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Alternative Market Briefing

D.E. Shaw Group launches machine learning R&D effort

Friday, August 17, 2018

Bailey McCann, Opalesque New York:

D.E. Shaw Group, the $50 billion hedge fund known for its work with machine learning and investing, is launching a new independent research and development effort to be led by Dr. Pedro Domingos, Professor of Computer Science and Engineering at the University of Washington. Dr. Domingos will join the firm as managing director.

The academic led effort is designed to keep D.E. Shaw in touch with the latest thinking and technology on artificial intelligence and machine learning. Unlike D.E. Shaw's existing quant trading group, the initiative led by Dr. Domingos will be a bit broader, focusing instead on where machine learning is headed in addition to finding new investment ideas. Dr. Domingos will report to Cedomir Crnkovic, managing director, who joined the firm in 1997 and for much of his tenure ran the firm's futures and currencies systematic trading group.

"Over the past few decades we have developed and deployed increasingly sophisticated machine learning techniques," said Eric Wepsic, a D. E. Shaw group Managing Director and a member of the firm's executive committee who oversees the firm's quantitative trading and investments. "This new, independent venture reflects the importance we attach to gaining fresh perspectives and insights as technology evolves. It also provides us with an opportunity to bring in some of the brightest lights in the field and allow them to set their own research agend......................

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