IT is poised to play a new, more strategic role in companies, one that moves beyond support to create business value through technology-based business innovation and digital initiatives.
In fact, US technology stocks had their own frigatebird moment back in 2000, reaching a stock market peak on 27 March of that year. Last week the S&P 500 Technology index, having risen 20% this year, finally topped that high for the first time.
Alternative finance and funding models such as crowdfunding, online marketplace, crowdinvesting and crowdlending are gaining an exponential growth each year across the world.
However, I would argue that the anniversary to really celebrate didn’t happen until five years later, when a technological transformation profoundly changed our interaction with cash and credit.
Today, however, wealth management is one of the industries being rapidly transformed by technology, replacing what were once considered ‘core functions’, such as investment management and trust administration – with machines.
The Financial Stability Board (FSB), however, said that risks could "emerge quickly if left unchecked".