Individual firms and sectors are grappling with technological innovation in different ways and with different perspectives, with many welcoming the associated challenges and opportunities. It is inevitable that there will be winners and losers associated with technological innovation, both among incumbent firms and new entrants. 2.
Potential Outcomes for the Financial Sector I am struck by the conflicting forces at work in reshaping the structure of the financial sector. In one direction, economies of scale and scope may result in a higher degree of consolidation across financial services providers.