IT departments generally operate one level removed from the economic environment in which their business partners work. But smart CIOs and prudent IT groups should keep track of developments in the wider economy in order to anticipate and prepare for the challenges and opportunities their business partners will face. For these people, we have identified six shifts in economic trends that will have big impacts on most businesses over the next five years: 1) higher energy prices and an increased focus on energy conservation; 2) greater risks of disruption from natural disasters and terrorist attacks; 3) aging populations and retirement benefit crunches; 4) the cessation of housing as an economic growth engine; 5) moderately higher inflation and interest rates; and 6) accelerating technology globalization and slowing trade globalization. Each of these shifts in economic trends will have implications for the demands on and resources provided to IT.
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