Disruptive emerging technologies are going to play a crucial role in reshaping business models as these can transform the economics of all the organisations
Indian IT budgets are likely to increase by 3.9 per cent in 2019, witnessing a decline as compared to 7.4 per cent growth recorded in the previous year, according to the findings of an annual global survey of CIOs by research firm Gartner, Inc.
“This slowing can be attributed to the larger macroeconomic situation concerning slow economic growth, corporate earnings and market volatility, Gartner said.
However, on the global level, CIOs estimates that their budgets on IT are expected to grow by 2.9 per cent next year. This is only a little lower as compared to the average growth rate of 3 per cent in 2018, the survey noted.
Digital business is evolving from tentative experimentations to mass-scale implementation all over the economy. CIOs have to advance their thinking to be in line with a new era of rapid growth at the scale of digital business, the survey said.
“CIO role will continue to be critical to digital transformation,” according to the 2019 Gartner CIO Agenda survey based on the data from over 3,000 CIOs in 89 countries.
Commenting on the survey findings, Andy Rowsell-Jones, Vice President and Distinguished Analyst at Gartner, said, “Indian CIOs should use their financial resources to make 2019 a transformative year for their businesses. Stay active in the transformation discussions and invest time, money and human resources to remove any barriers to change. Organisations that fall behind in digital business now will have to deal with a serious competitive disadvantage in the future.”
The survey highlighted that digital business has reached a tipping point in 2018. About 46 per cent of Indian CIOs said that their organisations have transformed their business models or are in the course of changing them.
Disruptive technologies to play a major role
As per the survey, disruptive emerging technologies are going to play a crucial role in reshaping business models as these can transform the economics of all the organisations.
On the question of which technologies will be the game-changers, 32 per cent of Indian CIOs and IT leaders said that data and analytics is the game changing technology, followed by artificial intelligence (AI) with 30 per cent.
Cybersecurity a major issue
According to the survey, cybersecurity becomes an all company issue. As many as 94 per cent of Indian CIOs thinks that cybersecurity threats are going to worsen. Therefore, it is necessary to develop a secure base for digital business that protects the organisation as well as clients.
The survey noted 62 per cent of CIOs said they are responsible for cybersecurity in their organsations. To enhance security against the cyberthreats, CIOs are combining steps to strengthen information-processing assets with efforts to impact the people using technology.