2019 is off to an exciting start, never a dull moment. The US economic growth is expected to slow from 2.9% to 2.5% in 2019 due to tighter financial conditions and a fading fiscal stimulus, according to Goldman Sachs Research. The forecast also calls for multiple rate hikes as the Fed looks to keep the economy from overheating amid rising inflation and unemployment on a downward trajectory towards 3% by early 2020. The global economic outlook is shifting, which could lead to new turbulence in markets and the government in 2019. Corporations will have to look more deeply into their financials and operations to analyze how they can become more efficient, save more money, and improve revenue and profitability. It will be a year of less growth and more uncertainty. IT will play a large role in how well corporations execute this year and we have multiple challenges as always. The big one is resources, considering we have another wave of retiring baby boomers, less IT Resources, and increasing demand for IT talent.
Corporations will have many important decisions over the next year, like whether to outsource their teams, migrating to the cloud to reduce costs, and where to simplify their IT operations. They must make these tough decisions all while delivering better, faster, and cheaper innovative solutions.
As a SIM member and also part of your company's leadership team, you are well positioned to make a big difference in in 2019. With life's frantic pace and limited time, it's important to also prioritize your investment in YOU. This year, schedule yourself to get more involved in SIM and attend as many of the events as you can. Learn directly from your peers about how they are handling similar challenges that you're experiencing, meet new people and build your network. The Chicago SIM Chapter is one of the largest in the U.S. and nationally SIM has over 5,000 members across the country. Each year we have continued to grow the chapter and take events to the next level. Our programs schedule for 2019 is fantastic so please don't miss out! Last week we kickstarted the year with an incredible and well attended event at the Mars Gallery for the annual Winter Social, where we donated $5,000 to the Chicago Arts & Business Council. Please register for the upcoming SIM Innovation Discussion on February 19th and the CIO Roundtable which is taking place on March 5th.