Digital transformation is not unique to one type of business or industry. Healthcare, legal, science, and finance industries are experiencing the change and evolution that comes with emerging technologies. This interesting information came to us from TDWI in their article, “CFOs Look to Automation and Data Analytics for Digital Transformation, Survey Finds.”
Just like those other industries, finance has also been impacted by the pandemic. Executives in the financial world were surveyed and the results indicated they see the pandemic conditions as an opportunity to adopt new technologies including advanced analytics, artificial intelligence (AI), machine learning and blockchain.
There is optimism and budgets may impact or impede that optimism, but those surveyed plan to focus more on cost savings than long-term investment. A typical potential roadblock to digital transformation is lack of support from corporate leadership. Things may have changed with the widespread support for investment in digital transformation.
Melody K. Smith
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