This document discusses trends in IT assets and digital transformation before and after the COVID-19 pandemic. It notes that overall IT spending declined in 2020 and early 2021 but digital and cloud spending increased, driven by the need for resilience. It also summarizes that demand-centric assets transformed with cloud delivering on promises, while fulfillment assets and technologies like RPA, ML and AI are being revived and optimized post-COVID to meet changed demand. Infrastructure and services outsourcing is declining as security and remote work drive increased ringfencing of IT assets.