The world will spend more than $5 trillion on IT next year, according to a new report from research and analytics firm Gartner. Surprisingly, the real impact of generative AI will only be felt in 2025.

A new report from research and analytics firm Gartner looks at IT spending in the coming years. Next year they will be $5.1 trillion worldwide, an increase of eight percent compared to this year. Despite the increasing importance of generative AI, the financial impact of this technology will not be felt until 2025.

Punctual

Of course, AI plays a role in this report, but such investments are now becoming more of a part of general IT spending. According to top analyst John-David Lovelock of Gartner, companies continue to invest in AI and automation.

He believes that many CIOs realize that if generative AI is to have a real impact on global IT budgets, current AI projects will be critical to future strategy. Until then, surprisingly little will be spent specifically on this technology.

Money has to flow

Spending on software and IT services recorded the largest increase at 13.8 and 10.4 percent, respectively. This is thanks in large part to the cloud. Gartner expects investment in cloud services to increase by a fifth by 2024. The reason for this is a combination of higher prices and more usage.

Cybersecurity also impacts software spending. According to a Gartner survey, four out of five CIOs expect an increase in investments in this area.

According to Gartner, there is currently a kind of fatigue among CIOs. As a result, part of this year’s investments were postponed until 2024, which also explains part of the increase. Lovelock expects companies to focus more on efficiency and cost control. Projects that take a little longer to see results have now been put on hold.

Gartner is currently hosting its IT Symposium/Xpo event and has also released the ten technology trends for next year. Last month, the agency also unveiled its five technologies that will transform the business world