Global Overview of the Information and Communications Industry

Delivery

This report comes in PPT.

Key Findings

Global growth decelerates

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.

AI takes a central stage

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.

Game-changing regulation ahead

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.

Looming ICT labour shortages

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.