The briefing examines how the information and communications (ICT) industry is performing globally and in the largest countries in terms of ICT output. The report also provides data for turnover, market size, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries in the region.
This report comes in PPT.
In 2022, the global ICT industry encountered new challenges marked by a slowdown in turnover growth. This deceleration was driven by such factors as worsening global economic conditions, soaring inflation and tightening monetary policies, which subsequently impacted investments in digitalisation and the demand for IT services. Nevertheless, looking ahead, the industry's growth is expected to stabilise as the rapid evolution of the digital landscape persists.
In late 2022, the American artificial intelligence (AI) research facility OpenAI released an early version of ChatGPT, an AI tool that utilises advanced technology to understand and generate text. Since its release, the global ICT industry has taken a new direction, with governments across the globe increasing their funding for AI research and competition in the field intensifying.
AI regulation is emerging in response to the rapid proliferation of artificial intelligence technologies and their potential impact on society. Currently the EU is preparing the world’s first comprehensive AI legislation, which will classify AI systems by risk and instruct various developments and use requirements. However, some European countries, including France worry about the law’s potential impact on the EU’s technological competitiveness.
Labour and skill shortages continue to have a detrimental impact on the ICT industry. The rapid pace of digital transformation increasingly requires professionals with high-tech competencies in areas such as data engineering, cybersecurity, computer science, and more. According to the European Commission, the EU is projected to face a shortage of eight million ICT specialists by 2030.
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