This data provides a better understanding of the potential of new technologies. Adopting them will not only create disruption in the jobs market but will have the role to improve the quality of the existing work of human employees. By 2022, the enhancement of existing jobs through technology may free up workers from the majority of data processing and information gathering tasks.
At the same time, technology adoption might also affect more complex tasks such as reasoning and decision-making as augmentation becomes common over the years as a way to supplement and complement human labor.
New technology, more importantly, can enable increased productivity across multiple industries. The way companies compete will be affected too, with more weight given to those able to leverage technologies as tools to complement and enhance human work, rather than competitive advantages focused on operations or the ability to attract talent.
There are three aspects you should focus on. These following infographics will show you how new technology adoption influences Financial Services and Investors Industry. Even more, these will show you the existing barriers created by new technology, and also portray the expected impact on the workforce.
Let’s start with a look at how technology adoption affects Financial Services & Investors. A huge share of analysis of the respondents from the industry indicated that, by 2022, their company was “likely” or “very likely” (on a 5-point scale) to have adopted new technology as part of its growth strategy.
Secondly, when we check out the barriers to adoption of new technologies, the five biggest perceived barriers to the implementation of new technologies across the industry become very clear, as ranked by the share of survey respondents.
Thirdly, here’s the expected impact of new technology adoption on the workforce. In this last chart, you can see the percentages representing the opinion of survey respondents from the industry who expect their company to have adopted the stated measure(s) over the 2018–2022 period as part of their current growth strategy.
Technological progress presents a real challenge to existing business models and practices. Despite their disruptive potential, these dynamic changes will act as a pivot towards growth for those organizations that will dedicate resources to overcome them.