In 1997, global companies spent $782 billion dollars on information te
chnology, including network equipment, hardware, software, technical s
upport and training, and the like. By 2003, that figure is expected to
rise to $1.7 trillion, making information technology the fastest risi
ng corporate expense. For the past two decades companies that have inv
ested heavily in information technology have generally shown a steady
rise in profitability, even though senior management has not been clos
ely involved in IT decisions. As the cost and the strategic importance
of this increasingly sophisticated technology has risen, however, top
management, particularly CEOs, have gotten more and more involved. We
asked Manny Fernandez, CEO of Gartner-Group, the world's foremost inf
ormation technology advisory group, to comment on this trend.