Tech Trends 2021: A financial services perspective
A glimpse into the future of financial services
The technologies that enhance our organizations and our lives are more powerful—and more essential—than ever before. Forward-thinking organizations, including those in financial services, understand the technological forces that surround them and look for ways to harness them for the benefit of all stakeholders.
Below we provide a financial services-specific take on Deloitte’s Tech Trends 2021 report, spotlighting the accelerating technology trends most likely to cause disruption over the next 18 to 24 months.
From the rise of strategy and technology becoming inseparable, to the rapidly disappearing boundary between the physical and virtual worlds, the trends we explore could have profound implications for business, finance, and society in the months and years to come.
Readiness and relevance scale:
We looked at each trend and assigned a value from one (low) to five (high) based on the trend’s relevance to and readiness for financial services adoption.
- Readiness: How ready are financial services organizations to address this trend over the next 18 to 24 months
- Relevance: How relevant will this trend be to financial services organizations over the next 18 to 24 months?
As business and technology strategy become increasingly inseparable, technology choices bear a greater role in enabling—or potentially constraining—organizational strategy. Leading firms are delivering significant franchise value by creating data-driven and technology-enabled competitive advantages.
As the C-suite increasingly views technology modernization as an imperative to enable strategic change, pioneering IT leaders are embracing new approaches, technologies, and business cases to revitalize core assets.
Pioneering companies are using advanced digital technologies, virtualized data, and cobots to transform supply chain cost centers into customer-focused, value-driving networks.
MLOps: Industrialized AI
To shorten development life cycles and industrialize artificial intelligence (AI), we must give way to MLOps: applying the engineering discipline to automate machine learning (ML) model development, maintenance, and delivery.
Machine data revolution: Feeding the machine
Achieving the benefits and scale of AI and MLOps requires tuning data for native machine consumption, leading many organizations to rethink data management, capture, and organization.
Zero trust: Never trust, always verify
A Zero Trust cybersecurity posture provides the opportunity to create more robust and resilient security, simplify security management, improve end-user experience, and enable modern IT practices.
Rebooting the digital workplace
The digital workplace represents a fundamental shift in the way work gets done. Organizations are embracing technology to optimize individual and team productivity, collaboration, and the employee experience at large.
Bespoke for billions: Digital meets physical
Driven to embrace digital faster than ever, organizations are recognizing that the ultimate “human” experience strikes a balance between physical and digital.
DEI: Tools for equity
Organizations have access to increasingly sophisticated tools to support their diversity, equity, and inclusion (DEI) initiatives across the talent life cycle and make decision-making processes more data-driven.