IT Spend Forecast 4Q23: What to Expect in 2024 and Beyond

Generative AI (GenAI) marks the start of the next industrial revolution, but AI made little impact on near-term IT spending. For a technology that added new heights to the peak of inflated expectations, how can total cumulative spending on GenAI from now until 2027 be merely $3 trillion? GenAI blindsided organizations and boards, and CEOs are being cautious with their spending. Gartner expects 2024 to be the year of planning for GenAI, although IT spending will be driven by more traditional forces, such as profitability, labor, and a wave of change fatigue. This complimentary IT webinar breaks down the final IT spending data from 2023 and what the numbers say about what could lie ahead in 2024. Technology and service providers will get a better sense of where enterprises could focus their IT spend in the new year, factoring in technology sectors, industries and regions.