Question 2Which of the following statements about the Digitalization of finance are correct?Select all that apply.1 pointDigitalization is the wider effect the digitization of products has on the industry. Digitalization shifts the focus from the creating of fortified market positions that can be defended to an innovation arms race where the only constant is change.The digital transformation of finance is something that is coming towards us: something that is likely to hit finance very soon.The digital transformation of finance imply a shift from one steady state to another.
Question
Question 2Which of the following statements about the Digitalization of finance are correct?Select all that apply.1 pointDigitalization is the wider effect the digitization of products has on the industry. Digitalization shifts the focus from the creating of fortified market positions that can be defended to an innovation arms race where the only constant is change.The digital transformation of finance is something that is coming towards us: something that is likely to hit finance very soon.The digital transformation of finance imply a shift from one steady state to another.
Solution
The correct statements about the Digitalization of finance are:
- Digitalization is the wider effect the digitization of products has on the industry.
- Digitalization shifts the focus from the creating of fortified market positions that can be defended to an innovation arms race where the only constant is change.
- The digital transformation of finance is something that is coming towards us: something that is likely to hit finance very soon.
- The digital transformation of finance imply a shift from one steady state to another.
Each of these statements accurately describes aspects of the digitalization of finance. Digitalization is indeed a broader effect of the digitization of products, shifting the focus from fortified market positions to constant innovation. The digital transformation of finance is not just a future possibility, but a current reality. And this transformation does indeed imply a shift from one steady state to another, as new technologies and practices are adopted.
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