Information technology provides companies with the ability to process large amounts of information and do so in a way which presents the information in a clear and concise manner to employees. Anticipated benefits of implementing an information technology system include improvements in productivity, better profit performance, and a higher degree of accuracy among information within the firm. The ability to share information among employees is also enhanced.
Computers have become smaller over the decades, and now personal computers are often linked together across wide geographic areas to create networks. These networks provide additional benefits to organizational performance, such as data integrity and enhanced productivity. By using a broadband network, users can share a greater range of voice, data and video services, including videoconferencing. Software has kept up with advancements in hardware so that today's office productivity packages make it easy to create multimedia "documents" which can be sent across an internal network, or the Internet.
Productivity typically improves in organizations which implement information technology, although there can be some loss of productivity during the "learning curve." Data integrity is greater when companies take advantage of the benefits that information technology offers, and displaced employees can often be relocated to the MIS department (which now typically has a greater demand for workers).
The outlook for the future of information technology is continued advancement in hardware technology complimented by advances in software. There is likely to be increased implementation of broadband networks in order to facilitate the transfer of multimedia information, and neural networks, which are particularly effective in environments with high levels of uncertainty, are also likely to continue to be developed.
Within investment banking, there is likely to be increased use ...