Gartner Inc. Chairman and Chief Executive Officer Michael Fleisher makes no bones about it – the IT industry is struggling.

“Fifty per cent of all tech brands will disappear over the next two years,” he told delegates at Gartner’s annual Symposium conference in Sydney, Australia earlier this month.

It’s a startling figure, but Fleisher believes the IT industry needs to face up to reality. “From my point of view, the return of the good economy is one of the silliest stories around,” he said, adding that the idea of a jobless recovery was simply “insane.”

“We may never return to the growth rates we experienced in the ’90s,” he said. “The IT industry must begin to accept 10 per cent growth as the industry norm, rather than the traditional 25 per cent or more that the market has experienced over the last decade.”

Fleisher advised delegates to use the downturn as an opportunity to realign business strategies.

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Jim Love, Chief Content Officer, IT World Canada