CIO’s are shifting their IT spending towards automation to scale growth with fewer employees, according to Gartner.
The research firm notes that CIOs continue to face challenges in the IT talent market.
John-David Lovelock, the Distinguished VP Analyst at Gartner, said: "IT projects are shifting from a focus on external facing deliverables to more inward facing efforts focused on optimisation."
Gartner's latest forecast shows global IT spending reaching $4.7tn in 2023.
The firm anticipates double-digit growth in software spending, but predicts an 8.6% drop in device spending due to inflation.
"The devices segment is experiencing one of its worst growth years on record," Lovelock notes.
While generative AI is top of mind for many business and IT leaders, it's not significantly impacting IT spending currently.
However, Lovelock states that "generative AI's best channel to market is through the software, hardware and services that organisations are already using," predicting its gradual incorporation into existing IT budgets.
