Commonwealth Bank – the bed for innovation?

michaelharteAccording to CBA’s Chief Information Officer, Michael Harte (pictured), most companies “fast follow” they don’t innovate, especially the big ones.

They are too risk averse and mistake updating processes and incremental changes as innovation when really they are just managing to keep up.  “Australia tended to use technology to prop up diminishing returns industries such as manufacturing, mining and agriculture” with little support for “blue sky science to drive inventions”

Read the full article here of his frank and refreshing speech given at the AIIA Luncheon (Australian Information Industry Association) where he sets out the direction CBA are taking to stop, in his opinion the ingrained and traditional approach to business.

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