Chief information officers said they are facing pressure to ramp up some tech investments and reduce others as fears of a recession mount, though they don’t expect tightening on the same scale as in previous downturns.
That’s partly because the Covid-19 pandemic and the rise of cloud computing have illustrated the importance of enterprise technology and digital transformation, CIOs said.
Discretionary spending such as proof-of-concept tests—which validate whether an emerging technology is ready for commercialization—could get pushed back, but businesses see more value than ever in tech that will enhance the customer experience and give them an edge in an increasingly tight market, executives and analysts said.
