Investment management is a heavily data-driven industry—portfolio managers and investment researchers require a large number of data sources to guide them in shaping their investment strategies. 

New cloud capabilities and technologies enable investment managers to process data faster than ever before and iterate on ideas quickly to fuel innovation in the signal generation process and gain a competitive edge. 

Using the cloud for investment research workflows makes it easier to onboard data from data providers, spin up large compute workloads in the midst of market volatility or during heavy research cycles, and manage complex machine learning or natural language workflows to gain market insights.

We hear from industry leaders that they’re exploring new ways to run investment research. “Differentiated investment strategies require new types of information sources, and new ways to process that information,” David Easthope, senior analyst, Market Structure and Technology, Greenwich Associates. “And that, of course, relies heavily on having access to reliable and scalable storage, computational, and AI / ML resources. More specifically, quantitative strategies can benefit from the computational platforms and embedded AI/ML capabilities the cloud can offer.” 

Google Cloud gives investment managers essential components to work and operate faster as they bring their investment research workflows to the cloud. Here are the key highlights:

1. Simplify, speed up your data acquisition, discovery, and analytics

The foundation of any investment strategy starts with data—acquiring it, detecting patterns, and analyzing it for insights. Enabling data providers to easily share large datasets such as tick history within a high-performance analytics engine can greatly reduce the data engineering overhead when possible.

Once data is onboarded, you can tag business and technical metadata related to your datasets and provide portfolio managers the ability to discover these datasets via a search interface.

We further review analytics options for various scenarios, including aggregating massive datasets, creating dashboards, and incorporating streaming analytics workloads.

2. Take advantage of burst compute workloads

Data engineers and researchers require ready access to burst compute capabilities to perform backtesting, portfolio simulations and run risk calculations. Cloud works well for these workloads due to its elasticity, consumption-based models, and hardware evolution.

Many investment managers are shifting to a container-based strategy along with a Kubernetes-based scheduler for greater consistency, scaling and efficiency in environments with a large number of researchers. Cloud managed services and a rich suite of CI/CD tools can make this vision a reality while improving security and developer productivity.

3. Tackle machine learning (ML) and model deployment with the help from cloud

Quantitative researchers scour vast amounts of market and alternative data sources searching for signals and correlations, while ML engineers have the challenge of taking these signals and moving them to production.

Google Cloud empowers users to create and operationalize their models without wasting valuable time with a comprehensive set of MLOps tools. 

In this paper, we explore multiple solutions for ML and model deployment. Those capabilities reduce the amount of time operationalizing ML models, so quants and data scientists have more time to devote to differentiating activities. 

4. Get the data you need in less time with Natural Language and Document AI

Thousands of financial filings, news articles, and sell-side research reports are generated every day, and it’s difficult for humans alone to process this volume of information. These documents are often generated in many languages and the ability to do entity recognition, sentiment or syntactical analysis in those languages, or perhaps translate them into the language of the portfolio manager is of critical importance. Google Cloud provides these capabilities through pre-trained models, or allows you to train high-quality models with your own datasets.

Getting started

There are plenty of emerging technologies, tools, and approaches available to help investment managers today. At Google Cloud, we can help you access, organize, and utilize these essential components to make your research faster, reliable, and more valuable.

To learn more about these four keys to better investment research, check out our whitepaper for more.

Last year, we analyzed the aggregate data from all customers across Google Cloud, and found over 600,000 gross kgCO₂e in seemingly idle projects that could be cleaned up or reclaimed — which would have a similar impact to planting almost 10,000 trees¹. Today, we’re making it easy for you to identify if any of those idle workloads are yours, with new Active Assist sustainability recommendations.  

Active Assist is a part of Google Cloud’s AIOps solution that uses data, intelligence, and machine learning to reduce cloud complexity and administrative toil. Under the Active Assist portfolio, we have products and tools like Policy Intelligence, Network Intelligence Center, Predictive Autoscaler, and a collection of Recommendations for various Google Cloud services — all focused on helping you achieve your operational goals. Today, we are broadening the scope of Active Assist to help you achieve your sustainability targets and reduce the carbon footprint of your workloads.

