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The rise of change fatigue
The more things stay the same, the more they change
Gartner recently estimated that global spending on IT will exceed $5 trillion for the first time in 2024—8% year over year growth. All of this spend comes with additional costs, however, notably a rising organizational reluctance to initiate new projects due to change fatigue along with other key drivers.
The Ripple Effect of Change Fatigue
Change fatigue is more than a buzzword—it's a tangible force in IT spending. This hesitancy to embark on new ventures, due to an array of disruptions, has caused the deferral of many IT projects to 2024. It's noteworthy as it points to a broader industry sentiment where caution may sometimes eclipse innovation, and this pattern might extend into 2025.
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Cloud's Undeniable Financial Gravity
The cloud domain is set to witness more than a 20% increase in spending, marking it as a pivotal driver for IT expenditures. A dual effect of vendor price surges and heightened cloud utilization is the catalyst. This spotlight on cloud expenditure underscores its foundational role in contemporary business strategies and operations.
AI’s Footprint on Cybersecurity
While emerging AI technologies spark interest, it's the intersection of AI with cybersecurity that stands out. As AI's integration deepens, its associated risks become more pronounced. This sentiment resonates with a majority of CIOs, with four out of five intending to amplify their security investments in the next year. AI's influence has ushered in a renewed vigilance in enterprise security, signaling its paramountcy in upcoming IT budgets.