2023 was a milestone year for technological evolution, and it is natural to eagerly follow how things will unfold. We have all been amazed by what Generative AI can offer, and it is more than evident that we have only seen the tip of the iceberg. Experts predict significant changes driven by the power of technology, and what we can do in these circumstances is to increase our adaptability speed to fully benefit from the advantages offered by digitization, automation, artificial intelligence, and machine learning.
Gartner has released the trends for 2024, and the conclusion is clear: the IT domain continues its extremely rapid ascent!
If in 2023 the growth rate of IT spending was 3.3%, in 2024, a growth of 6.8% is anticipated, amounting to 5 trillion dollars.
According to Gartner, expenditures on IT services are projected to surpass expenditures on communication services for the first time in 2024.
This is largely due to the investments made by companies in efficiency and organizational optimization projects. These investments will be crucial in this period of economic uncertainty.
2024 will be the year when organizations will actively invest in planning the use of GenAI, but IT expenses will still be driven by more traditional forces such as profitability and workforce considerations. The pace of these investments might be slowed down by a continued fatigue from ongoing changes.
By 2030, it is anticipated that every dollar spent in the IT domain will include an artificial intelligence (AI) component.
2023 was a milestone year for technological evolution due to Generative AI, and in 2024, we will witness massive investments in this direction. Starting from 2025, specialists estimate that the impact of AI will truly begin to be felt in the business environment or in everyday life.
Under these circumstances, adaptability will be the essential quality for companies.
If you haven't brought your business to digital maturity yet, it's time to step on the accelerator.
In the coming years, digitalization will be the backbone of a company's operation, "automation will be the muscles, and AI the brain," as aptly pointed out by Bobby Patrick, Chief Marketing Officer at UiPath.
Prepare your company for the upcoming technological changes.
Schedule a discussion with the experts at Sostenia!
GET IN TOUCH WITH US