The carbon emissions associated with your cloud infrastructure can be a big part of your overall environmental footprint. Choosing to run on Google Cloud is a great first step — we’ve matched the energy used by our data centers with 100% renewable energy since 2017, and are committed to running our operations on carbon-free energy 24/7 by 2030. But once you’re running on Google Cloud, if you want to reduce the gross carbon emissions of your workload you can take action to optimize your usage.

Assessing the gross carbon impact of unattended projects

You can now estimate the gross carbon emissions you’ll save by removing these idle projects with Active Assist Unattended Project Recommender, which provides rich utilization insights for all the projects in your organization, and uses machine learning to identify ones that are idle and most likely unattended. The data points Active Assist surfaces as a part of its utilization insights now include the carbonFootprintDailyKgCO2 field, which allows you to estimate carbon emissions associated with any given project. Recommendations also estimate the impact of removing an idle project in terms of kilograms of CO₂ reduced per month. The capability is available via the Recommender API, Recommendation Hub, the Carbon Footprint dashboard, and BigQuery export of recommendations, making it easy for you to integrate with your company’s existing tools and workflows.

Introducing the Carbon Sense suite

Increasing the sustainability of digital applications and infrastructure is a priority for 90% of global IT leaders², and we’ll be continuing to invest across a number of product areas in Google Cloud, including AIOps features like Active Assist’s recommendations, to help you make progress towards your sustainability goals. To make it easy for you to find and consume these new features, we’re bundling our existing and future product work into the Carbon Sense suite — a collection of features that makes it easy to accurately report your carbon emissions, and reduce them. Active Assist joins products like Carbon Footprint, which provides you with the ability to understand and measure the gross carbon emissions of your Google Cloud usage, and our low-carbon signals, which help users choose cleaner regions to run their workloads, in the Carbon Sense suite. Stay tuned for more updates on Carbon Sense in the coming months.

Getting started with sustainability recommendations

To get started with Active Assist sustainability recommendations, check the Carbon Footprint dashboard and Recommendation Hub to review projects that may be idle and assess the carbon emissions associated with them. See recommendations in Google Cloud Console.

To view the recommendations, you will need IAM permissions for Unattended Project Recommender itself and permissions to view resources in a given organization.

You can also automatically export the recommendations from your Organization to BigQuery and then investigate any idle projects with DataStudio or Looker. Or, you can use Connected Sheets to use Google Workspace Sheets to interact with the data stored in BigQuery without having to write SQL queries.

As with any other Recommender, you can choose to opt out of data processing for your organization or your projects at any time by disabling the appropriate data groups in the Transparency & Control tab under Privacy & Security settings.

We hope you use Unattended Project Recommender to reduce the carbon footprint associated with your idle cloud resources, and can’t wait to hear your feedback and thoughts about this feature! Please feel free to reach us at active-assist-feedback@google.com. We also invite you to sign up for our Active Assist Trusted Tester Group if you would like to get early access to new features as they are developed.

^{1. https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator}

^{2. https://inthecloud.withgoogle.com/it-leaders-research-21/sustainability-dl-cd.html}

FM Logistic provides its international customers with complete logistics solutions that cover everything from warehousing and handling, to transport and distribution, co-packing and co-manufacturing, and supply chain optimization. Operating in 14 countries including France, Russia, Poland, India, Vietnam, Brazil, and China, FM Logistic supports its clients by offering specialized services across a number of markets including consumer goods, retail, cosmetics, and health.

“We are in the process of transforming all our tools and integrating new solutions to be able to work faster and more efficiently. Two main IT priorities are mobility and openness, in terms of working from anywhere and being able to interact with other information systems.”

– Communication Manager, FM Logistic

As a business that has existed since 1967 and in 2018 achieved a turnover of €1.178 billion with 9.5% annual growth, FM Logistic is always looking to help secure the company’s position within an evolving sector. To better serve its customers, FM Logistic decided to launch an innovation project in 2017 to transform the internal digital tools of the company and replace its intranet, email, and productivity software. The company looked for an integrated solution that would enable more collaborative ways of working and bring its international operations closer together. The company found that implementing G Suite and LumApps social intranet was the perfect combination.

“We are in the process of transforming all our tools and integrating new solutions to be able to work faster and more efficiently,” says the Communication Manager at FM Logistic. “Two main IT priorities are mobility and openness, in terms of working from anywhere and being able to interact with other information systems.”

