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In the Vault: Assessing AI Impact vs. Hype with John Stecher of Blackstone
Sep 25, 2024
John Stecher, Chief Technology Officer at Blackstone and a leader in tech innovation, shares insights on the evolving intersection of finance and technology. He discusses the pivotal choice between in-house tech development versus startup partnerships, emphasizing the need for strategic resource allocation. Stecher also highlights how AI is revolutionizing sectors like real estate and private equity, reshaping analyst roles, and creating new opportunities in the investment landscape. His advice for startups focuses on understanding market dynamics and delivering quick value.
23:25
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Quick takeaways
- Blackstone emphasizes the importance of combining business acumen with engineering skills to enhance operational efficiency in financial technology.
- The integration of AI at Blackstone aims to streamline processes like risk management, significantly improving decision-making and investment performance.
Deep dives
Evolution of Financial Technology
Financial technology has seen significant evolution over the past two decades, particularly in how firms operate. While the core functions, such as equities trading and retail banking, remain unchanged, advancements have focused on reducing friction in transactions. The shift to cloud technology has allowed greater innovation and allowed financial institutions to trust external vendors rather than relying solely on proprietary solutions. These changes highlight the necessity of integrating business acumen with engineering expertise, fostering collaboration between the two areas to maximize product development and operational efficiency.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode