The growing impact of technologies in PEST analyses

The growing impact of technologies in PEST analyses.

Mr. Luigi Pio Leonardo Cavaliere

Università di Foggia

ABSTRACT

The PEST analysis, as well as the SWOT or 5 Porter Forces Analysis, is typically used in the structuring of a new business and also in the strategic planning process, as an exercise in strategy and evaluation of the best paths to follow. The factor that has recently become increasingly important is that of technology. Big changes in the business world have always been associated with technological innovations of all kinds. Therefore, when analysing the environment, it is essential to be aware of the trends that can affect the direction of your business. Among some examples is it possible to list: a) New technologies that are emerging b) Sectors that have not yet renewed their technological background; c) Related sectors that are undergoing important transformations; d) Number of professionals available at the company’s technical level.

In particular, “Fintech” generally concerns financial innovation made possible by technological innovation, which can translate into new business models, processes or products, and even new market operators. The use of technology is a necessary element to make financial innovation possible. The nature of the relationship between technological innovation and financial intermediation is the subject of in-depth analysis - from different perspectives - in numerous public and private international forums, having regard to the impact that technological transformation is producing on the financial system on an international scale. The changes taking place in the financial services markets, driven by technology, have a far deeper and broader political-strategic scope than a mere redesign of specialized economic structures (primarily financial markets and intermediaries), as we know today.

KEYWORDS

Artificial Intelligence; Private Equity; COVID-19; Fintech.

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