Hazelcast, Inc., the company that enables instant action on all data, announces Dr. Stephen Weston as its chief scientist, bringing deep ML and AI expertise to Hazelcast’s leadership in AI application and data infrastructure. Leading Hazelcast’s AI research and development, Weston will be instrumental in guiding the company’s strategy and application of AI within the Hazelcast Platform and the product roadmap that supports the needs of our Global 2000 customers.
Weston, a Ph.D. in mathematical finance, brings 30 years of experience to the role in areas such as AI, risk management, and mathematical modeling. He has built and led teams of up to 100 developers powering the front office of investment banks with algorithmic design, high-performance computing, and low-latency trading. Previously, Weston was managing director in global credit trading at JPMorgan Chase. Most recently, as a partner in the Risk Advisory practice at Deloitte LLP, he managed the transition to machine learning and agent-based models for risk management, model development, and model validation.
“Steve’s expertise and vision enhance our ability to deliver innovative AI-based solutions that drive value for customers across industries, including financial services, where AI functionality is rapidly making inroads,” said Adrian Soars, Hazelcast chief technology officer. “Our goal is to simplify and speed up our customers’ AI innovation, enabling their applications to take real-time intelligent action with the performance and scale required by more sophisticated models for AI/ML. Steve’s AI expertise will prove critical in meeting that goal.”
Today, 99% of financial services leaders are either already using or planning to use AI functionality specifically within their organization, according to the 2023 Financial Services GenAI Survey (Ernst & Young LLP). As organizations chart the path to GenAI integration, those surveyed revealed that 40% lack the proper data infrastructure, and 35% lack the proper technology infrastructure. Organizations that are investing in application modernization now ready for this wave of AI will reap the benefits, including enhanced customer experience, higher revenue growth, improved operational efficiencies, and differentiation for competitive advantage.
To support its customers’ AI initiatives, Hazelcast’s AI strategy is organized around three overarching principles:
- data driven,
- innovation led, and
- product focused.
“Simplicity dominates everything, especially in this AI era. Simplicity or ease of use also means ease of learning and building the best possible solutions for customers,” Weston said. “My goal is to work closely with our customers to deliver the AI features they require to simplify and accelerate application modernization and extract the maximum value from their data for improved operations and competitive advantage.”
SOURCE: GlobeNewswire
