Info-Tech’s 2023 Tech Trends Report states that it is the CIO’s duty to enhance existing capabilities and create new ones while protecting the business from continued and anticipated volatility.
Sydney, November 23, 2022 /PRNewswire/ — As the world moves into a potential economic downturn, technology leaders must help their organizations adapt to emerging technologies while building a layer of protection against the risks involved. To prepare leaders for 2023, global IT research and advisory firm Info-Tech Research Group has released its annual technology report. The company’s 2023 Tech Trends Report unveils seven data-driven trends and insights, based on insights from IT professionals, analysts and industry experts.
“The global trends outlined in the 2023 Tech Trends Report reflect current and emerging priorities the APAC technology sector,’ says David Banger, Senior Managing Partner, APAC. “In these uncertain times, it’s imperative for IT leaders to understand the trends to be prepared to capitalize on new opportunities for their respective organizations.”
The report’s survey received 813 responses from industry professionals, with over 90% of respondents working in IT departments. The underlying metrics for the 2023 report are diverse, with insights from 16 countries and regions including Australia, New Zealand, Japanand Indiaand 15 industries including government, professional services, manufacturing, education, healthcare, financial services, telecom, and retail.
‘Last year’s Tech Trends report focused on the skills companies would need to compete in a digital economy,” says Brian JacksonResearch Director and one of the key research leads for the Tech Trends Report 2023. ‘The 2023 Tech Trends report explores how technology leaders can explore emerging technologies while protecting the business from the risks they pose. Our research insights build on the trends of the past year and focus on how IT can enhance existing capabilities and create new ones, while considering the volatility of a world grappling with multiple major crises.’
The survey results, coupled with exclusive analyst research and expert opinion, are representative of the broader market and will help shape CIOs’ digital strategic projects for 2023.
The following seven technology trends and insights have been identified by the company for the coming year:
The Metaverse – Marketing pitches and media headlines have left IT leaders wondering if they should do a VR collaboration proof of concept in 2023, or perhaps lay claim to virtual real estate. Info-Tech views the Metaverse as a convergence of mixed reality, artificial intelligence, immersive digital space, and real-time communications merging into Metaverse experiences.
The metaverse as a hybrid working solution is still a far off concept for most organizations as 63% of organizations have no plans for VR collaboration e.g. B. the use of headsets that block out the real world. Only a quarter of companies are conducting or planning to conduct a proof of concept. Just over one in ten say they are either scaling or already seeing widespread organizational adoption.
Generative AI – Generative AI is a type of semi-supervised machine learning that uses neural networks to create new content or interpret complex signal information. By training on a large amount of content, models can be created to generate new works that are similar to what humans would create.
According to Info-Tech’s survey and research, AI will receive the most net new investments from organizations by the end of 2023, with 35% of organizations saying they have already invested in it and 44% planning to invest next year. With a 9% difference between committed and planned investments, AI leads all technologies, followed by data lake at 5% and data mesh at 5%.
Industry-led data models – The promises of big data have taken center stage throughout the 21st century, giving birth to an industry of data collection and analytics services. After AI, data lake (or lakehouse) and data fabric or mesh are the two technologies driving the most momentum in new investments this year, with both seeing a 5% increase in the number of companies planning investments in 2023. These platforms allow better access to corporate data and enable real-time reporting.
According to the survey, most organizations will seek to develop their own data analytics, with 41% building their own data analytics with in-house staff and another 28% both developing and purchasing tools to support analytics. Although companies want to bring their own industry expertise to the development of analytics, the development of the tools will likely result in a missed opportunity to get the industry’s best approaches being refined by technology vendors. IT leaders should keep this in mind when considering where to spend resources in 2023.
Sustainable digital processes – Organizations are still investing in the digitization of tasks and processes. They have also learned that digital transformation has no final end state, but is an evolutionary process without end.
Based on survey data, more companies may now have weathered the initial onslaught of digitization and are entering the next phase of sustaining their efforts. For example, last year more companies (eight out of ten) said they had digitized over 20% of their processes. In this year’s survey, the number is declining: seven out of ten respondents said they had digitized between 0% and 20% of their processes in the past year.
Efforts and new tools and ways of working are needed to keep the momentum going.
ESG Analysis and Reports – It is expected that by 2023, listed companies will be required to report on their carbon emissions by financial regulators in countries such as the UK, EU, US and other countries Canada. However, many organizations are still lagging behind on this issue, even though various regulatory bodies around the world are either implementing or moving towards implementation of these reporting requirements.
Less than a quarter of IT professionals say their organization is able to accurately report the impact of their ESG initiatives, and 43% say their impact reporting is inaccurate. Reporting accuracy was even worse when reporting carbon footprints: 46% said their organization could not accurately report their carbon footprint. IT leaders need to improve on this front to be compliant.
Zero Trust Security – Zero Trust means full access to the bare minimum. This approach is especially important as we have been weathered by a number of software supply chain attacks over the past several years.
Just over half of respondents said it is likely or very likely that a cybersecurity incident will disrupt their business in 2023. Disruption from new government security regulations was the second most common concern, with 40% saying it is likely or very likely to disrupt business.
As attacks increase in frequency and impact, organizations are turning to the concept of a Zero Trust network to defend against threat vectors.
preparing for the recession – In addition to the new technologies that could innovate and all the resulting risks that IT must work to mitigate, there is a financial risk to the IT budget in 2023. This risk reduces the extent to which IT can capitalize on growth opportunities and protect itself from regulatory burdens and bad actors.
Despite the negative signals, most IT professionals expect their budgets to increase in 2023. 55 percent of those surveyed expect a larger budget next year; 28% expect an increase between 6% and 15% and another 8% expect an increase between 16% and 30%. Interestingly, US IT pros are more optimistic than their international peers, with 70% expecting a budget increase in 2023, compared to 55% for the global average.
The 2023 Tech Trends report also includes insights in the form of case studies from technology experts from organizations such as Cisco, Walmart Canada, Glitch Goods, Children’s Specialized Hospital, Albemarle Corp and Edgeless Systems.
With offices inside Australiathe United Kingdom, The United Statesand Canada, this report will feed into the company’s next major global release, the forthcoming CIO Priorities 2023 report. Scheduled for release in early 2023, this resource will provide a deeper dive into recommended features that will help organizations respond to any emerging trend.
Registration for the Tech Trends 2023 webinar is now available and scheduled Friday December 2ndat 11 clock AEDT.
Download and read the full 2023 Tech Trends report for more insight into the year ahead.
To learn more about the Info-Tech Research Group, visit infotech.com and connect via LinkedIn and Twitter.
About the Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading information technology research and consulting firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely and informed decisions. For 25 years, Info-Tech has worked closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, to ensure they deliver measurable results for their organizations.
Media professionals can register through the ITRG Media Insiders Program for unlimited access to IT, HR and software research, as well as over 200 IT and industry analysts. To gain access, contact [email protected]
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SOURCE Info-Tech Research Group