Worldwide IT spending is projected to total $3.7 trillion in 2018 — that’s an increase of 6.2 percent from 2017, according to the latest market study by Gartner. Senior executives and line of business leaders continue to drive many of the strategic IT procurement decisions.
In every industry, businesses are undergoing digital transformation, resulting in new business processes and, in some cases, new business models. Another change accompanying digital transformation is the shift in technology spending from IT to the line of business (LOB).
Marketers waste an average of 26% of their budgets on ineffective channels and strategies, according to recent survey findings. Half of respondents said they misspend at least 20% of their budgets. A few pessimists even believed they’re squandering more than 80% of their marketing budget. CMOs have a choice.
The world is being battered by technological disruption, as innovations such as big data analytics, artificial intelligence (AI), robotics, the Internet of Things, blockchain, 3D printing, and virtual reality change how societies and economies work.
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The retail banking sector continues to pursue digital transformation projects. Mobile devices are key to their strategy, as banks move to a ‘mobile first’ approach. It’s a global trend supported by the scale of a declining financial services workforce, and the number of physical branches.