GOING by the various global developments resulting from several adoptions of technology base solutions to tackle human challenges, Information and Technology (IT) spending in emerging markets, including Africa, Asia/Pacific (excluding Japan), Central and Eastern Europe, Latin America, and the Middle East is projected to briskly outpace that of developed economies.According to findings by the Institute of Software Practitioners Of Nigeria (ISPON), IT spending in emerging markets will reach almost $440 billion, an increase of 10.4 per cent over 2010 ' and 2.6 times the growth rate in developed markets.ISPON said intellectual capital grossly enabled global IT spending in 2011 was estimated at $1.6 trillion, an increase of 5.7 per cent, adding that going by the spate of ICT adoption, IT spending in emerging markets, including Nigeria will outpace spending in developed economiesMeanwhile, President of the software development body, Dr. Chris Uwaje has confirmed that former Executive Vice Chairman, Nigerian Communications Commission (NCC) and Chairman of Open Media Group, Dr. Ernest Ndukwe will chair this year's ISPON President's Dinner.According to Uwaje, the event comes up this Friday, March 16, 2012 at the Federal Palace Hotel, Lagos, with the theme: 'Software Intellectual Capital: An Economic Model for National Survivability.' Ndukwe will raise ideas on delivering sustainable solutions to the nation's knowledge industry.ISPON noted that today, ICT, the Internet and technological advances continue to reshape governance, power, redistribute national resources, transform government, education, culture and the way we work, competition and economic pressures create quicker and more efficient ways to do business.The software development body posited that, the reality of increased and quality information for economic and national survivability remains a fundamental concern to all nations of the world. 'Software, in particular, has become not only the critical vehicle but indeed, the centre of gravity of humanity's quest to unravel the complex equation presented by the new economy, knowledge acquisition and the development processes for the emerging Information Society (IS).'Today, leaders and decision makers in government, education and business find themselves trapped in the complex spider-web of knowledge engagement ' looking for digital solutions.'Emerging markets' contribution to IT industry growth (that is, new spending above the prior year's level) is even more impressive; the prediction is that in 2011, these markets will generate over half (54 per cent, to be exact) of all net-new IT spending worldwide and improve drastically in 2012', it stated.The keynote address would be delivered by a renowned intellectual giant and technology lawyer ' Mrs. Udochi Iheanacho of Iheanacho & Parthers ' Legal practitioners with international experience.ISPON, through its yearly President's Dinner, said it hopes to create an enabling society for the advancement of a knowledge society through software development throughout the federation, which would lead to economic advancement of the nation.
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