Survey: Wall Street looks to cloud technology for its next bailout

Can new technology initiatives help pull Wall Street out of the danger zone? A new survey released by IBM and Securities Industry and Financial Markets Association (SIFMA) finds that IT budgets are tight on Wall Street, but things are loosening up, and there’s going to be plenty of demand for new technology initiatives in the near future as firms on the Street look to “transformational” solutions to help better manage risk.

The survey of more than 350 Wall Street IT professionals found a “significant” increase in interest in new technologies and computing models, in particular cloud computing, as firms seek to overcome budgetary restrictions and skills shortages. Almost half of the respondents now see cloud computing as a disruptive force.

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