Banking and investment firms will spend $623 billion on technology products and services this year, according to Gartner_IT. Which technologies are gaining traction? Read the press release here. Banking TechTrends CIO
IT spending by banking and investment services firms is forecast to grow 6.1% in 2022 to $623 billion worldwide. The largest category of spending is IT services, which includes consulting and managed services and accounts for 42% of total IT spending in the sector at $264 billion. The fastest growing category is software, with spending forecast to increase by 11.5% to $149 billion.
Currently, autonomic systems are mostly software-based in the banking context. However, humanoid robots are emerging in smart branches that are examples of hardware-based autonomous systems that cater to clients and customers. They could be applied in autonomous debt management, personal finance assistants and automated lending. Roboadvisors are essentially low-level autonomic systems, although there are still trust concerns due to their high level of automation.
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