Prepare Your Business For These 5 IT Trends By 2023 [IDC Survey: Part 1]

Prepare Your Business For These 5 IT Trends By 2023 [IDC Survey: Part 1]

By Khadijah Patawari

May 3, 2021


This article is based on the research conducted by IDC (IDC FutureScape: Worldwide CIO Agenda 2021 Predictions). 

We’ve highlighted the top 5 IT trends that are expected to happen in the next 3 years to help you stay ahead of the curve by 2023.

Contents:


1. By 2021, 30% of CIOs will fail to protect their customer’s confidence due to their inability to adapt effectively

According to IDC’s survey, 63% of organizations are investing in cybersecurity. CIOs are expected to manage enterprise and ecosystem risks with a tight watch on company budget. 

But approximately 30% of CIOs will face the failure of protecting their customer’s trust. That’s ⅓ of businesses failing to meet the intense and diverse threats even with the added investments.

virtual meeting online call tech IT pexels

By 2021, Unable to Find Adaptive Ways to Counter Escalating Cyberattacks, Unrest, Trade Wars, and Sudden Collapses, 30% of CIOs Will Fail in Protecting Trust — the Foundation of Customer Confidence

IDC Prediction

IDC FutureScape: Worldwide CIO Agenda 2021 Predictions, 2021

What can you learn from this?

Gaining customer’s trust is the new ethical measure. It’s one that is earned and no longer merely assumed because “they know us”. Customers are bombarded with constant scams, cyberattacks, and news of unethical use of data even by reputed brands. 

CIOs are now expected to find adaptive measures to counter the negative byproducts of the pandemic. And the short and long term efforts should go beyond initial investments.

Suggestions for your action:

  • Rethink your risk management strategy for the New Reality;
  • Adopt proven frameworks like NIST data destruction;
  • Design your strategies by focusing on Trust Objectives;
  • Speak to a specialist on how ITAD can help with your company’s IT ecosystem and annual company budget.

2. By 2022, CIOs need to strengthen their enterprise's IT capabilities. (In data science, AI, human-machine interface, and advanced intelligent workflow design)

The IDC survey predicts 65% of CIOs will choose to digitally empower their companies. By focusing on strengthening your digital infrastructure your business could move swiftly through any change. This helps your teams to function autonomously. Allowing them to make effective decisions during times of uncertainty.

frontliner packing advanced technology IT support pexels

By 2022, 65% of CIOs Will Digitally Empower and Enable Frontline Workers with Data, AI, and Security to Extend Their Productivity, Adaptability, and Decision Making in the Face of Rapid Changes

IDC Prediction

IDC FutureScape: Worldwide CIO Agenda 2021 Predictions, 2021

What can you learn from this?

Your team of front-liners is in the best position to learn of any changes in customer behaviors and potential impacts on your business. Real-time data tools need to be consistently embedded into their workflows.

Your CIO would need to support this effort by integrating IT capabilities into your business’s ecosystem.

Suggestions for your action:

  • Ensure strategies, policies, and tools are in place to secure sensitive data;
  • Apply data security strategies to ensure proper usage and chain of custody;
  • Avoid critical gaps in your workflow by partnering with a specialist vendor, and also hiring and developing your team;
  • Plan for your team’s growth. Move gradually from directed digital workers to hybrid digital/human workers. Aim for your team to be self-governing digital workers;
  • Create efficiency by building COEs (centers of excellence). This is important to monitor workflows, data analytics and other tech upgrades your business needs.

3. By 2023, global crises will force businesses to re-conceptualize. Digital infrastructure will be the standard Business OS

Digital has now become the standard ‘Operating System’ for any enterprise. Businesses operating on a strong digital infrastructure stand out stronger than their competitors. Hone your entrepreneurial spirit to quickly put in place the change your business needs.

You’ll need to stay ahead of the curve and be ready to re-conceptualize your business instead of solely focusing on continuity.

man scanning package logistics IT tech support pexels

By 2023, Global Crises Will Make 75% of CIOs Integral to Business Decision Making as Digital Infrastructure Becomes the Business OS While Moving from Business Continuation to Reconceptualization

IDC Prediction

IDC FutureScape: Worldwide CIO Agenda 2021 Predictions, 2021

What can you learn from this?

Enterprise technology, mitigating risks, and optimizing costs are conversations that need to happen at the executive level. Plan for your business's growth strategy with the guidance of IT leaders.

Hire the right CIO or partner with an IT leader who embodies your business vision. Be willing to act quickly in the face of crises.

