How can financial services professionals adapt to new technologies?

3 Be creative and innovative

A third essential skill for adapting to new technologies is creativity. Creativity means that you can generate new and valuable ideas, solutions, and products. It also means that you can apply your knowledge and skills in novel and useful ways. To be creative and innovative, you need to challenge your assumptions, think outside the box, and seek inspiration from diverse sources. You can also use design thinking, brainstorming, or prototyping to test your ideas and iterate your solutions.

4 Be ethical and responsible

A fourth crucial skill for adapting to new technologies is ethics. Ethics means that you can act with integrity, honesty, and respect. It also means that you can consider the impact of your actions on others, society, and the environment. To be ethical and responsible, you need to follow the laws, regulations, and codes of conduct that govern the financial services industry. You also need to be aware of the potential risks, benefits, and trade-offs of using new technologies, such as privacy, security, bias, or inclusion. You can also use frameworks, such as the Ethical Decision Making Model, to guide your choices and actions.

5 Be collaborative and communicative

A fifth vital skill for adapting to new technologies is collaboration. Collaboration means that you can work effectively with others, share information, and leverage diverse perspectives. It also means that you can build trust, rapport, and relationships with your colleagues, clients, and stakeholders. To be collaborative and communicative, you need to use the appropriate tools, platforms, and channels to communicate clearly, concisely, and persuasively. You also need to listen actively, empathize, and give and receive feedback. You can also use techniques, such as storytelling, visualization, or gamification, to engage and influence your audience.

New technologies are not only changing the financial services industry, but also the skills and competencies that professionals need to succeed. By developing these five skills, you can adapt to new technologies and enhance your career prospects and performance.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?