"The burden of legacy IT systems coupled with the issue of the innovator’s dilemma—namely, that companies critically need to know how and when to implement new technologies—implies that like many others, the asset management industry is mired in history.Lessons for everyone "
Martijn Moerbeek; Digital Strategy & Innovation Director L&G Investment Management
Moerbeek goes on to say:
At the same time, the structural trends identified in our previous article have diverted management’s attention from long-term growth to short-term survival. As a result, senior executives—who should be using their longtime experience to think creatively about business solutions—have of necessity become preoccupied with the day-to-day running of the business, while inadequate forward spend on digital skills and regulatory issues have further slowed things down. Add to this the high investment cost of innovation and change management, and it becomes apparent that although idea generation is one thing, execution of those ideas is quite another.
Instead of being agile like a butterfly you are chained like a pupa.
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If you have always wanted to be an Accelerator but been forced to be a Moderator by your current systems you can now make the leap meaning that: -
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Take the first step now and email: -
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In fact, those putting the brakes on adopting these new models—I’ll call them ‘moderators’ here—and those in favor of moving ahead with digitization and innovation—which we’ll call ‘accelerators’—are playing a tug-of-war. As in insurance, advertising, and many other industries, the clash between the old guard, who may have the business expertise but lack the technical understanding to be daring, and the IT-savvy innovators, has most often led to the compromise of a patchwork digital framework that’s part new and part old. In a world of exponential change in speed and capability in automation, this layered approach isn’t working—indeed, often leads to a standstill in innovation.