technology expertise. However, IDC now predicts that the focus has shifted to Business expertise, talent development, and digital growth strategy. This revelation is just one of IDC's predictions for 2023, and beyond. Digital Transformation Market Development CIOs who demonstrate a mix of strategic purpose and people skills can now co-lead with their business counterparts -- to demonstrate and align new technologies for sustainable business outcomes. "In this new world, the role of the CIO has evolved to be one that is a digital business enabler using technology to compete," said Linus Lai, chief analyst at IDC A/NZ. IDC's top CIO Agenda predictions are as follows: Chief Business Technology Officer: By 2026, 60 percent of CIOs will find their roles being challenged...

Business model evolution and growth are still top priorities for forward-thinking leadership. In fact, 70 percent of surveyed boards of directors will accelerate digital business initiatives, steering the organization to digitally-enabled growth. Chief Financial Officers (CFOs) also plan to protect their digital transformation investments as they cut costs elsewhere in their operations, according to the latest market study by Gartner. Among technology priorities, CFOs have particularly prioritized back-office business automation technology as a key to driving down costs in the face of ongoing inflation and supply chain challenges. Digital Applications Market Development A survey of CFOs found that digital business app acceleration was the top spending priority over the next 12 months, with 98 percent of respondents saying they will protect digital investments. Meanwhile, 66 percent of surveyed CFOs said they plan to increase their digital app investments. A separate survey of CEOs high...

Many organizations will need to accelerate the modernization of IT infrastructure and operations to build a sustainable competitive advantage in the next 2 to 3 years, according to the latest market study by International Data Corporation (IDC). The ability to align to the digital business transformation paradigm is contingent upon investing in next-generation cloud-native IT infrastructure technologies, platforms, and solutions -- also it depends on how CIOs will help transform commercial operations. The rapid proliferation of data-driven edge workloads, the growing number of ransomware and malware attacks, and the growth of structured or unstructured data are creating significant challenges -- IDC says by 2023, most C-Suites will implement business-critical key performance indicators (KPIs). Digital Infrastructure Market Development "The CIO and IT decision-makers will need to do some serious thinking beyond modernizing the technology building blocks and platforms if they truly ...

Chief executives are eager to accelerate a digital business growth agenda. Focused on business model reinvention, the remediation of technical debt, sustainable IT infrastructure and more, International Data Corporation (IDC) unveiled their Worldwide CIO Agenda 2022 Predictions. The key IDC predictions will likely impact CIOs and IT professionals over the next one-to-five years. IDC analysts believe IT leaders have opportunities that will not present themselves again in their lifetimes. Chief Information Officer Agenda Predictions With forward-looking insights, IDC provides senior IT leaders and Line-of-Business (LoB) executives with actionable guidance for managing IT investment priorities and implementation strategies as they continue to navigate the winds of change. The top ten IDC predictions are: 1: Through 2026, 65 percent of CIOs will sustain a cycle of tech-based empowerment, agility, and resilience through collaborative governance, new service delivery models, and a business o...