NEW IT PARADIGM - Information Technology (IT) is defined as the study of systems for storing, retrieving and sending information. However, the role of IT is changing due to technology. We've listed below many foreseeable IT job responsibilities along with questions intended to inspire you to share your own views. The Q and A Task Force at Asset Managers Tech appreciates your interest in this trade group initiative.
- Technology Drives Buy-side Priorities. Is technology one of many top priorities in financial services or does it drive all of the top priorities?
- Tech Education. How important is tech education? What are the advantages of putting someone in charge of continuing tech education for all professional employees at your firm?
- Solid Commitment to Tech. Should a financial services firm tell its clients that it is committed to new technologies such as AI or is technology (with all its promises for the future) so engrained in business and society that you just need to do it?
- Colleagues Teach Tech to One Another. Is it true that the best way to learn about technology (whether it's your devices or AI at your job) is by face to face conversation with at least one person who is at least your equal when it comes to tech experience and aptitude?
- Tech's Problem-solving Capability. When tech pivots unequivocally, should business accept the results. For example, if the application of a new open source problem solving equation to a given set of data produces an irrebuttable statement of fact, is it okay to rely on that statement?
- Internal Audit Part of New Paradigm. What might the irrebuttable conclusion in question 5) mean for Internal Audit (IA)? Should IA be auditing those who work on and validate new algorithms? Is this indicative of the "new paradigm" in IT?
- C-suite Is Essential. What about the leaders of the firm, those who comprise the C-suite and the Board, do they go with the flow of the benefits of material change produced by technology ( i.e., the new paradigm) or should they attempt to manage the development of technology along with other routine executive level responsibilities?
- Relevance of Cyber Security. Can cyber security and today's new technologies, such as AI, be separately run enterprises at financial services firms as we head into the 2020's?
- Tech Success Depends on "All" Employees. In any event, what's the best way to reassure all current employees that they all have a role in this era of opportunity as everyone adjusts to new technologies?
- Expect Customers to Embrace Your Tech Achievements. What about customers and the firm's regulators and lawyers employed by the firm who have contact with regulatory officials, doesn't common sense dictate always having new talking points in place? Even more importantly, isn't the firm really getting all of these categories of critically important people to begin to embrace the firm's own acceptance of this next technology revolution?
We welcome industry volunteers at Asset Managers Tech, to work with our Q and A Task Force.
Please email Joe Sack, firstname.lastname@example.org
Joe Sack, President, Asset Managers Tech