Goldman Sachs invests in company that could soon get rid of analysts
"NEW YORK and CAMBRIDGE, Mass., Nov. 24, 2014 /PRNewswire/ -- Kensho today announced that Goldman Sachs has led a $15 million investment round in Kensho, and has entered a strategic partnership to use Kensho's real-time statistical computing and analytics technology across the firm.
Kensho is a next-generation analytics platform for investment professionals that instantly and clearly answers millions of permutations of complex financial questions, automating previously human-intensive knowledge work by harnessing massively-parallel statistical computing, user-friendly visual interfaces and breakthroughs in unstructured data engineering.
"Our unique partnership with Kensho is an extension of our overall strategy of using and investing in new technology which allows us to deliver insights to our clients. We are excited to work with Kensho to develop user-friendly big data analytics tools which can be put into the hands of our client facing teams," said Tony Pasquariello, Co-Head of North American Equity Derivatives Sales in the Securities Division.
With this investment, Goldman Sachs becomes the largest strategic investor in Kensho, and will join the board as an observer. Kensho named Rana Yared, Managing Director in the Securities Division at Goldman Sachs, to its board of directors. Don Duet, global co-head of Goldman Sachs' Technology Division, will join Kensho's Advisory Board.
"From leading the electronic trading revolution to this most recent move into accessible, real-time analytics, Goldman Sachs has always been at the forefront of the movement toward more transparent markets," said Daniel Nadler, CEO of Kensho. "We are proud to partner with Goldman Sachs around the vision that real-time statistical computing systems and scalable analytics architectures represent the next-generation of improvements to the global financial system."
Article says it all;
http://www.prnewswire.com/news-releases/goldman-sachs-leads-15-million-…
I don't think you understand the role of analysts in an IB.
If you can make a computer program that flip through books,, realized the % sign was cut out due to margins, and replace page 16 on 22 pitchbooks or know when to use the word 'suggest' as opposed to 'strongly recommend' as opposed to 'deem it acceptable', be my guest.
Sad thing is, we could probably do it.
BUYSIDE analysts though... can never be replaced ;)
They haven't fully automated my interaction to get a McDouble. Wouldn't be too worried.
Or at the checkout. How often have we all heard "Please place items in the bag."
Not likely, though it does bring up a question that I think about from time to time (and then promptly forget and rethink about later): at what point does automation begin to approach human intelligence? Specifically, a machine being able to critically teach itself.
If machines began to learn and think critically, we'd have bigger problems than the number of IB SA positions
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