Although 87 percent of digital leaders expect an economic slowdown, global technology spending is set to see its third fastest growth rate this year in more than 15 years. In fact, more than half (52 percent) of digital leaders expect their technology budget to increase, while only 12 percent expect their budget to decrease, according to the world’s largest and oldest survey of technology decision-makers.
But the Nash Squared Digital Leadership Report, in conjunction with CIONET, found that investment has slowed in emerging technologies like AI and big data, posing a threat to innovation opportunities due to the global economic instability.
Although investments in the cloud remain high (63 percent say they are making them at scale), companies are reducing their investments in all other technologies (Big Data, AI/ML and RPA) that are essential for innovation and innovation. obtaining a competitive advantage.
“Economic difficulties are mounting, and indicators are turning negative – but despite or even because of this fact, companies know that investments in technology remain crucial,” said Nash Squared CEO Bev White. “To maximize the effectiveness of the technologies they already have and to become more flexible and responsive in highly unpredictable conditions, technology is key.
“However, as tech investment intentions hit their third highest level in more than 15 years, there are signs that some companies are scaling back investment in areas such as AI and big data. The reasons for this choice are understandable, but organizations must be careful not to reduce their investments too drastically,” she added.
For more information on the report, go to www.nashsquared.com
