Harnessing the potential of digital technology is critical to unlocking value in today’s global economy. For many corporations, digitizing has also become essential for their basic survival. As they invest in their digital transition, businesses need to determine where they will reap the most reward.
Across the globe, more CIOs and CTOs are planning significant IT infrastructure investments, as part of their organization’s digital transformation growth agenda. Worldwide IT spending is projected to total $3.7 trillion in 2018 — that’s an increase of 4.5 percent from 2017, according to the latest forecast by Gartner.
Many CIOs and CTOs in the global financial services sector will be working on significant new IT infrastructure projects in 2018. Digital transformation within the banking industry is about applying new business technology to break free from prior constraints.
While all banks worldwide acknowledge the importance and complexity of transforming their businesses to compete in this digital economy, nearly 40% haven’t executed on a sustainable digital transformation strategy, according to a new survey from IDC.
“The 20th century economy was about resources under our feet while the 21st century economy is about the resources between our ears. In this context, human capital has emerged as a country’s most valuable economic asset. Indeed, the linkages between education, economic growth and prosperity are significant.”
via The Conversation
Spending on digital transformation (DX) technologies will reach nearly $1.3 trillion in 2018 — that’s an increase of 16.8 percent over 2017. In 2021, DX spending will nearly double to more than $2.1 trillion, according to the latest worldwide market study by IDC.