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CIOs Expect Tech Investments to Climb in 2021

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Bank of America's Cathy Bessant.

Many information technology executives told CIO Journal they expect tech investment to grow next year, as a result of the Covid-19 pandemic.

Credit: Wes Bruer/Bloomberg News

A survey of 45 information technology (IT) executives by CIO Journal found that many expect tech investment will grow next year, crediting the Covid-19 pandemic for justifying more investment.

Bank of America's Cathy Bessant said, "We feel that it's important to double down on technology investment in times like these."

Tata Consultancy Services CIO Abhijit Mazumder said the Indian software exporter is planning investments in areas like cloud delivery models, contactless operations, digital collaboration, and analytics.

Tech research and consulting firm Gartner forecast cloud-based IT infrastructure spending will balloon 27.6% to $64.3 billion next year; in a September Gartner study, nearly 70% of corporate boards cited the pandemic as justification for boosting IT and digital investment.

From The Wall Street Journal
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Abstracts Copyright © 2020 SmithBucklin, Washington, DC, USA


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