Nash Squared: Despite economic turmoil, Global tech spend grows at its third fastest rate in over 15 years, finds world's largest digital leadership survey

• But funding slows in rising tech like AI and Big Data – threatening innovation
• Fears over cyber warfare soar dramatically as assaults start to rise
• Over half of huge organisations hit by a cyber assault
• Shortage of tech expertise at all time excessive as pay calls for turn out to be unsustainable
• Women in tech shifting in a optimistic course, helped by hybrid working

LONDON, Nov. 3, 2022 /PRNewswire/ — Despite 87% of digital leaders anticipating an economic downturn, world tech spend this 12 months is about to develop at its third fastest rate in over 15 years, as over half (52%) of digital leaders count on their expertise funds to rise, and solely 12% count on their funds to fall, finds the world’s largest and longest operating survey of senior expertise choice makers. 

But the Nash Squared Digital Leadership Report, in collaboration with CIONET discovered funding has slowed in rising tech like AI and Big Data, threatening alternatives to innovate by means of world economic instability. Although funding stays sturdy in cloud (63% reporting large-scale utilization), firms are chopping again their funding in all the opposite applied sciences (Big Data, AI/ML and RPA) which can be key to innovation and to gaining a aggressive benefit.

Bev White, CEO of Nash Squared stated:

“Economic headwinds are gathering and indicators are turning negative – but despite or even because of this, businesses know that investment in technology remains crucial. Both to maximise the efficiency of what they already have and to become more agile and responsive in highly unpredictable conditions, technology is the key enabler. But while technology investment intentions stand at their third highest level in over 15 years, nevertheless there are signs that some businesses are reining back on investment in areas like AI and Big Data. The reasons for this are understandable, but organisations should be careful not to cut back too deeply.”

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