Published: 24 January 2024
Summary
4Q23 ended with mixed results as end-of-year spending remained subdued. This creates a guarded view on 2024, with high-tech product leaders having to contend with generative AI and the need to reignite demand.
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Overview
Impacts
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The 4Q23 results have created guarded pessimism as there is no clear consensus on the strength of technology demand in 2024. High-tech product leaders are taking a different approach, including adopting a wait-and-see attitude, including continued cost management.
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Interest in generative AI (GenAI) remains high going into 2024, but the need for real opportunity and action is replacing the hype around GenAI in 4Q23.
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Reigniting demand, a primary focus for 2024, will require moving beyond a focus on current customers and solutions to open new markets.
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