A global transformation

For large international companies with global operations, implementing a single integrated solution to enable collaboration across regions while respecting regional variations can be a real challenge.

“We have 26,000 employees spread across a broad geography, with a variation in cultures and technological maturity. There was an aspiration to work in collaboration, but the necessary tools were not in place,” says FM Logistic’s Communication Manager. FM Logistic looked for a solution to enable new, more collaborative work practices, which were flexible in terms of usage and that, most importantly, would work as part of an integrated solution.

To do that, FM Logistic worked with Google Partner Devoteam G Cloud to implement G Suite alongside the LumApps intranet portal. It took six months to complete the migration of 7,000 accounts, with employees accessing the Business or Basic G Suite edition according to their needs. “Before, with our physical infrastructure we found ourselves buying additional hard drives as we ran out of storage,” says the Technical Project Manager at FM Logistic. “That’s no longer a problem, and we can tailor access depending on whether or not employees need unlimited storage .”

“It’s a real advantage to be able to access your account from any device and work from anywhere. Hangouts Meet has been really transformational in that respect: it has reduced the need for travel significantly, even in the few months we’ve been using it so far.”

– Communication Manager, FM Logistic

“We followed Google’s G Suite migration advice and had early adopter ambassadors in every country. By the time we got around to the final country, very little input was needed as they were ready to go!” says the Technical Project Manager. “Many of them were already familiar with the product, so it was very intuitive. Our feedback surveys gave a satisfaction rating of almost 4.5 out of 5 in relation to the transition. We also had significant executive support, with two members of the executive committee on the steering board. That really helped the project to move quickly.”

As a result, employees were quick to understand the benefits of the new system. “It’s a real advantage to be able to access your account from any device and work from anywhere. That was clear from the start,” says the Communication Manager. “Hangouts Meet has been really transformational in that respect: it has reduced the need for travel significantly, even in the few months we’ve been using it so far.”

LumApps: a fully-integrated enterprise hub

One of FM Logistic’s main reasons for choosing G Suite was the seamless integration with LumApps’ intranet portal. LumApps adds value to G Suite, thereby boosting and sustaining employee adoption. FM Logistic chose LumApps to create a hub for its enterprise, where everything is centralized from internal communications to business apps.

“We didn’t want a patchwork of solutions, we needed a platform that worked as an integral whole,” says the Technical Project Manager. “With LumApps, employees access the intranet using their Google authentication and can access all their G Suite tools through the intranet. Moreover, LumApps is Google native, so the integration is seamless and we know that it will evolve to accommodate any changes that might take place.”

“The main advantages we see are communication and knowledge sharing,” says the Communication Manager. “With LumApps, all 26,000 of our employees are now able to access the portal in their own language and access local news.”

For the next step, FM Logistic is considering integrating social communities so that employees can express themselves and be more engaged in the corporate culture.

Supporting digital maturity

Thanks to Drive, employees can now work from wherever they are, and are able to work more efficiently and more collaboratively. “From an administrative point of view, users can benefit from automatic updates, so there is less pressure on the IT department,” says the Technical Project Manager. “And we’re seeing many innovative uses of the tools to work in more efficient ways: many services have gone paperless with Forms, so less time is wasted; commercial agents are using Drive to work together on tenders simultaneously; and with Sheets, tasks are automatically sent from the team manager’s file to employee’s Calendar.”

“G Suite and LumApps are the first step of our digital transformation, in terms of collaboration and moving into the cloud. We have real confidence in our partners LumApps and Google, and we’re investing in those relationships for the long-term benefit of the company.”

– Communication Manager, FM Logistic

Now, FM Logistic wants to further support its employees in exploring all the tools G Suite has to offer. “We are embarking on a second phase to give our employees the skills they need for advanced uses of Docs, Sheets, and Forms,” says the Communication Manager. “It’s a learning curve, but it’s key to our goal of transforming our everyday processes.”

“G Suite and LumApps are the first step of our digital transformation, in terms of collaboration and moving into the cloud. We have real confidence in our partners LumApps and Google, and we’re investing in those relationships for the long-term benefit of the company.”

