Positive outlook for tech sector predicted in CompTIA's IT Industry Outlook 2024
Technology industry giants and professionals express a positive outlook for the coming year, according to the IT Industry Outlook 2024 report released by CompTIA.
The outlook diagnosed strong sentiment and optimism across many sectors of the technology landscape, covering fields such as career opportunities, business possibilities, and an overall positive stance towards the tech digital sphere.
Furthermore, the explosion of generative AI, the escalating bulk of cybersecurity issues, and the transformation of recruitment and preservation practices are expected to majorly impact the tech industry's plinth in 2024. The report also predicts and reviews ten trends expected to shape the ongoing evolution of technology.
Seth Robinson, Vice President, Industry Research, CompTIA, stated, "Companies and individuals in the technology arena will have to decide for themselves which focus areas make the most sense for the goals they are trying to accomplish. The tools and the knowledge are there for the taking."
As predicted, there will be a substantial emergence of business applications incorporating AI across numerous tech products and business workflows. About 20% of tech organisations in Australia and New Zealand aspire for profound integration of AI, while another 68% aim to enhance their adoption of AI.
Likewise, this early stage of workflow evolution will AI managing routine tasks and enhancing automation, allowing human resources to chase strategic objectives.
Also, the pursuit towards skills-based hiring is anticipated to ramp up next year. This strategy enables employers to gain access to a wider and more diverse candidate pool. Based on the report, about 20% of tech organisations in Australia and New Zealand have well-defined hiring guidelines based on individual skills.
Improving the approach to career development is the subsequent logical step, said Carolyn April, Senior Director, Industry Analysis, CompTIA. "Companies will begin practising career transparency, ensuring that personnel managers have regular conversations that clearly outline for their employees the pathways to promotion or job mobility."
About 70% of tech professionals in Australia and New Zealand display keen or fair optimism about their professional journey, the growth of their organisation, and the broader tech industry. Paradoxically, the downside to the tech work environment appears to be stress, arising from the mounting complexity in the tech environment, constant cyber threats, and apprehensions tied to some job roles' outsourcing.
Most tech companies adopt a positive perspective of their prospects in 2024. Netted at around 68%, their optimism is mainly predicated on progress in their business and delivery on sales goals for the next year. Pessimism is mainly attributable to external factors such as inflation and ongoing labour shortage.
