Mind the (digital talent) gap: Supercharging research with general-purpose programming languages
Every once in a while there comes a new idea, or a repackaged old one, in sync with a few coincidences in the environment. A change in regulation, adoption of new technology and a nudge, and things change. The resulting ‘snowball effect’ is the adoption of general-purpose programming languages (GPPLs) in finance. This paper talks about this current trend, the factors driving it, and the reactions of the firms affected.
• Why the trend – factors pushing adoption of GPPLs and why the current methods of data analysis have reached their limits
• The environment – changes in business models due to regulation, explosive growth of data, the
changing nature of the data to be analyzed (sentiment and images), and asset managers demanding more ‘bespoke’ research
• The power of GPPLs – analyzing data and automating tasks enable an analyst to leverage ‘economies
of scale’ in analyzing alternative data
• What firms are doing – alleviating employees’ fears of becoming digitally illiterate, through mandatory
coding sessions, using GPPLs to offer more tailored insights
Senior Associate, Specialised Solutions
Devin Kandage is a senior associate within the Specialised Solutions team at Acuity Knowledge Partners. He has over three years of experience in quantitative research, working with a diverse group of clients, spearheading process automation, supporting a benchmark index provider by conducting research on emerging market bond liquidity, supporting investment research through investment and technical analyses in addition to several other ad-hoc projects that include data cleaning, web scraping and training incoming quants analysts. He has a first class degree in Economics and Finance from the University of London. He is also a CFA level III candidate.
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