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Cloud & Infrastructure Market Narratives Heavy Industry CIO Budgets and Investment Priorities in 2024 Feb 25, 2025 This presentation highlights the key budgeting and investment priorities for heavy industry CIOs in 2024, with a focus on legacy application modernisation, talent retention, and the growing opportunity to enhance customer experience through digital-first strategies. Request to Download

This presentation highlights the key budgeting and investment priorities for heavy industry CIOs in 2024, with a focus on legacy application modernisation, talent retention, and the growing opportunity to enhance customer experience through digital-first strategies. 

 

Core Insights: 

Focus on legacy modernisation and cloud migration

  • Heavy industry CIOs are dedicating over 25% of their IT budgets to modernising legacy systems, recognising the need to reduce security risks and enhance operational scalability.
  • Cloud migration and the refactoring of legacy systems are pivotal to improving agility and security, ensuring that infrastructure can meet future demands and industry challenges.

Talent retention and development amid rising labour costs

  • With 18% of the IT budget dedicated to people, talent retention is a critical focus due to rising labour costs and the need for specialised expertise in the sector.
  • Investment in upskilling and automation is essential to maximise the…

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