Which industries are the slowest to adopt new technologies?
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Insurance in NA has seen one of the most slowest adoption of technologies. In fact, when we did study of some of the large Insurance carriers, we found them to be atleast 5-7 years behind mid size banks from technology and business process maturity perspective. Some of them have started to invest considerably in past few years to catch up, and they are progressing well. But a majority is yet to even make a decision. Insurance as industry lives off a cash flow as people continue to pay premium of their policy and often don’t change policies unlike in banking or retailers.
It all depends on the leadership.. The industries which were considered thoroughly traditional are doing more in technology than the so called new age organizations..
Any industry that is capital intensive, in the public sector or deals with regulated workflows(construction, manufacturing, oil and gas, transportation, healthcare) will generally be resistant to adopting new tech. These industries look at tech as cost cutting and efficiency improvement levers rather than strategic investments. This is changing in the transportation and manufacturing sectors lately thanks to the likes of Uber and Tesla.
In my opinion, I think it's the construction industry.
Agricultural industry