I used to work on a start-up environment prior to getting into investment banking; it is an environment of cutting edge technology, latest innovations, and energetic people running around high on caffeine.
The day I started working at my new job, I found it hard to believe that our economy is run and controlled by people who are almost scared of technology and innovation. I am sure, you may think I am stating the obvious but clearly I feel that is the wrong approach.
Here are some of my observations:
- People use “search and destroy ” method to type reports and emails; they type one letter at a time on the keyboard with one finger of each hand.
- Windows XP is still the only operating system.
- People call the IT service for simple things like when they cant find an icon on the computer.
I can list a many more reasons but I hope my point is clear. If you were time traveller and happen to materialise in the middle of the office, you are bound to think you got your timing wrong by about 10 years.
You may think having windows XP is not a bad thing or IT service is there to help you with “IT Problem” and you may have a point. But my problem is that people who are so averse to technology and new trends make their living by commenting on companies and possible shifts in the markets. Sounds a bit hypocritical dont you think…
Do we need to be ultra-conservative interms of technology and innovation to make unbiased objective comments. Wouldn’t the use of new technology make operatios in the investment banking sector more streamlined, fast moving and more beneficial for the country.
If people are willing to make a shift their view point a little so that they are willing to accept new things I am sure it is a possibility and things will change for the better. But I doubt it is going to happen in a grand scale any time soon.
Signs of Change:
But there is hope. Even though most investment banks operate this way, there are signs that bigger players such as Deutsche Bank and Goldman are adopting new technologies and trends such as social media.
Deutsche Bank has a very big presence in social media. Furthermore, GS employees are also contributing to the revolution.
No less than the managing partner have contributed on quora about working at GS. These are unprecedented moves that shows things are changing.
Read the article here:
Lets hope that things will improve for the better.