Spending On Risk Management Will Reach Over $74 Billion By 2015

According to IDC’s Worldwide Risk Technology Spending report, worldwide IT spending pertaining to risk functions will reach over $74 billion by 2015. Growth in IT spending on risk management will outpace the growth of overall IT spending in financial services, and will top 15 per cent of total IT spending in financial services in 2012.

Key drivers that are fueling growth in risk-related technology and services investments, include regulatory uncertainty and compliance demands, mandates to improve overall corporate governance and financial performance across the financial enterprise, and the need to modernize and protect critical risk management infrastructures.

Michael Versace  (Research director, Financial Insights, IDC): Although our macro-economic assumptions continue to point to downward pressure on overall IT spending in financial services, in our estimation, the risk technology market is large and still growing at a good clip.





Just in

Microsoft joins OpenAI’s board with Sam Altman officially back as CEO — The Verge

Sam Altman is officially OpenAI’s CEO again, writes Alex Heath. 

AWS, Salesforce expand strategic partnership

Amazon Web Services (AWS) and Salesforce announced an expansion of their global strategic partnership, deepening product integrations across data and artificial intelligence (AI), and for the first time offering select Salesforce products on the AWS Marketplace.

Gulf Air exposed to data breach, ‘vital operations not affected’ — U.S. News

Gulf Air said its data was breached on Friday but its operations and vital systems were not affected, Bahrain's news agency BNA reported on Saturday, according to the report. 

Sam Altman to return as CEO of OpenAI — The Verge

Sam Altman will return as CEO of OpenAI, overcoming...