How Data Scientists Transform the Financial Industry with Geoffrey Horrell from Refinitiv
Episode Show Notes:
Geoffrey Horrell was the Head of Refinitiv Labs, London and currently the Global Head of Innovation and Labs at the London Stock Exchange Group.
This episode unpacks key trends from Refinitiv’s new global research report ‘The Rise of the Data Scientist’. Data scientists are moving across teams and realizing (and scaling) new opportunities for AI across their firms – e.g. NLP. In addition, 75% of firms are now using Deep Learning while 17% of firms rely solely on unstructured data for AI/ML use-cases.
Data strategy is set to overtake tech strategy in importance. There is a further evolution of teams and talent across finance – more citizen data scientists in trading, investment teams etc.
Data scientists are going from supportive to strategic roles as investments in tech and talent put data strategy in the spotlight. COVID-19 is upsetting ML models where you need to recalibrate and calculate disruptive events.
NLP use-cases are going into production and impacting accuracy with more advancements increasing the need for ‘explainability’
Models, data and people are prepared for tomorrow’s unexpected shocks – COVID proved that models need re-calibrating / new data to calculate disruptive events (e.g. data enrichment).
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