2022 could be a glorious year
Throughout the year, I have written about business and technology and risk and compliance and more. Since this is the year end, let me look at people in this final edit. 2021 has no doubt been a disaster i n many ways for many p e o p l e . Wi t h o u t dwelling further, I also observe that it has been a tide that has lifted many people.
The talent demand has grown dramatically during the year, especially in some key areas like cybersecurity, data science, machine learning, payments, open banking, risk management and many others. All these areas have experienced a rapid level of growth and transformation, which is being powered only by human intellect. This tide has lifted those who are already in these areas and those have joined in recently.
Another interesting development is that more and more people are going ahead and doing short term courses to augment their knowledge and advance their careers. I see more and more posts on Linkedin where people post what new course they have done and got certified. This is a good indication that there will not be a situation of an extreme talent crunch in the years ahead. For institutes and organizations offering such courses, this a fertile ground. Banking Frontiers too offered a couple of master classes on AI in Financial Services. We hope to scale up these master classes further in 2022.
One area where most large financial organizations are hiring is at the frontline. Organizations that have a large customer base and are looking to expand further, are boosting their fontline workforce to acquire new customers and to cross-sell to existing customers. Technology helps engage with the tech savvy customers, but for the masses, a first-time purchase of an insurance policy or a mutual funds or a home loan will not be a click-click-click process. Even for the tech savvy, assisted models are growing for complex products.
So, let me end with the thought that 2022 promises to be a year of a variety of positive transformations – for individuals as well as organizations – and we at Banking Frontiers look forward to sharing such developments with all our readers.