With over decades of software development and with astronomical amount of data been transacted, stored, analyzed, data-warehoused and data-mined, the IT industry has almost stagnated with respect to development of new software. The ones which are new ; basically provide out of box features to the existing software. There is nothing much left to newly invent in software. So the next challenge IT is facing is the Integration of these applications. This is because the business world is now all about Mergers & Acquisitions.
Hence, the true challenge lies in the fact that how IT can enable smooth transition and integration of various business process across different organization merging. This would reflect the potential role IT plays in any organization.
I wouldn't be surprised if SAP ( leader in proving tools and apps for this purpose) emerging as the biggest entity overtaking giants such as Microsoft and Sun-MircoSystems!!