Banks are looking outside finance as they build their capabilities in artificial intelligence (AI). Morgan Stanley's newest expert in AI and cloud engineering comes from the fashion industry.
Santhosh Pasupuleti has just joined Morgan Stanley in New York as an executive director. He has a background in finance, and fashion.
He started his career with Accenture in 2004 and spent about six years as a delivery lead there before joining Bank of America as a vice president and senior technology and operations manager in 2010. Pasupuleti moved on to LG Technologies as a director of engineering in September 2015 but joined Ralph Lauren just four months after. He spent nearly two years at the fashion house before joining Skava, an e-commerce platform owned by IT services firm Infosys. He also founded two companies, Aarax LLC in 2015, which was operational for about two years, and Shiva Apps LLC in 2017, where he still serves as a chief executive officer.
Pasupuleti describes his specialism as, "customer and associate digital experiences through AI and cloud engineering." At Ralph Lauren, for example, he worked on real-time personalization and a recommendation engine based on AI to enhance customer experience. He also created marketing analytics engine to target and re-target customers across multiple channels based on their past behavior.
Online retailers have pioneered the use of artificial intelligence as a tool for targeting customers. Banks like J.P. Morgan have already begun using artificial intelligence to create trading algorithms and AI systems are being used to sift through documents in investment banking divisions. Morgan Stanley's recruitment of Pasupuleti highlights the need for AI experts to develop customer-facing applications too as banks seek to better target products and expedite the client onboarding process.
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