Worldwide spending on Digital Transformation is forecast to reach almost $4-trillion in 2027, according to the latest update to the International Data Corporation Worldwide Digital Transformation Spending Guide.
“Digital transformation is no longer a discretionary investment: companies that want to be competitive and win in the digital economy are leading the way,” says Angela Vacca, senior research manager with IDC’s Data & Analytics Group. These use cases have something in common: all three are highly data intensive and rely heavily on AI, generative AI, and data and analytics technologies. The huge advances that financial institutions are employing are transforming their organisations into more effective, more customer-centric organisations that can respond more rapidly to changing customer demand and to a fast-moving macro-economic environment.