| | DECEMBER 20234VOL 9 · ISSUE 5 - 1 · DECEMBER, 2023 PublisherOffice Editorial queries editor@ciotechoutlook.com To subscribeVisit www.ciotechoutlook.com/magazine/or send email to: subscription@cioreviewindia.comMagazine Price is Rs.150 per issuePrabhu Dutta A.R.N RayAlok ChaturvediManager DesignMagendran PerumalCirculation ManagerEditorial TeamCIOReviewIndia No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugheshpalya, Bangalore-560017Tushar DasSurbhi SumanManaging EditorAssistant EditorSudhakar SinghHima P MDesignersAdvertising queriessales@ciotechoutlook.comBangaloreTel 080 46441103Sales & MarketingRavi kalgiPrinted and published by Alok Chaturvedi on Behalf of Biz Print Media Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published at No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 Biz Print Media Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Nischal PradhanSamrat PradhanTejaswini P.NoidaTel 120 4639300EDITORIALA GROWTH DRIVEN BY IT ACUMEN In the year 2023, the dynamic landscape of the IT industry witnessed several concrete trends underscoring its ongoing evolution. Cloud computing continued to experience remarkable growth, reflecting a substantial shift from traditional IT infrastructure models to cloud-centric solutions. This transition allowed businesses to scale operations efficiently, reduce costs, and enhance flexibility. Artificial intelligence (AI) and machine learning (ML) went beyond just being buzzwords; they started transforming how businesses operate. The AI market grew rapidly and organizations started leveraging intelligent systems for data analysis, automation, and decision-making processes. IT leaders led from the front, orchestrating the integration of these technologies to drive innovation and efficiency. The escalating concern over cybersecurity became more serious, grounded in the reality of a rapidly evolving threat landscape. The global spending on cybersecurity increased substatially, highlighting the industry's commitment to fortifying digital defenses against cyber threats. IT leaders are now not just managing technological aspects but are crucial players in safeguarding sensitive data and ensuring business continuity. Another change was seen in the area of diversity and inclusion, which became pivotal in reshaping the IT workforce. According to reports, companies with diverse executive boards enjoyed over 30 percent higher profitability margin. IT leaders are recognizing the business value of diverse perspectives and are actively fostering inclusive environments to drive innovation. This shift goes beyond rhetoric, as evidenced by initiatives to bridge gender and cultural gaps in the industry. These facts underscore that the evolution of the IT industry in 2023 has not been merely anecdotal but it has been grounded in tangible changes. Cloud adoption, AI proliferation, cybersecurity investments, and a focus on diversity are shaping the industry's trajectory, and IT leaders play a critical role in steering organizations through this transformative journey. In this special issue, CIOTechOutlook brings to you the Companies of the Year 2023 that have made their mark in their domain with their technology acumen and industry expertise. These companies have kept abreast of the new technological advancements and have leveraged them to their full potential. Sudhakar SinghManaging Editorsudhakar@ciotechoutlook.com
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