Ep. 248: Shawn Edwards on How Bloomberg Is Using AI (Replay)
Dec 27, 2024
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In this engaging conversation, Shawn Edwards, Bloomberg’s Chief Technology Officer with a rich background at IBM and Bear Stearns, dives into the intersection of AI and finance. He discusses his journey from hardware to software and the pivotal lessons learned along the way. Shawn emphasizes pragmatic innovation in tech management and highlights how AI, especially Bloomberg GPT, is revolutionizing data analysis and sentiment measurement. He also shares invaluable advice for young graduates about mastering their craft and embracing lifelong learning.
Shawn Edwards emphasizes a pragmatic optimism in technology innovation, focusing on solving real problems rather than pursuing trends for their own sake.
The discussion highlights Bloomberg's dual-layer strategy that balances rapid experimentation with innovative technology while maintaining the reliability of core systems.
Deep dives
Career Journey and Philosophy
The speaker's background as an electrical engineer highlights a path that was shaped by spontaneity rather than a strict plan. Early career decisions, such as shifting focus from hardware at IBM to software development, showcase adaptability in entering technology. He emphasizes a pragmatic optimism as a guiding philosophy in his current CTO role, where the aim is to solve existing problems rather than indulge in technology for its own sake. By prioritizing practicality over trends, he strives to eliminate distractions while exploring effective uses of technology within finance.
Management Approach Amid Growth
The discussion around management techniques reveals a balance between adapting to customer needs and maintaining reliability in a large organization. Bloomberg's historical approach focused on product discovery and rapid iteration, laying a foundation for the company’s current practices. The speaker points out the importance of investing in core systems to enable application developers to experiment and innovate without risking stability. This dual-layer strategy allows teams to explore quickly while ensuring that the underlying infrastructure supports reliable operations.
Navigating Disruptive Technologies
The conversation touches on recent technological shifts, particularly cloud computing and mobile advancements, which demand careful adaptation from organizations. Bloomberg's proactive stance towards open-source technology marks a cultural shift that enhances the company’s capability to leverage innovative developments in the tech community. The emergence of cloud architecture has led to a blend of private and public cloud solutions tailored for customer needs, enhancing product offerings. The adoption of mobile technology has further expanded service delivery, illustrating Bloomberg's commitment to evolving its tech stack in response to industry changes.
Harnessing the Power of AI
The exploration of artificial intelligence highlights its longstanding presence at Bloomberg, mainly through machine learning to handle extensive data processing. The speaker emphasizes the importance of human oversight, ensuring data accuracy and refining AI models in collaboration with domain experts. The introduction of generative AI and LLMs offers new opportunities, though its implementation in finance remains challenging and necessitates careful integration. By thinking critically about AI's potential, the company aims to enhance its services while maintaining a focus on delivering trustworthy information rather than creating flashy but unreliable applications.
Shawn Edwards is Bloomberg’s Chief Technology Officer. Based in New York, he oversees the development of Bloomberg’s global technology strategy. In 2017, Shawn was named in the top ten of the Institutional Investor Tech 40 – an annual ranking of financial industry technology leaders. Prior to joining Bloomberg in 2003, Shawn worked for Bear Stearns & Co. where he was a managing director in the company’s fixed income trading group. He has also held positions at Mentor Graphics and IBM. This podcast covers philosophy around tech innovation, product and infrastructure strategy, adapting to cloud, mobile and API-first, and much more.