Suggestions for your action:

  • Think and act in scale. Invest in your business’s survival but aim for long-term recovery.
  • Use the influence of rapid iteration with tangible results. Measure and reevaluate your needs as your environment changes.
  • Build your knowledge base to better prepare against future crises. Start by working with line of business executives, experts, industry peers, and partners.

4. By 2023, 65% of enterprises will focus on building resilience through digital infrastructure and flexible funding for diverse scenarios

Unpredictable threats are becoming the norm today because they are largely unprecedented. It is imperative that your business prepare and mitigate risks in every form. Be it risks in economics, social, health, environmental, or even political.

man doing a presentation standing beside projector screen IT tech support pexels

By 2023, Global Crises Will Make 75% of CIOs Integral to Business Decision Making as Digital Infrastructure Becomes the Business OS While Moving from Business Continuation to Reconceptualization

IDC Prediction

IDC FutureScape: Worldwide CIO Agenda 2021 Predictions, 2021

What can you learn from this?

If you predict your business is at risk or has recently undergone a threat, you'll need to expand your focus. Choose to go beyond the stage of "business recovery".

Create “adversity centers” paired with financial flexibility and a strong digital infrastructure. Your business needs to be able to quickly move through the challenges and changes.

Suggestions for your action:

  • Invest in Data Excellence. Focus on the impact of your data management with data compliance, data security/privacy, and data risk.
  • Integrate secure data destruction and regular IT asset disposals into your strategy
  • Create a Focus-Team with concentrated efforts on your business’s adversity centers

5. Through 2023, 70% of CIOs will face the technical debt accumulated during the pandemic

Forced changes during the pandemic meant businesses had to react quickly to accommodate the shift. In the end, many took shortcuts to get IT solutions integrated into their business environment. Rapid implementation is unavoidable but must be continuously monitored to keep it under control. 

diverse group business meeting IT tech pexels

Through 2023, Coping with Technical Debt Accumulated During the Pandemic Will Shadow 70% of CIOs, Causing Financial Stress, Inertial Drag on IT Agility, and "Forced March" Migrations to the Cloud

IDC Prediction

IDC FutureScape: Worldwide CIO Agenda 2021 Predictions, 2021

What can you learn from this?

Your long-term solutions should be proactive instead of reactive. Accumulating technical debt is unsustainable in the long run especially if left unchecked.

Look for ways to integrate next-generation digital platforms that include flexible capabilities. Plan for the next curve of services and product experiences that benefits your workers and your customers.

Suggestions for your action:

  • Prioritize your emergency solutions into 3 main categories: Keep, Remediate, and Retire/Replace
  • Combine your digital platform initiatives with your efforts to eliminate technical debt
  • Partner or hire LOB executives and developers to delegate your business’s IT capabilities

Recap of the Suggestions

#1 Adapt effectively & protect your customer's confidence

  • Rethink your risk management strategy for the New Reality;
  • Adopt proven frameworks like NIST data destruction;
  • Design your strategies by focusing on Trust Objectives;
  • Speak to a specialist on how ITAD can help with your company’s IT ecosystem and annual company budget.

#2 Strengthen your enterprise's IT capabilities

  • Ensure strategies, policies, and tools are in place to secure sensitive data;
  • Apply data security strategies to ensure proper usage and chain of custody;
  • Avoid critical gaps in your workflow by partnering with a specialist vendor, and also hiring and developing your team;
  • Plan for your team’s growth. Move gradually from directed digital workers to hybrid digital/human workers. Aim for your team to be self-governing digital workers;
  • Create efficiency by building COEs (centers of excellence). This is important to monitor workflows, data analytics and other tech upgrades your business needs.

#3 Re-conceptualize your digital infrastructure

  • Think and act in scale. Invest in your business’s survival but aim for long-term recovery.
  • Use the influence of rapid iteration with tangible results. Measure and reevaluate your needs as your environment changes.
  • Build your knowledge base to better prepare against future crises. Start by working with line of business executives, experts, industry peers, and partners.

#4 Build for data resilience

  • Invest in Data Excellence. Focus on the impact of your data management with data compliance, data security/privacy, and data risk.
  • Integrate secure data destruction and regular IT asset disposals into your strategy
  • Create a Focus-Team with concentrated efforts on your business’s adversity centers

#5 Remediate technical debt

  • Prioritize your emergency solutions into 3 main categories: Keep, Remediate, and Retire/Replace
  • Combine your digital platform initiatives with your efforts to eliminate technical debt
  • Partner or hire LOB executives and developers to delegate your business’s IT capabilities

SPW is Asia's go-to solutions provider for data destruction, data erasure, IT asset remarketing, and environmentally-responsible IT asset disposals. Contact us and learn how you can incorporate an ITAD strategy into your business today. 

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