Global IT spending and investment in artificial intelligence (AI) are bound to surge, and it will eventually fast-track the digital transformation. Contrary to fears of the market pushing down some IT stocks due to recession in major European and US markets, analysts do not seem overtly worried over IT spending. On the other hand, leveraging technology is seen as a way out of the crisis and fast-tracking digital transformation. European ICT spending will reach $1.1 trillion in 2022 and close to $1.4 trillion by 2026, driven by software investments, according to a forecast by IDC, a telecoms market research firm. However, the sector that is showing the most significant promise is artificial intelligence. IDC predicts the global market value of artificial intelligence solutions will reach close to $450 billion in 2022. If Indian...
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