Artificial intelligence, robotics and blockchain are among the technologies that promise to revolutionise fund management. But how well is the funds industry prepared for these changes ahead? Funds Europe, in partnership with Metrosoft, surveyed the industry to assess how well it is equipped to manage technology changes – and what the priorities are for improvement in this area.
• 40% said that the most important step to better change management is to improve communication within their business.
• 24% said that better change management will result from long-term incentives based on achievement, rather than short-term goals based on profit.
• 43% said the single biggest threat to the funds industry is rising costs and shrinking margins.
• 72% said that suitable technology is currently available to support effective change management.
• 74% said this technology is available at affordable prices.
• 40% said that responsibility for managing change must be spread across employees within the company.
• 35% said that the largest obstacle to change within their business is a lack of resources.
• 39% identified a lack of end-to-end understanding of what change involves within their business.
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