Info-Tech Research Group’s New 2023 Technology Trends Report Highlights 7 Trends CIOs Need to Anticipate in the Year Ahead
Info-Tech’s 2023 Tech Trends report indicates that it is the duty of the CIO to improve existing capabilities and create new ones while protecting the organization from continued and expected volatility.
TORONTO, November 8, 2022 /PRNewswire/ – As the world heads into a potential economic downturn, technology leaders must help their organizations adapt with emerging technologies while creating a layer of protection against the risks posed. To prepare technology leaders for what’s to come in 2023, global IT research and consulting firm Info-Tech Research Group has released its highly anticipated annual technology report. The 2023 Tech Trends report reveals seven data-driven trends and findings based on insights from IT professionals, analysts and industry experts.
“Last year’s Tech Trends report focused on the capabilities organizations would need to compete in a digital economy,” said Brian Jacksonresearch director and one of the lead research leads for the 2023 Tech Trends report. “The 2023 Tech Trends report examines how technology leaders can explore new technologies while protecting the organization from the risks posed. Our research analyzes expand on trends from the previous year, focusing on how IT can enhance existing capabilities and create new ones while simultaneously accounting for the volatility of a world facing several major crises. »
The report’s survey received 813 responses from industry professionals, with more than 90% of respondents working in IT services. The metrics underlying the 2023 report are diverse, with information from 16 countries and regions, including the United States, Canadaand Australiaas well as 15 sectors, such as government, professional services, manufacturing, education, healthcare, financial services, telecommunications and retail.
“Like a chess grandmaster, CIOs will have to play on both sides of the board in 2023,” said Jackson. “Emerging technologies present opportunities for attack, while protection against a volatile board state is a requirement.”
The survey results, combined with proprietary analyst research and expert insights, are representative of the broader market and will help shape CIOs’ digital strategic plans for 2023. The seven trends and findings following technologies have been identified by the company for the coming year:
- The Metaverse – Marketing pitches and media headlines have left IT managers wondering if they should run a proof of concept on VR collaboration in 2023 or perhaps claim virtual real estate. Info-Tech views the Metaverse as a convergence of mixed reality, artificial intelligence, immersive digital space, and real-time communications that stack together to create Metaverse experiences.
The metaverse as a solution to hybrid working is still a distant concept for most companies, with 63% of organizations not planning to collaborate in virtual reality, such as using headsets that block out the real world. Only a quarter of companies are doing a proof of concept or plan to do so. Just over one in ten say they are either evolving 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 being trained with a large amount of content, patterns can be created to generate new works like what people would create.
According to Info-Tech’s survey and research, AI will receive the most net new investment from organizations by the end of 2023, with 35% of organizations indicating they have already invested in it and 44 % planning to invest next year. With a 9% change between committed and planned investments, AI leads all technologies, followed by data lake at 5% and data mesh at 5%.
- Industry-driven data models – The promise of big data has been at the center of attention throughout the 21st century, giving rise to an industry of data collection and analysis services. After AI, the two technologies gaining the most in terms of new investments this year are data lake or lakehouse and data fabric or mesh, with both seeing a 5% increase in the number of organizations planning to invest in 2023. These platforms facilitate better access to business 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 28% building and purchasing tools to support analytics. While organizations want to bring their own industry expertise to help design analytics, creating the tools themselves will likely result in a missed opportunity to acquire best-in-class approaches honed by technology vendors . IT managers should keep this in mind when considering where to spend resources in 2023.
- Supported digital processes – Organizations are still investing in the digitization of tasks and processes. They also learned that digital transformation has no definite end state but is rather an endless evolutionary process.
Based on the survey data, more companies may now have gone through the initial phase of digitalization and move on to the next phase of sustaining their efforts. For example, last year more organizations (eight out of 10) reported digitizing more than 20% of their processes. In this year’s survey, the number is down, with seven in ten respondents saying they have digitized between 0% and 20% of their processes in the past year.
Efforts will be needed to maintain momentum, as will new tools and working methods.
- ESG analyzes and reports – In 2023, public companies are expected to be required to report their carbon emissions by financial regulators in places like the UK, EU, US and Canada. However, many organizations are still behind on this issue, even as various regulators around the world are implementing or approaching these reporting requirements.
Less than a quarter of IT professionals say their organization can accurately report the impact of its ESG initiatives, and 43% say their impact reports are inaccurate. Reporting accuracy was even worse for carbon footprint reporting, with 46% saying their organization could not accurately report its carbon footprint. IT managers will need to improve on this front to be compliant.
- Zero Trust Security – Zero trust means full access to the bare minimum. This approach is particularly important as we have just suffered a series of software supply chain attacks over the past two years.
Just over half of respondents said it was likely or very likely that a cybersecurity incident would disrupt their business in 2023. Disruption due to new government security regulations was the second most common concern , with 40% saying it was likely or very likely. to disrupt business.
As the frequency and impact of attacks increase, enterprises are turning to the concept of zero-trust networking to defend against threat vectors.
- Preparing for the recession – In addition to new technologies that could drive innovation and all subsequent risks that IT must strive to mitigate, a financial risk to the IT budget looms for 2023. This risk reduces the extent to which IT can seek growth opportunities and provide protection against regulatory burdens and bad actors.
Despite the negative signals, most IT pros expect their budgets to increase in 2023. Fifty-five percent of respondents expect a larger budget next year; 28% expect an increase between 6% and 15%, and 8% expect an increase between 16% and 30%. Interestingly, IT professionals in the US are more optimistic than their international counterparts, as 70% expect a budget increase in 2023, compared to 55% for the global average.
The 2023 Tech Trends report also includes information in the form of case studies from technology experts from organizations such as Cisco, Walmart Canada, Glitch Goods, Children’s Specialty Hospital, Albemarle Corp and Edgeless Systems.
This trends report will inform the company’s next major release, the upcoming CIO Priorities 2023 report. This resource, due for release in early 2023, will dive deeper into recommended features that will help organizations respond to each emerging trend.
Download and read the full 2023 Technology Trends Report for insights into the year ahead.
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About the Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading information technology research and consulting companies, proudly serving more than 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT managers make strategic, timely and well-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, ensuring they deliver measurable results for their organizations.
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SOURCE Info-Tech Research Group