As inflation rises across the globe throughout 2022 and into 2023, many in engineering, and specifically InfoTech, speculate potential impacts of recession on the IT industry. The following are some ways leaders in the Syrian American Engineers Association foresee impact on IT in 2023.
Revenue is predicted to remain stable and with minimal fluctuation. Because IT can help decrease the negative impacts of recession on businesses as a whole, IT initiatives are being prioritized and valued within businesses as a way forward. Automation and hyper automation programs help to reduce cost in other areas for businesses, so investment in this area is seen as strategic and important.
While inflation is at play in infotech markets, there is a higher reliance on artificial intelligence, robotics and automation, to alleviate the shortages in the much needed blue-collar labor force in industrial and manufacturing segments.
The white-collar labor force is naturally protected to facilitate and drive savings via automation and software. Top talent in InfoTech markets is in increasingly high demand. As previously stated, high-level infotech programs reduce costs in other areas of the businesses, and are therefore seen as strategic investment. White-collar labor force is at very little risk of losing employment during this time, even if cuts are made in other areas of the business.