It is kind of surprising that IT, with its self references as fast-paced and innovative has taken so long to realize its own inefficiencies. IT (in the sense of internal computer systems for businesses) was greatly over invested starting in the 90s because the executives of the time were so scared. I remember stories of Hollywood executives who would ask their assistants to surf websites they were going to invest in and videotape it. They would take these video tapes home for 'research' the same way they would research actors, directors and movies to invest in. They completely didn't get it. So what did they do? They did what most people do when they are scared, they try to buy insurance. This insurance came in over-investment in all things technology both externally and internally, leading to huge IT departments that then used their bulk to buy more technology and increase their internal political might until all this over investment corrected itself in the legendary bubble pop.
I think when all is said and done, IT will be just like Payroll. When was the last time you met a person who works 40 hours a week processing payroll? They used to exist at every company - now everyone's checks come from ADP or PayChex. IT will be done by an outside company and will part of the budget for each person on the payroll. But of course I am a little biased...
Hmm, payroll - There is an industry to be disrupted...