Firstly, I must recognize my ignorance about this subject, which is increasingly present in the media, forums or social networks. I had to investigate a little to clarify myself, and to separate the wheat from the chaff. I have no doubt that there can be a bubble, but I also believe that in an incipient way there are changes in everything related to certain areas of banking management and economic and contractual transactions between companies.
It is called as Fintech those companies with a technological base applied and developed to provide services and solutions in the financial field. I know that this sounds very generic, but the truth is that the spectrum of initiatives included in this concept is very broad. Many start-ups are applying the full potential of today’s technology to compete in markets traditionally restricted to banks. We can find non-bank companies offering payment services between companies or individuals, loans, foreign exchange operations, optimization of treasury positions … and so on to a myriad of services, usually on digital platforms, offered in a more immediate, efficient and economical way.
Lately we are talking a lot about how in a near future the intensive introduction of technology in the workplace will result in the elimination of jobs that will be replaced by robots or various types of automation. There are many studies that differ in the degree of this impact, but according to the OECD (just to mention one), the percentage of jobs with a high risk of automation, and therefore of being eliminated, goes from 6 to 12% among the main developed countries. It is not very clear the time horizon in which this change (disruptive, they call it) will occur, although some speak of the next 10 or 20 years.
This post does not deal with measures and tools to control the expenses and to be able to balance the accounts and meet the budgets. I’m sorry to disappoint anyone who has understood that from the title. It is more related to another post I wrote recently in which I talked about how to configure the value of stocks. It seems to me that in that article perhaps I left an implicit message that I did not intend to disseminate: that of the existence of a single and absolute cost value.