Act now on innovation as disruption revolutionizes the rules
Act now on innovation
Investment - Management (IM) organizations are struggling to keep up with the unprecedented disruption of their markets and business models. The immediate need for strategic new approaches to innovation that will keep today's businesses on a competitive path to future grwoth and success has, perhaps, never been greater.
In the 2016 KPMG Global Ceo survey of 73 CEOs from the IM industry, nearly half of the IM CEOs surveyed, 47 percent, said they expect their organization to be "transformed" into a significantly different entity over the next three years. The IM industry is one that, traditionally, has not invested heavily in new technology, but as the rules of hte game evolve so dramatically, businesses can no longer sit back and rely on the status quo. The need to address transformative innovation is rapidly rising to the top of the agenda for many organizations and their boards, as they realize that the immediate challenges ahead are immense and unprecedented. Redefined business models and new competitors continue to fuel a major push toward advanced automation involving cognitive processes and artificial intelligence to improve operation efficiency and deliver improved products and services. The impact of digitization in all sectors, meanwhile is raising customer expectations everywhere - including IM - for instantaneous, around-the-clock access to services and information. On the regulatory front, there's the need to anticipate and respond to continuing regulation changes and compliance issues.
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