Clover Infotech brings to you a curated round-up of important technology updates for the month of October’23
#1 Gartner Forecasts Global Security and Risk Management Spending to Grow 14% in 2024
Worldwide end-user spending on security and risk management is projected to total $215 billion in 2024, an increase of 14.3% from 2023, according to new forecast from Gartner, Inc. In 2023, global security and risk management end-user spending is estimated to reach $188.1 billion. “The continuous adoption of cloud, continuous hybrid workforce, rapid emergence and use of generative AI (GenAI), and the evolving regulatory environment are forcing security and risk management (SRM) leaders to enhance their security and risk management spending,” said Shailendra Upadhyay, Senior Research Principal at Gartner…CONTINUE READING
#2 Oracle Fusion Cloud ERP Recognized as a Leader in the 2023 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises
Oracle has been named a Leader in the 2023 Gartner® Magic Quadrant for Cloud ERP for Service-Centric Enterprises for Oracle Fusion Cloud Enterprise Resource Planning (ERP). The Magic Quadrant report evaluated nine providers for their financial management, order-to-cash (O2C), source-to-pay, human capital management and other administrative ERP functionalities, including extending planning and analysis (xP&A) and project management. Oracle was recognized as a Leader for its “Ability to Execute” and “Completeness of Vision”…CONTINUE READING
#3 More Than 80% of Enterprises Will Have Used Generative AI APIs or Deployed Generative AI-Enabled Applications by 2026: Gartner
By 2026, more than 80% of enterprises will have used generative artificial intelligence (GenAI) application programming interfaces (APIs) or models, and/or deployed GenAI-enabled applications in production environments, up from less than 5% in 2023, according to Gartner Inc. “Generative AI has become a top priority for the C-suite and has sparked tremendous innovation in new tools beyond foundation models,” said Arun Chandrasekaran, Distinguished VP Analyst at Gartner…CONTINUE READING
#4 Oracle Named a Leader in 2023 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises for Eighth Consecutive Year
Oracle has announced that it has been named a Leader for the eighth consecutive year in the 2023 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises for Oracle Fusion Cloud Human Capital Management (HCM). Oracle was also placed furthest to the right for overall Completeness of Vision for the sixth consecutive year. Volatile markets, labor shortages, and elevated employee expectations continue to make it difficult for organizations to adapt, meet customer demands, and attract and retain workers…CONTINUE READING
#5 Google announces new AI features coming to Google Maps: Adds features like immersive navigation and more
Google has announced several new AI-powered updates coming soon to Google Maps that aim to help users plan trips, navigate unfamiliar areas, find electric vehicle charging stations, and discover new places and activities. In its official blog post, Google announced that it is starting to roll out Immersive View for routes in selected cities alongside a range of AI features, including easier-to-follow driving directions, Google Lens in Maps, and EV charging station availability, to help users confidently plan and navigate trips, make sustainable choices for their trips, and get quick inspiration for things to do…CONTINUE READING
#6 Gartner Identifies the Top 10 Strategic Technology Trends for 2024
Gartner, Inc. has announced its list of 10 top strategic technology trends that organizations need to explore in 2024. “Technology disruptions and socioeconomic uncertainties require willingness to act boldly and strategically enhance resilience over ad hoc responses,” said Bart Willemsen, VP Analyst at Gartner. “IT leaders are in a unique position to strategically lay down a roadmap where technology investments help their business’s sustenance of success amidst these uncertainties and pressures”…CONTINUE READING
#7 Gartner Forecasts Worldwide IT Spending to Grow 8% in 2024
Worldwide IT spending is projected to total $5.1 trillion in 2024, an increase of 8% from 2023, according to the latest forecast by Gartner, Inc. While generative AI (GenAI) has not yet had a material impact on IT spending, investment in AI more broadly is supporting overall IT spending growth. “In 2023 and 2024, very little IT spending will be tied to GenAI,” said John-David Lovelock, Distinguished VP Analyst at Gartner…CONTINUE READING
#8 Forrester’s Predictions 2024: Only 30% Of Firms in Asia Pacific Will Harness the Transformative Power of Generative AI
According to Forrester’s 2024 predictions, while most Asia Pacific (APAC) firms see generative AI (GenAI) as a lever for productivity improvement, their real stumbling block is a risk-averse culture and inadequate data management capabilities. Just 30% of firms that have more mature IT practices are strategically positioned to harness AI’s benefits, including enhanced productivity, greater operational resilience, superior customer experience, and business model innovation…CONTINUE READING
#9 Forrester’s Predictions 2024: Sixty Percent of Generative AI Skeptics Will Embrace the Technology — Knowingly or Not
According to Forrester’s 2024 predictions, 60% of generative AI skeptics will use and value the emerging technology in 2024, whether they realize it or not. Consumers who are GenAI skeptics will embrace the technology for tasks that enhance creativity and productivity, including seeking support from conversational assistants and translating and summarizing content…CONTINUE READING
