CIOs face tight budgets in new year

CIOs in healthcare and other industries are expected to innovate even as they deal with tight IT budgets in 2024, The Wall Street Journal reported.

Global IT spending is expected to grow 6.8% this year, down from its peaks of 11.4% in 2021 and 8.1% in 2022, according to International Data Corp. numbers cited in the Dec. 27 story. So IT chiefs plan to turn to technologies like generative artificial intelligence to do more with less.

"Every technology leader that I've talked to over the last many months feels the pressure to make sure that they're maximizing their dollars," Elevance Health Global CIO Anil Bhatt told the newspaper.

The payer intends to use generative AI to test code, saving 50% to 70% in costs on that process, according to the story.

"When you have the pressures of the economy, we're just very clear that we cannot do everything or be all things to everyone," Cardinal Health CIO Michelle Greene told the Journal.

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