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The head of IBM is convinced that the technology industry will survive the crisis more easily than others.

Published: 2023-01-19

IBM CEO Arvind Krishna is one of those rare business people who are moderately optimistic about the near future. According to his forecasts, in the coming years, the technology industry will grow 2-4% faster than GDP. Companies in the IT sector will be more resilient than others to global economic turmoil, he is convinced.

The corresponding statements were made by the head of IBM from the rostrum of the WEF in Davos, according to the Nikkei Asian Review. According to a PwC survey of 4,400 CEOs worldwide in October and November last year, about three-quarters of them expect economic growth to slow down over the next 12 months. Results like these make the poll the most pessimistic in more than a decade.

“Everyone will move towards digital transformation, as this is the only way to scale a nation or a company without significant labor costs,” said the head of IBM. This trend is tied to the global demographic situation, he added. Last year, China's population declined for the first time in 60 years, and even India, according to Krishna, will stop growing by the middle or end of this decade. “This is a great set of features, and technology can help a lot,” the head of the company summed up.

In the near future, as the head of IBM expects, the demand for business services to consumers, who have been booming during the pandemic, will adjust slightly, but business services to business will be in high demand. The company just specializes in the last segment of the market. In geographic terms, there are now good prospects for investment in Indonesia, India and some countries in the Middle East.

Assessing the state of relations between the US and China, the head of IBM stressed that he is a staunch supporter of active international trade and globalization, and in this sense he does not welcome any sacrifices for the sake of geopolitics. Directly, IBM intends to invest in China for another 30 years, having already gone a proportional way earlier.