It’s a race among firms to go digital and those that get there sooner rather than later will benefit the most.
Firms are becoming more automated at a strong pace and if your firm isn’t then you should be in the market to make some changes.
Let’s evaluate Amazon so you can see what I mean.
They currently employ 400K employees and 200K robots. The key point is the number of robots has grown much faster than the number of employees.
How about Goldman Sachs.
They used to have 500 team members trading stocks. Now that number is down to 3 with a support team of 200 technology specialists.
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The strongest and best performing companies are going to be the ones that just so happen to be the most automated. Other firms won’t be able to keep up.
You firm needs to be ready for technology disruption and digital innovation.
How automated is your firm? Have you “hired” any digital workers yet?
PS. Read more about the Goldman Sachs trading desk transformation from this Bloomberg article.