Banks invest heavily in data scientists for mining alternative data
Leading banks like Citi, HSBC, Morgan Stanley and UBS are racing to hire data analysts, data scientists, data platform managers and more
As more firms adopt quant strategies, bringing AI into the decision-making process, competition over new investment opportunities is greater than ever before. New data types, or alternative data, are providing investors with forward-looking signals that can help them surface opportunities, and discover potential threats, better than ever before.
Leading banks like Citi, HSBC, Morgan Stanley and UBS are racing to hire data analysts, data scientists, data platform managers and more
“There is a trend we’re seeing in venture capital – it’s moving from subjective, more intuitive thinking to more data-driven decision-making. It’s also about managing investments. Board members actually have no clue how startups are doing – they believe what the founders tell them. But if you look at external data, you can get an unbiased outlook.”
Anvita Varshney, Co-Founder, Dubai Angel Investors