The Digitization of Finance

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 20 January 2016

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don Duet, co-head of the Technology Division at Goldman Sachs, discusses the technological transformation of the financial services industry, and how advances in open source, big data, blockchain and other areas are driving further innovation. This podcast was recorded on January 12, 2016. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast is not financial research nor a product of Goldman Sachs Global Investment Research. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2016 Goldman Sachs. All rights reserved.

Transcript

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0:00.0	This is exchanges at Goldman Sachs where people from our firm share their insights on developments
0:13.1	currently shaping markets, industries in the global economy.
0:15.8	I'm Jake Stewart, global head of corporate communications here at the firm.
0:19.0	Today's episode is about the digitization of finance, and there's no better person to talk about than
0:23.9	Don duet the co-head of our technology division Don welcome to the program it's nice to be here
0:27.9	thank you Don we're in an era of widespread digital disruption the way we shop the way we commute the way we shop, the way we commute, the way we pay
0:34.2	each other. Technology is bringing tremendous change to almost every human
0:38.1	activity. What are some of the key drivers behind the surge in innovation and
0:42.0	how is it affecting businesses?
0:44.0	Well I've been at Goldman Sachs for 27 years always in technology and I have to say
0:48.7	it's just phenomenal for me to have seen obviously how important technology has been to our industry and to our firm,
0:55.0	but just really seeing the escalation that's been occurring in the last several years.
0:59.0	And we think that there are a number of different themes behind that, what's driving that that are secular.
1:04.3	One very important one is just the amount of literacy and comfort level there is in the world
1:08.7	today around technology where it's such a core part of everyone's life where it's become just inevitable
1:14.8	that you're picking up your phone the first thing you do in the morning that you're
1:18.1	finding that much of what you do from an entertainment perspective a shopping
1:21.5	perspective your social perspective is it all evolved around technology
1:25.5	and that's just changing the way people think and of course that bleeds over into the workplace
1:29.3	as well because people are people and institutions are made up of individuals.
1:33.6	So we see that that's one of the biggest macro trends that's occurring in the world today.
1:38.0	That's just fueling more and more.
	...

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