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IT STRATEGY

Credit: Brittany Holloway-Brown, Photos: Adobe Stock

This year, IT pros may discover what’s global is also local, as economic uncertainty and worldwide conflicts translate into pinched IT budgets and a growing need to vindicate AI investments.

There has been no shortage of global strife lately. The ongoing US-Israel war with Iran has caused oil prices to jump, with national gas prices reaching over $4 per gallon, up from $3.17 a year ago. Meanwhile, the AI boom is driving up US natural gas and electricity prices due to data centers’ increasing energy demands.

Those aren’t the only prices going up. The US Department of Labor’s March Consumer Price Index report showed prices climbed 3.3% YoY. (And if that wasn’t enough, recession pop is making a comeback.)

Where does IT fit into all of this? Some experts say IT pros may feel the aftershock of global conflicts and economic issues at their organizations, if they haven’t already. A March Forrester trends report predicted rising energy costs and inflation will likely have an impact on IT budgets, for instance.

Check the numbers.—BM

☕️ Economic uncertainty hits IT budgets