Software upgrades consume 28 percent of IT budgets

Large companies spend nearly a third of their software budgets on vendor driven upgrades and licensing changes. A survey reveals these costs add operational risks as firms race to adopt artificial intelligence.

Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration

Large United States and United Kingdom companies spend 28% of software budgets on vendor-driven upgrades, adding $12.87M in annual costs per firm.

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