Technology a cornerstone of economic health
Technology analysts Gartner have found that 60% of CEOs expect an economic boom during 2021 and 2022, while many expect economic levels to be the same as 2019 this year. Meanwhile, the 2021 Gartner CEO Survey: The Year of Rebuilding, states that many of these CEOs expect technology to be a cornerstone of the return to economic health. AI, blockchain and 5G connectivity were cited by respondents as being at the forefront of new developments and increased technology competition between the USA and China.
Research organisation ESI ThoughtLab also finds that AI is set to radically transform organisations; it finds that two-thirds of senior executives globally believe that AI will be vital to the future of their organisations, meaning they’ll increase their AI investment.
In addition, and although much hyped, the ledger technology, blockchain, is forecast to receive US$6.6 billion in spending during 2021, an increase of 50% according to research by the International Data Corporation (IDC) in its study Worldwide Blockchain Spending Guide. The IDC expects blockchain to maintain strong adoption up to 2024.
“This is an important time in the blockchain market as enterprises across markets and industries continue to increase their investment in the technology,” James Wester, IDC Research Director, said in a statement about the research. “The pandemic highlighted the need for more resilient, more transparent supply chains, healthcare delivery, financial services, and so much more, and enterprises around the world have been investing in blockchain to provide that resiliency and transparency.”
5G connectivity was set to have a stellar year of implementations in 2020 and, although the global lockdown has slowed momentum, it hasn’t entirely stalled these plans, with existing 5G users demanding greater innovation in both services and apps.