Global Services Sector Is On the Cusp of a Major Disruption
Taimur Hyat joins Sky News International to discuss the many ways the global services sector is vulnerable to technological disruption.
Technological disruption is coming for the services sector. But the blueprint may look nothing like what happened when tech reshaped manufacturing and retail.
In an article published by Institutional Investor, Taimur Hyat, chief operating officer at PGIM, shared insights from the Fall 2021 installment of PGIM's Megatrends research series, Reshaping Services The Investment Implications of Technological Disruption. During the interview Hyat highlighted how technological advances are dramatically reshaping the services sector across financial services, healthcare, and transportation and logistics. Hyat also warned investors of the hype around technologies such as autonomous vehicles, pointing out that investors need to be aware of the stances of regulators in different countries. In China, for example, there is a lot of regulatory support behind autonomous vehicles, while in Europe, there are serious concerns about the employment impact that self-driving vehicles could have on the workers who currently operate traditional means of transportation, such as truck and taxicab drivers.
Reshaping Services
The impending wave of technology-driven disruption in the services sector will offer long-term, active investors ample opportunity across a host of industries.
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