International Data Corporation (IDC) is going to the IDC Kuwait CIO Summit 2023 on May 22nd at Courtyard by Marriott Kuwait City, Kuwait. Ahead of the Summit, GCC Business News spoke to Mr. Jyoti Lalchandani, Group Vice President & Regional Managing Director (META), IDC, to gain insights on the 2nd edition of the IDC Summit.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets.
Can you tell us about the IDC Kuwait CIO Summit that’s taking place on May 22nd in Kuwait City?
This year marks the 2nd edition of the IDC Kuwait CIO Summit, where we will be exploring the theme ‘Enabling the Digital Economy’s Leaders’. The Central Agency for Information Technology (CAIT) will support the event, with the agency’s acting director general, Dr. Ammar H. Alhusaini, presenting the opening address.
More than 250 delegates from across the country are expected to attend the event. We aim to establish a trusted platform that connects leading ICT executives from both the private and public sectors with the world’s leading technology and service providers to exchange ideas and engage in constructive dialogue.
And in addition to thought-provoking, in-depth discussions, we have also incorporated a variety of fun, exciting, and memorable experiences for our delegates to enjoy while at the event, all of which will help to ensure that this year’s edition stands out from the crowd.
What topics will this year’s agenda focus on?
The agenda for 2023 has been intricately tailored to provide organizations with the essential guidance they require to keep up with the shift toward a digital economy. Sessions will focus on pressing issues such as sustainability, the metaverse, Industry 4.0, customer experience, and digital sovereignty, while a series of end user–led “For the CIO by the CIO” panel discussions will showcase insights from some of the region’s most respected IT executives.
How do you see the economic outlook for the GCC region?
The outlook for the GCC region in 2023 is generally quite positive. With stable oil prices, we expect most countries to see GDP growth of around 3-4 percent. A major transformation is underway across the GCC, with economic diversification initiatives, modernization programs, and long-term national agendas all serving to drive investment and economic activity.
What are your predictions for the wider region’s ICT market?
IDC expects ICT spending in the META region to top $233.8 billion this year, an increase of 3.9 percent over 2022. We forecast this pace of growth to continue over the coming years to reach $259 billion in 2026 (see attached data for a detailed breakdown by country).
What are CIOs’ major digital transformation priorities for 2023? Can you also share some individual technology priorities (i.e., security, cloud, AI/data/automation, enterprise infrastructure)?
In order to successfully navigate through the gathering storms of disruption, CIOs will need to focus on strengthening the digital resiliency of their organizations so they are better positioned to not only survive but thrive in new market environments as conditions continue to change. Process automation, reengineering, and productivity improvements will be key priorities in this regard, while there will also be a sharpened focus on creating new digital business models and revenue streams through the establishment of industry ecosystem partnerships.
IDC research shows that 95 percent of organizations worldwide are now implementing digital-first strategies to support new digital revenue streams. And with organizations increasingly looking to derive a larger share of revenues from digital products, services, channels, and platforms, CIOs must work to deliver insights at scale throughout their organizations by building capabilities in data and enterprise intelligence. They will also come under mounting pressure to facilitate long-term hybrid work models and help their organizations to achieve their environmental, social, and corporate governance (ESG) goals through digital investments.
Related: IDC announces Central Agency for Information Technology as patron of Kuwait CIO Summit