SPEAKERS from Bloomberg, Shantanu Basu and Pamela Kustas, shared new functions in the financial software and media company that would help investors analyze data coming from all over the internet, since their effect on the financial markets has been growing. Some of the most interesting functions Basu shared was the “Fact Check,” where they are able to distinguish real from fake news. This is very timely since the recent election season has brought out news and articles that sometimes are not accurate.
Basu and Kustas also showed new tools on big data analytics that would help investors filter information coming from the social media. These tools are also very apt since, in this age of technological advancement, a lot of insights could be obtained from nontraditional sources such as the social media.
US President Donald Trump’s pronouncements on Twitter, for instance, could now be summarized by Bloomberg, allowing investors to more efficiently keep track of his statements.
The second part of their discussion touched on “Fintech” and how it has been changing the behavior of the financial sector. This was a response to the emerging trend of digitization and automation as firms aim to innovate new products and manage costs.
And this is where Bloomberg tries to create value as it offers tools that could help in optimizing business processes. Some of the tools it offers include routing orders, preventive communication and compliance tools, alerts, portfolio monitoring, and document search.
Definitely, these new functions will provide support to portfolio managers and could possibly have a more vital role in their investment process going forward.