64% of Latin American companies plan to increase their investments in technology by 2025

64% of Latin American companies plans to increase its information and communication technology (IT) budget by 2025. And in that framework, the Artificial intelligence is consolidating itself as a driver of innovation, along with system migration and computer security challenges.

The data comes from the report “IT Market Review 2024-2025” developed by MagmaComms together with CIO Research during the month of last September and which included the participation of 100 C-Levels from technological areas of leading organizations in Argentina, Chile, Peru, Colombia, Mexico, Paraguay, Uruguay, the Caribbean and Central America.

On the other hand, the report highlights that 19% of the companies surveyed will maintain the 2024 budgethence only 7% will experience a reduction in investment intended for information systems, in all cases, measured in dollars in constant currency.

“Our research team identified an important information gap regarding the link between IT project decision makers and their suppliers in the region. “We decided to undertake this initiative with the purpose of obtaining the necessary data so that Latin American organizations can make decisions for their 2025 projects supported by data,” said Fernando Guevara, CEO of MagmaComms.

“Latin America shows an extremely heterogeneous scenario But in terms of information technologies, it allows us to find regularities and trends when understanding the link between CIOs and CTOs with their work ecosystems and this study identifies these trends,” said Cecilia Mosto, director of CIO Research.

Among the findings of the study, the fact that 90% of organizations consider as “very important” quality when contracting products or services linked to IT projectsfollowed by support (78%), strategy (47%) and delivery/implementation (45%).

In this way, the price, which could have a greater weight in decisions in contexts of economic contraction, remains in fifth place. “We identified that the level of maturity of organizations when considering projects leads them to don’t take risks in terms of contracting suppliers or, if they do, it is with technologies that seek their balance between real results and the promises of the futurists,” the study analysts explained.

This point is relevant for all projects, including those linked to artificial intelligencewhich continues to be an important driver of innovation initiatives in organizations: 15% are starting some implementation, 29% are working on pilot projects and 16% are evaluating their implementation. 29% already use it specifically, only 11% have been using it for a year or more.

Within the brakes that appear on the agenda of technology leaders, The availability of human resources with digital skills and computer security are two critical points that now they have measured the magnitude of their impact.

In this sense, talent shortage continues to be a relevant challenge for Latin American companies: the delay in the deadlines for the resolution of the incorporation of personnel can be extended up to 90 days, or even more, in more than half of the cases.

Cybersecurity, for its part, is the main concern of the executives. “End users have the ability to incorporate many free tools with security levels that do not necessarily respond to the parameters of the organizations and CIOs work on this movement constantly and reactively, while continuing with the innovation agenda of their businesses. ”, reveal the analysts.

Another challenging aspect is the adoption of the tools by users and resistance to the rapid advance of innovation. In this sense, organizations are increasingly inclined to hire companies that are experts in change management.

“This study demonstrates that the concept of ‘technological partner’, strategic and reliable, is increasingly important among executives in the region, and that is a call for attention for all those who are in this industry looking to build new links or develop those they already have,” Guevara explained.