State Street’s annual Growth Readiness Study* gauges the industry’s perspective on the opportunities and challenges to growth.

Here’s what we found:

Emerging technology such as cloud technology and cognitive computing is more important to achieving growth than ever. In fact, 48 percent of survey respondents cite this as a top enabler of growth over the next five years (up from just 18 percent in 2017). Yet, 68 percent still say it’s becoming harder to achieve growth.

Our industry has a remarkable capacity to reinvent itself. Firms must be ready to shake off old ways of doing things and embrace an innovation mindset — from developing a skilled workforce to implementing agile IT architecture.

In our research, we show how firms are using technology to reinvent their business and pave new routes to growth.

SEE THE RESEARCH

*The 2018 State Street Growth Readiness Study was conducted by Longitude Research in July and August of 2018. Respondents included 516 industry executives from 19 countries, spanning investment, operations and distribution roles, and representing institutional asset owners, asset managers and insurance companies.