Information technology (IT)
What is Information Technology (IT)?
This is the use of computers to store, transmit and study data, for example within a business or other enterprise. The IT sector is expanding rapidly in the UK, with the tech industry currently employing around 1.5 million people.
Where have you heard about IT?
We all use IT every day, whether it's at home or at work. It's also a popular sector for investors, making up a big proportion of stock market indexes like the FTSE 100.
What you need to know about IT.
IT is often used as a synonym for computers and computer networks, but in broader terms it can also include other technologies such as TV as well as office automation and telecommunications . The UK's Information Communications Technology (ICT) sector is worth £58 billion annually. For investors, one of the most popular funds for investing in IT firms is the Technology Select Sector SPDR Fund, an exchange-traded fund set up in 1998 to track the IT sector of the S&P 500.
Find out more about IT.
From a business perspective, one useful branch of IT is information management technology. Find out more with our guide.