{"id":3654,"date":"2017-11-16T08:00:23","date_gmt":"2017-11-16T08:00:23","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=3654"},"modified":"2020-02-27T09:01:13","modified_gmt":"2020-02-27T09:01:13","slug":"financial-services-firms-warned-unable-innovate-technologists-lack-boardroom-influence","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/financial-services-firms-warned-unable-innovate-technologists-lack-boardroom-influence\/","title":{"rendered":"Financial Services Firms Warned to Be Unable To Innovate As Technologists Lack Boardroom Influence"},"content":{"rendered":"
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Technology departments in financial services firms are unable to innovate with technologies like Artificial Intelligence and Blockchain because they have lost influence in boardrooms, according to leading Information Technology (IT) executives working in the financial sector.<\/p>\n
A survey of over 200 European IT decision makers commissioned by\u00a0Excelian, Luxoft Financial Services\u00a0reveals that 86% of respondents have recently championed a major digital project that failed because it did not get past the boardroom. IT executives believe misconceptions about technology by executives are partly to blame for these failures \u2013 78% agree that senior executives do not understand technology and 81% are frustrated by unrealistic demands to innovate with new technologies whilst also having to cut costs.<\/p>\n