Join The Economist Events and Tableau for The future of work in financial services, a new virtual discussion, to predict the future of work in finance. Hear from finance leaders from across the sector as they discuss:
- Is remote work—at least in some form—here to stay?
- Are staff productive, and do they have the right skills to function effectively?
- What role should data and predictive analytics, AI and other technologies play in the future of work?
- How will this evolution change long-term talent acquisition strategies, company culture and customer relationships?
Covid-19 emerged during a complex evolution in financial services. Data and predictive analytics, cloud platforms, artificial intelligence and other cutting-edge technologies had already started to change the face of the sector. From the dawn of ticker tapes through to high-frequency trading, leading financial institutions have never shied away from disruptive tech. But the pandemic sped up adoption of new technologies, pushing financial services into a new era. Where is it headed?
Amid lockdowns and quarantines, firms had to rapidly move legions of traders, wealth managers, accountants and auditors into home offices. Getting them online and working was the top priority for IT managers. Security was equally high on the agenda. Tapping into secure servers without compromising valuable data had been the main reason staff had to turn up at the office, rain or shine. Now, risk managers and bond traders alike can seamlessly function in a cubicle or from their bedroom.
The next hurdle may be less straightforward. Finance has long been an industry reliant on the passing of shared knowledge and experience to train staff and improve decision-making. Wisened advice from managing directors or chief executives is treated as gospel for fresh graduates. Gauging a client’s comfort with investment plays over a drink or dinner has often been the difference between a deal and a failed pitch.