Rapid technological advancements and shifting consumer expectations have the potential to reshape the financial services industry. At the Fidelity Center for Applied Technology (FCAT), our Emerging Technology team is tasked with staying ahead of these advancements and understanding potential future use cases.
Our approach to innovation is grounded in curiosity, foresight, and technical rigor to help Fidelity stay ahead of hype cycles, understand emerging products in the market, and the potential impacts of these technologies. We focus on research and building proof of concepts to explore the potential of new technologies to transform how customers engage with their finances and financial institutions through personalization and automation.
1. Detecting Emerging Technology Trends Early
The Emerging Technology team forecasts three to five years out, identifying disruptive trends early and offering insights that guide business planning. This approach helps Fidelity anticipate industry changes and stay ahead of rapid technological shifts.
The team has explored a wide range of technologies, including:
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Next generation user interfaces: Generative AI, multimodal AI and AR glasses, Digital twins, Avatars, data visualizations, immersive web, gaming technology, XR technology, brain computer interfaces
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Infrastructure and critical enablers: Private 5G, Cloud and edge computing, quantum computing, IoT, robotics
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Display Technologies: Immersive multi‑screen and large‑format LED environments; digital storytelling; synchronized panoramic media experiences; multi‑user, multi‑touch interactive surfaces; object‑recognition and tangible interfaces; camera‑based touchless and spatial interaction systems; dynamic digital signage and multilingual content displays; holographic and volumetric visualization
These technologies are often too nascent to be immediately incorporated into day-to-day workflows. Our team evaluates all components and processes to ensure we aren't just reacting to innovation but exploring how it could potentially be used for our customers and associates in the future.
Understanding the future impact of new technologies allows our team to help Fidelity business units anticipate shifts in customer expectations, regulatory requirements, and market dynamics so they can remain proactive, rather than reactive, to emerging technology trends.
2. Researching the Underlying Technology
Once a new technology takes priority for exploration, we begin with the technology itself and focus on understanding how it works, potential limitations, and the ways it might evolve in the future.
For example, the Emerging Technology team contributed to foundational research and development in areas, such as quantum computing, during a time where the practical applications and associated risks of these new technologies were not fully understood.
This foundational research led to the creation of a standalone quantum incubator that helps us anticipate industry shifts and build flexible, scalable systems to stay ahead of the quantum computing threat to digital security.
Additionally, our team explored AI video generation to streamline content production. This led to practical, scalable use cases adopted across internal teams—enabling high-quality videos in less time, without voice actors or high production costs.
3. Understanding Technology Readiness and Scalability
A key component of our technology evaluation is to assess the likelihood that a technology can scale, and whether we could potentially engage with our customers through this new technology. We consider the current state of platform capabilities before they become mainstream and how they might evolve in the future.
For example, Virtual Reality (VR) experiences may have limited immediate application for everyday customers, but research into this topic can provide essential knowledge for evaluating related technologies, such as Extended Reality (XR) glasses.
The foundational research keeps us prepared to leverage relevant technologies as they mature and maintain a competitive advantage through strategic readiness.
Next, we begin a process of investigation — often working with early-stage tools that lack documentation or community support. This is where our team thrives: testing, learning, and pushing the boundaries of what’s possible.
4. Exploring Overlapping Technologies
Our team frequently identifies and investigates areas where distinct technologies could intersect and create new opportunities for innovation. One example is a project that brought together extended reality (XR) technologies with multimodal artificial intelligence.
By integrating these advanced fields, we gained valuable insights into how overlapping technologies can drive the development of new services and solutions.
As the market continues to evolve, we are seeing increased interest in AI Glasses—a technology that exemplifies the convergence of XR and multimodal AI. This emerging product domain underscores the significance of our preliminary research into convergent technologies, enabling us to proactively anticipate and address evolving trends and shifts in customer technology preferences as they arise.
Preparing for the Future
Through internal engagement programs, Fidelity associates are often given their first hands-on experiences with emerging technologies. Our team shares the work we do by offering demos and hands-on experiences and often shares key takeaways of our work to leaders so they can consider where best to leverage them.
These programs encourage broad thinking about potential applications and foster a culture of innovation, while helping the firm explore how new technologies might be leveraged in the future.
From digital assistants to avatars and new channels of data visualization, the Emerging Technology team continues to scan new technologies and experiment with the unknown to help Fidelity, its associates, and customers better prepare for the future.
Interested in learning more? Follow FCAT on LinkedIn to learn about the newest innovations and emerging technologies that have the potential to shape financial services.