As we prepare to unveil our 2024 predictions, it is essential to reflect on the accuracy of our 2023 enterprise technology forecasts. At the onset of 2023, we made significant predictions across various tech domains including global tech spending, cost optimization, security, generative AI, cloud, blockchain, data platforms, automation, and tech events. It is now time to evaluate the outcomes of these predictions.
Global Tech Spending
Our forecast of a 4% to 5% growth in tech spending for 2023 was overly optimistic. However, we correctly anticipated the downward pressure on budgets, particularly for large companies, and the impact on government spending. Overall, we would evaluate our performance in this area as A-.
Cost Optimization
While we accurately predicted the continued trend of cost optimization in 2023, we underestimated the impact of project delays and the shift of budgets to generative AI experiments. Consequently, this prediction is graded as a B.
Security M&A
We accurately anticipated that security would be a major theme in 2023, along with downward pressure on valuations in the security market. We consider this prediction to be a B+.
Zero Trust
Our prediction regarding the significance of zero-trust security in 2023 was partially met with the challenge of operationalization. Nevertheless, the widespread seriousness among organizations about this topic earned us a solid B+.
Generative AI
Predicting the rise of generative AI as a replacement for the metaverse was a particularly successful forecast, as we accurately foresaw the momentum in AI investments and competitive platforms. This prediction earns us an A.
Cloud Expansion
We correctly anticipated the expansion of cloud to the edge and identified Cloudflare as a major beneficiary, earning an A for this prediction.
Blockchain
We accurately predicted that blockchain would struggle to gain enterprise relevance but overestimated the embrace of Ethereum’s solidity by developers. Therefore, we gave ourselves a C+ for this prediction.
Data Platforms
While we correctly predicted the focus on open formats and languages in the data platform market, we overlooked the growing theme of bringing AI to data, which affected our grade, dropping it to a B.
Automation
Our forecast for automation’s resurgence in 2023 was met with mixed results due to other factors, resulting in a B- grade.
Tech Events
We correctly anticipated the increase in physical events and the scaling down of larger events, earning us an A+ due to our long-standing expertise in event coverage.
Overall, our 2023 predictions earned us a solid B+. While not a poor score, we are committed to refining our approach to deliver even more accurate predictions for 2024, which will be unveiled in late January.
We express gratitude for the ongoing support of our production, podcast, and editorial teams, and we are dedicated to keeping our community informed through our weekly publications. Please stay tuned for our upcoming 2024 predictions.
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