It is all about radical instead of incremental innovation.
We are sitting on enormous amount of cash, but business grows slowly. It seems the problem arises from the flawed assumption capital must be conserved at all cost.
Radical innovation needs talent spotting
We need more radical innovation at the Main Street and the Wall Street. And this needs talents.
Potential beats experience and competencies
Future businesses will be too volatile and complex to rely on experience and competencies (only) - we need potential, the ability to adapt to the changes swiftly.
To innovate is hard work
This is an enormous opportunity for young quants. Innovate by doing the difficult work. With motivation, curiosity, insight and engagement. Quants develop the tools that shall guide investments to the best opportunities.
To do that they use tools themselves. Quants engineer, model and program.
Tools shall help them to explore new things and verify them by doing multiple experiments. We at UnRisk provide solutions, but we also provide what we call motivational tools for quants - UnRisk-Q, providing the UnRisk Financial Language implemented in the UnRisk Engine with a broad coverage of deal types and risk scenarios.
We decided to help (young) quants leverage their work
This post has been motivated by the June 2014 issue of HBR Magazine - Experience is Overrated.