Greg Woolf, Coalesce’s founder and CEO, sat down with Janet Wu and Peter Barnes of Bloomberg Radio last night to discuss artificial intelligence, financial services, and his personal story.
“What we’re finding with artificial intelligence is there’s a lot of hype and excitement around the space. And a lot of potential. In fact, what we are seeing from some of our customers is that this is the ‘fourth wave’ behind cloud, mobile, and social as the next transformative technology, especially in financial services… Without a doubt, financial institutions are under a lot of pressure when it comes to fees, especially in asset management… Our clients are very interested in using our technology to do more, faster.”
On the value of our partner, DCU:
“We are fortunate to be participants in the DCU FinTech Innovation Center. In fact, we did a pivot last year that resulted from our conversations with DCU. We were originally focused on using AI to automate investment research, specifically private market investment research. What we found that it wasn’t a great market for our technology… However, in working with large financial institutions we found there was huge demand for enhancing efficiencies on the operational side of things. So we focus more on the middle and the back office and DCU was a great partner in this process.”
Where is Greg from and how did he get into startups?