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New Bain & Company Report Finds that Despite Intense Disruption, Investment in Tech Remains Paramount

The report provides a roadmap for executives navigating the continued decoupling of US-China relations, persistent semiconductor shortages and increased adoption of new technologies.SAN FRANCISCO, Sept. 19, 2022 /PRNewswire/ -- High-growth technology companies have been hit the hardest by recent market shifts, however 77% of companies are expected to either increase their technology budgets in 2023, or keep it the same, according to new research from Bain & Company. Bain's third annual global Technology Report released today shows that despite the current economic climate, technology will remain a critical investment and as a central source of productivity across global businesses.
New Bain & Company Report Finds that Despite Intense Disruption, Investment in Tech Remains Paramount
"Value is largely determined by innovation and revenue growth and today the technology sector has been hit hard," said David Crawford, leader of Bain & Company's Global Technology practice. "Still, CIOs and CTOs are increasing their technology spending. Increasingly business leaders view technology as an investment in driving productivity, speed and competitiveness even in difficult budget environments."As companies consider ways to leverage new technologies, they do so within the context of unprecedented geopolitical, macroeconomic and innovation trends. Some of the themes explored in Bain's latest report include but are not limited to:
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