Other parts of this series:
What does the future of work look like in the financial services (FS) sector? I am thrilled to have been invited to participate in a discussion of this topic at Sibos 2018 in Sydney on 24 October. It’s an issue every FS firm is wrestling with right now as the sector struggles to transform and avoid disruption.
There are some glaring issues. With intelligent technologies changing how FS firms operate, their offerings, and how they engage with customers—as well as ushering in a host of new competitors—FS will need a more agile, adaptive and tech-savvy workforce. But even though FS recognises the threat, it has been slow to react.
Accenture did some research, Accenture Future Workforce Survey, less than a year ago. We found that nearly two-thirds of insurers and three out of four bankers expect their industry to be completely transformed by intelligent technologies. They also believe only one in four of their employees is ready to work with these technologies. However, when we asked whether they’re planning to significantly increase their investment in reskilling over the next three years, only 4 percent said yes.
If FS firms have a clear vision of the future, they’re not taking the necessary actions to accelerate their progress toward that vision.
It’s going to be a lively discussion. Fellow panel members include William Borden of Bank of America Merrill Lynch, Sophia Wikander of Nordea, Samantha Turner of Westpac, Duena Blomstrom of Emotional Banking and futurist Katie King.
Join me at Sibos2018 if you are attending or look out for a link to the podcast when it becomes available.