re: IT's Reputation: Broken Bad
Another speaker at the CIO Summit, Dr. Howard Rubin, noted that corporate tech spending now exceeds $12,000 per employee, per year on average, and that's just IT, not to mention the many technologies that show up outside of the IT budget. The problem is that this baseline of spending and the platforms enterprises build up become inflexible and hard to unplug. Banks, for instance, are saddled with vast IT budgets that grew up over years, yet the financial crash suddenly changed the revenue picture overnight, making those IT expenditures unsustainable.
The key to the future, said Rubin, will be taking advantage of cloud, virtualization & innovative to introduce flexibility and curb rampant tech spending growth. Increases in compute power coupled with declining storage and processing costs have helped, but the money line from Rubin was "Moore's Law can't save your ass anymore."