BlackRock's investment team spends time on two stages of working with data: classifying it, then using structured data to generate alpha.
"The amount of headache and heartache that we spend on this is unbelievable," Amer Bisat, BlackRock's head of sovereign and emerging markets alpha portfolios, said at a New York conference on Monday."It remains a holy grail. It remains something that's more a promise than a reality."Bisat said his team spends time on two pieces of the data puzzle. First, they work to classify data from disparate, ever-increasing sources to make sure it's structured properly.
At JPMorgan, the largest US bank, there are thousands of databases that still need to be cleaned and made usable before AI or machine-learning techniques can be fully unleashed, according to the copresident Daniel Pinto,
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