Future of Prudential Financial
CATEGORIES
- Asset Performance
- Innovation assets and pipeline
- Disruption vulnerability
- Company headlines
- Company’s future prospects
DATA ACCESS
Prudential Financial, Inc. is a US company whose subsidiaries offer investment management, insurance, and other financial products and services to both institutional and retail customers throughout America and other countries. Main products and services provided include mutual funds, pension- and retirement-related investments, securities brokerage services, life insurance, annuities, administration and asset management, and residential and commercial real estate in many states of the America. It provides these products and services to institutional and individual customers through distribution networks in the financial services industry. The company has operations in the Europe, United States, Asia, and Latin America and has organized its primary operations into the Financial Services Businesses and the Closed Block Business.
Innovation assets and Pipeline
All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page.
DISRUPTION VULNERABILITY
Belonging to the financial and insurance sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:
*First off, the shrinking cost and increasing computational capacity of artificial intelligence systems will lead to its greater use across a number of applications within the financial and insurance world—from AI trading, wealth management, accounting, financial forensics, and more. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white-collar employees.
*Blockchain technology will be co-opted and integrated into the established banking and insurance system, significantly reducing transaction costs and automating complex contract agreements.
*Financial technology (FinTech) companies that operate entirely online and offer specialized and cost-effective services to consumer and business clients will continue to erode the client base of larger institutional banks and insurance providers.
*Physical currency will disappear in much of Asia and Africa first due to each region’s limited exposure to credit card systems and early adoption of internet and mobile payment technologies. Western countries will gradually follow suit. Select financial institutions will act as intermediaries for mobile transactions, but will see increasing competition from tech companies who operate mobile platforms—they will see an opportunity to offer payment and banking services to their mobile users, thereby cutting out traditional banks.
*Growing income inequality throughout the 2020s will lead to an increase in fringe political parties winning elections and encouraging stricter financial regulations.