Similar to health care’s push into telemedicine in 2020, changes brought by the pandemic are prompting a growing number of businesses to boost their information technology budgets.
With more information going digital, cybersecurity concerns—and related spending—are also on the rise.
IT budgets at companies around the world are expected to increase by 2% this year and by 3.6% in 2022, according to research released Monday by Gartner Inc., The Wall Street Journal reports. More than half (51%) of the executives surveyed plan to invest in business intelligence and data analytics tools, which will allow them to better forecast supply and demand changes—something that could be helpful given shortages many are now facing.
Forty-eight percent of companies surveyed plan to increase spending on cloud platforms, and two-thirds of the executives plan to invest more in cybersecurity to address the increased risk that accompanies quickly integrating remote teams and resources.
The faster pace of change is the new normal that businesses and IT departments are adapting to, said Monika Sinha, a Gartner research vice president.
Organizations that make changes to mold to this new environment could also see a payoff because of it. Read the full story.
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