Digital economy to hit half of national GDP by 2023: IDC

By Xinhua - Global Times Source:Xinhua-Global Times Published: 2019/12/12 22:03:41

People visit the China International Digital Economy Expo (CIDEE) in Shijiazhuang, north China's Hebei Province, Oct. 11, 2019. (Xinhua/Wang Xiao)



About 51.3 percent of China's GDP will be digital-economy-related by 2023 as the country's enterprises step up the digitalization of their businesses, according to a prediction made by global market intelligence firm IDC.

The research firm estimated that by 2025, at least 80 percent of China's new corporate applications will use artificial intelligence technologies.

Chief information officers will play bigger roles within companies by planning for innovative development, and there will be rising demand for professionals to ensure digital security and compliance, the Xinhua News Agency reported, citing IDC.

China is on a fast track to digitalization, and firms should devise future-oriented strategies to prepare for related changes, said Kitty Fok, IDC China's managing director.

Chinese firms' spending on digital transformation has expanded, accounting for 51 percent of their total information technology (IT) expenditure this year, according to a previous report from IDC and Chinese IT firm Inspur.



Posted in: INDUSTRIES

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