VST ECS CXO Tech Summit 2023 Highlights Digital Transformation Challenges and Opportunities

VST ECS CXO Tech Summit 2023, which is being held at Dusit Thani Mactan Cebu from October 18 to 21, 2023, brings together Chief Information Officers, industry leaders, technology experts, and professionals from various sectors across the country to learn more about the ever-evolving landscape of technology and the critical role it plays in our world today.

Digital Transformation: A Key Enabler for Success

Considering that so many professional interactions and business transactions are now being done in the digital realm, digital transformation has truly emerged as a pivotal driver of success in the here and now.

Organizations are increasingly leveraging technology to streamline their operations, enhance customer experiences, and unlock new avenues for growth. It's no longer a matter of choice but a necessity for those looking to thrive and adapt.

VCT ECS CXO Tech Summit 2023 Dusit Thani Mactan Cebu
The keynote presentations for Day 1 and Day 2 of VST ECS CXO Tech Summit 2023 were held at the Grand Ballroom of Dusit Thani Mactan Cebu

The theme for this year's VST ECS CXO Tech Summit, "Digital Transformation: Growth and Resilient Cybersecurity," highlights the pressing challenges and opportunities that lie ahead. The conference also aims to shed light on the intersection of digital transformation and cybersecurity as well as AI and Human Interaction, addressing the need to harness the potential of technology while ensuring the security of our organizations.

An Ongoing Digital Journey

In his Opening Remarks to welcome all partners, speakers, delegates, and members of the media at the summit, Mr. Jimmy Go, President and CEO of VST ECS Philippines, highlighted the ever-evolving nature of technology, emphasizing that digital transformation is an ongoing journey. He aptly described how the lines between the physical and digital worlds are blurring, creating a phenomenon known as "phygital convergence."

Mr. Go also delved into the transformative power of Generative AI, a technology that is currently making waves in the tech world (Thanks in huge part to ChatGPT by OpenAI). He underlined the potential of AI to intelligently automate customer experiences and streamline internal operations, an advancement that promises far-reaching implications.

Additionally, Mr. Go mentioned Gartner's forecast that Smart Robots are on the verge of becoming everyday companions for 80% of the world's population. This transformation is expected to reshape how we engage with technology and our work routines. The swift incorporation of Artificial Intelligence and machine learning into various products and services was stressed, marking the progression of these previously groundbreaking ideas into essential aspects of our daily lives.

Jimmy Go VST ECS Philippines President and CEO
Mr. Jimmy Go, VST ECS President and CEO, giving his Opening Remarks at VST ECS CXO Tech Summit 2023

Modernizing IT Infrastructure and Investment Trends

As an insight from all the sessions of Day 1 and Day 2 of the summit, the importance of modernizing IT infrastructure cannot be overstated, serving as the foundation for embracing or acquiring the latest technology trends. 

The keynote presentations highlighted the significance of various technological developments, including Hybrid Cloud and Secure Virtual Workloads, among others. Attendees were also reminded that investments in Aritificial Intelligence, Connectivity Solutions, Digital Infrastructure, Cloud Technologies, Cybersecurity, Big Data, Storage, Automation, and Collaboration tools are vital to prepare for the ever-evolving tech landscape. 

VST ECS' Gold Sponsors for CXO Tech Summit 2023, namely, Adobe, Cisco, Cisco Meraki, Dell Technologies, Fortinet, HPE Hewlett Packard Enterprise, HPE Aruba Networking, Huawei, iBoss, Lenovo, Oracle, Palo Alto Networks, Trend Micro, VMWare, and yugabyteDB each specialize in creating solutions for the above-mentioned digital practice or infrastructure that industry leaders can invest in.

Strong IT Spending and Market Trends

According to a Gartner report, there is a remarkable resilience in IT spending, despite the absence of substantial GDP growth and the presence of high inflation in numerous countries. To provide specific figures, the data center systems market is poised to expand by 3.7% in 2023, with sales anticipated to reach $224 billion. What's truly remarkable is that this growth is expected to persist, with a projected year-over-year increase of 6.1% in 2024.

Furthermore, the device industry is expected to embark on a positive growth trajectory in 2024, with device spending forecasted to surge by 11% year over year, amounting to $759 billion. This expansion is partly attributed to the growing demand for faster devices, driven by the introduction of new Generative AI software.

The software sector is positioned for substantial expansion and is set to outpace other segments of the IT industry in 2024. Expenditure on software is estimated to surge by over 13% year over year in 2024, surpassing the $1 trillion milestone. Similarly, IT services are poised for robust growth, with spending expected to surpass $1.50 trillion, reflecting an annual growth increase of 10.2%.

Projected Global IT Spending in 2024
Global IT Spending is projected to reach a whopping $5.1 Trillion USD in 2024 with Communications Services, IT Services and Software leading all information technology categories.

Rapid Advances in Cybersecurity

This year's VST ECS CXO Tech Summit underscores the remarkable speed at which the field of cybersecurity is advancing. Cybercriminals are adopting AI technology to execute complex attacks, such as social engineering ploys, data manipulation, and deepfake deception. 

On the flip side, however, AI equips cybersecurity experts with improved capabilities for pinpointing attacks accurately, which in turn minimizes false alarms and enables responses that are grounded in genuine threats. It is evident that AI has its darker aspects, yet when administered effectively, it bestows significant advantages upon businesses.

The Responsibilities of CIOs and Tech Leaders

In this speech, Mr. Go emphasized the importance for Chief Information Officers (CIOs) and technology leaders to adopt a proactive approach in safeguarding intelligent systems. Their duties go beyond protecting conventional IT systems and extend to guaranteeing the strong security of devices that have now become essential components of our daily routines. It is imperative for them to engage in ongoing vigilance for vulnerabilities and integrate security as an integral element in the design of these systems.

A Summit For The Guardians of the Digital World

Chief Information Officers (CIOs) and technology leaders serve as guardians of the digital realm where seamless interactions between humans and machines take place. In today's world, their duty extends beyond their organizational borders to ensure the privacy, security, and welfare of all.

VST ECS CXO Tech Summit 2023
VST ECS CXO Tech Summit has become an annual gathering for Chief Information Officers and tech industry leaders, giving them an opportunity to learn from one another and to build friendships.

VST ECS CXO Tech Summit 2023 highlights the dynamic and transformative nature of technology for all stakeholders, especially for companies that are at the forefront of providing digital services to the general populace. The event underscores the prime role of technology in an organization's success, spanning from improving efficiency and productivity to fostering innovation and enhancing customer service. As technology continues to advance, those who embrace and adapt to these innovations - including the delegates of CXO Tech Summit 2023 - will emerge as pioneers in their respective industries.

As in previous years, this year's summit proves to be a hub of learning, camaraderie, and enjoyment, with attendees benefiting from the knowledge shared by speakers and fellow CXO peers. All VST ECS employees, sponsors, members of the media, speakers, and delegates are together in this journey of exploration, education, and adaptation. VST ECS CXO Tech Summit 2023 definitely serves as a guiding beacon as we all navigate this exciting but also perilous digital terrain.

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