Curiosity, chaos, and the human code: Change management in the AI era

At Waters Technology’s Tech and Data in Financial Markets conference, a dynamic roundtable led by Mike Raposa, Williams Lea by RRD’s Chief Revenue Officer, brought together leaders to dissect the evolving landscape of change management and upskilling to modernize legacy systems for financial services. The conversation, rich with real-world challenges and practical wisdom, revealed not only the technical and operational hurdles facing firms but also the human factors that underpin successful transformation. Here are the key takeaways from the session:

The talent conundrum: Hiring, retention, and the curiosity quotient

Recruiting and retaining top talent remains a perennial challenge. Money alone isn’t enough. The most sought-after candidates are those with deep curiosity and strong problem-solving skills: People who easily can adapt, learn quickly, and bridge business and technical domains. Roundtable participants highlighted creative strategies, such as:

• Mining internal analyst associate cohorts for high-potential talent
• Focusing on diverse interests and analytical thinking in interviews
• Recognizing that curiosity and adaptability often trump technical prowess alone

Retention, meanwhile, hinges on continuous investment in employees’ growth. Firms that empower staff to pursue training and certifications on their own terms are more likely to keep their best people. The message was clear: “If you don’t provide that for your people, they’ll find it elsewhere.”

Change management: The psychology of resistance

Change is rarely embraced universally. The roundtable distinguished between two groups: Those who embrace change and those who resist it. The latter often have “change fatigue” or even “PTSD” from poorly executed past initiatives. Their skepticism is not unfounded—many have experienced “modernizations” that made their jobs harder, not easier.

When employees have repeatedly seen “transformations” that overpromise and underdeliver, skepticism becomes rational self-preservation.

To overcome this, firm leaders must:

• Identify and empower “change ambassadors” from within the ranks of early adopters
• Make some changes seamless, even “invisible,” for reluctant users
• Recognize that managing equals—especially those who can’t simply be told what to do—requires empathy, persuasion, and a nuanced understanding of individual motivations

Training and upskilling: Simple and self-directed

Traditional, top-down training programs are losing favor. Participants agreed that forced, lengthy training sessions are often counterproductive. Instead, the most effective upskilling strategies are:

• Simple, concise, and directly relevant to the learner’s role
• Self-directed, allowing employees to choose what and how they learn
• Supported by open training budgets and a culture that values continuous learning

This approach acknowledges the rapid pace of technological change and the need for employees to stay agile and motivated.

The role of data governance and AI in change management

As firms modernize, data governance and AI adoption are front and center. The roundtable stressed the importance of:

• Combining internal expertise with external partners for retraining and cross-training
• Ensuring data quality and governance, especially as organizations migrate to cloud platforms and adopt AI
• Maintaining control and compliance, particularly as regulatory requirements evolve and AI introduces new risks

The future belongs to firms that can adapt their infrastructure, maintain data integrity, and leverage AI for both efficiency and innovation—without losing sight of human oversight and governance.

The roundtable’s candid exchanges reveal that the future of financial services will be shaped as much by people and culture as by technology and data. Success in change management and upskilling depends on curiosity, empathy, and the willingness to invest in people—not just systems. As Mike Raposa put it, “Change management is often executed poorly because organizations don’t invest in dedicated resources with the right skill sets. You can’t effect change and perform your day job.”

In this age of relentless disruption, the firms that thrive will be those that treat change not as an event, but as a continuous, human-centered journey.

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