RIYADH: In the Middle East, Turkey and Africa, investment in digital transformation is expected to more than double between 2021 and 2026, according to the most recent forecast from International Data Corporation.

The international technology research, consulting and events company estimates that over the next five years, spending in this area will grow at a compound annual growth rate of 16 percent, reaching $74 billion in 2026 and accounting for 43.2% of all investments in information and investment. Will go communication technology that year.

According to Jyoti Lalchandani, Group Vice President and Regional Managing Director, META Region, IDC, "For many organizations, digital and technology investments made to build resilience during the pandemic will be tested in 2023 across key business dimensions such as customer experience." , operations, and financial management, among others."

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“The key to separating the victims from the survivors will be the implementation of more digitization in critical areas and a more rapid shift to a 'digital business' approach.

No matter what the economy throws at us over the next 12 months, Lalchandani continued, organizations must stay focused on their digital goals.

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To move from manufacturing to increasing digital spending, he urged a focus on "obvious and measurable outcomes."

In fact, according to IDC, operating and scaling a truly digital business will account for at least 30% of the innovation C-focus suite by 2027.

Automation will be at the heart of this process, the expert predicted, to address labor shortages, reduce the cost of IT operations and accelerate innovation.

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IDC estimates that in 2023, organizations will spend eight times more on digital technology than the rest of the economy, laying the groundwork for them to drive operational excellence, competitive differentiation and long-term growth.