Banking and Computers

The device my mother uses in her work that has changed it is the computer. The computer has increased output, the approval of loans 30 years ago when she started in banking took 5 to 6 days and today the approval can be sent out within the day, maybe even within the hour. The increased production and use of computer has some negative aspects as my mom mentioned, the financial industry leading up to 2008 was able to go beyond what they could understand and the risks, where we are only now beginning to understand the risks that are associated with the use of computers-fraud, too lenient policies on personal banks and investment banks, connection issues. She explains that the financial industry, as well as other industries, are constantly playing catch-up in understanding the new information technologies and their impacts, which this is a critical issue.

My mom first learn to use a computer, specifically a dumb terminal, in graduate school in 1977. However, she was raised in an age where if a woman wanted to be a professional woman she did not learn typing, which today is one of her biggest issues with the growing dependencies on computers. Overall, my mom was able to keep up with the advances in information technologies while the pace of change was relatively slow, but as the pace increased exponentially over the past 15 years she can't keep up unlike the younger people in her industry. My mom enjoys computers in her work because it allows flexibility where she wants it-telecommuting, and control where she wants it-access to information about the loans. The introduction of computers into her work, she was able to enjoy the fruits of the run up of the last decade, but she was a casualty of the implosion of 2008 being part of the older generation and on their way out of the financial industry, she was one of the "sacrificial lambs" of the clean-up of 2008. Even given this, computers has made her work more enjoyable, especially allowing her to telecommute more often to be able to spend more time at home and less time commuting 4+ hours a day.

This highlights the differences in the learning curve as people age, it is easier to learn new things the younger you are. It also, highlights the benefits and downsides to the new technology, but the benefits usually outweigh the negatives.