Is Innovation Dead?

摘要

In this age of reregulating finance, innovation isn't the first word I hear when talking with industry professionals. Most are too worried about their jobs, organizations and the industry to think about innovation. When times are tough, firms turn inward. They focus on not making mistakes instead of advancing their field position. This tendency has been especially brutal for post-credit-crisis financial markets firms. Since 2009, TABB Group estimates U.S. financial markets firms have reduced their IT spending approximately 19%, and since its 2007 peak, spending has fallen more than 30%. Firms have consolidated, reduced head count, slashed bonuses, outsourced core systems to near- and far-shore operators, embraced open source, leveraged high-power and lower-cost servers, embraced cloud and hosted environments, and fought pricing increases like the plague.