Editor’s note: February is Black History Month—a time for us to come together to celebrate the diverse set of experiences, perspectives and identities that make up the Black experience. Over the next few weeks, we will highlight Black-led startups and how they use Google Cloud to grow their businesses. Today’s feature highlights Acclinate and its founders, Del and Tiffany. 

As patients, as caregivers, and as parents taking our own children to the doctor, we want recommended medications to be safe and effective. It’s a right everyone deserves.

It’s known that certain medications don’t work in the same way in all populations. For example, Albuterol, a medication often prescribed for asthma, is less effective in 67% of all Puerto Ricans and 47% of Black Americans. These problems—which can have deadly consequences—result from historically limited diversity in pharmaceutical clinical trials. 

We founded our startup Acclinate to integrate culture and technology to achieve more inclusive clinical research. Help pharmaceutical companies and healthcare organizations access and engage communities of color so research is more inclusive.

Bridging the health equity gap by building trust

It’s important that health research organizations access and engage communities of color so their efforts reflect all the people they serve. Take a disease like diabetes, which affects a significantly higher proportion of Black Americans. When you look at even recent clinical trials for diabetic drugs, the representation of Black Americans among participants is only in the low single digits, despite comprising 13 percent of the U.S. population and more than 40 percent of diabetes patients in this country. Industry leaders have been aware of the lack of diversity issue, but some have chosen to ignore it or brush it aside. The biggest problem, in our opinion, is that there have been no penalties for not achieving higher diversity figures in clinical trials, and only minor financial repercussions to pharma/biotech companies when their treatments either do not work across all groups once approved, or there is a lack of uptake by all groups due to the lack of testing in those groups. The lack of clinical trial diversity has adversely impacted the reputation of the industry and the ability to recruit diverse populations in the future. 

Acclinate integrates culture and technology to promote diverse patient representation in medical research. Our approach is not transactional. We build trust through our  #NOWINCLUDED community, which is an ongoing, ever-expanding digital platform that educates and engages with communities of color on health issues.

#NOWINCLUDED includes a website app, and social media presence where members can learn information about diseases, particularly those with greater negative impacts on people of color, such as cancer, diabetes, and cardiovascular diseases. Members can share stories and ask questions. By providing access to trusted resources about these health issues and the latest clinical research, we empower Black people to take control of their health and consider  participating in research that is shaping the future of healthcare.  

For healthcare-related organizations, we offer the opportunity to better understand the attitudes, aspirations, and unmet needs of underrepresented minority communities. Data from #NOWINCLUDED feeds our HIPAA-compliant SaaS platform, e-DICT™ (Enhanced Diversity in Clinical Trials), which uses predictive analytics and machine learning to identify individuals matching the requirements and most likely to be receptive to participation in a particular clinical trial.

Acclinate scales its platform with Google Cloud

We rely on Google Cloud services, including Vertex AI, to know whom to ask, when to ask, and how to ask for clinical trial participation. With Vertex AI, we enjoy a unified platform for developing our artificial intelligence models, including tools for preparing and storing our datasets. We can easily train and compare models using AutoML, which requires minimal ML expertise or effort with its intuitive graphical interface. This allows us to leverage more than ten ordinal and categorical data points to determine in real time a community member’s likelihood to enroll, which we call our Participation Probability Index (PPI). Our models evolve in an iterative process the more we interact with, and learn about, our community members.

We follow the pay-per-use Google Cloud Platform architecture model using serverless technology, which helps reduce infrastructure management costs and lets us focus on product development and engaging with communities across the U.S.

CloudSQL, a fully managed relational database service, integrates easily with BigQuery so we can glean insights for our clients in real time, all with Google Cloud’s robust security, governance, and reliability controls. Virtual Private Cloud (VPC) gives us scalable and flexible networking for our cloud-based resources and services. We also use Identity and Access Management (IAM) to simplify oversight of Google Cloud resource permissions for different user groups and roles, with appropriate security protections. 

API Gateway manages our APIs using Cloud Functions, which both use consumption-based pricing, plus give our developers consistent and highly secure access to our services through a well-defined REST API. We use Memorystore for Redis to reduce platform latency. This is done with a fully managed service powered by the Redis in-memory data store, which builds application caches for fast data access. All of this comes together to provide an outstanding experience for our platform’s users and contributors.

• DSC00049.JPG
• DSC00010 (2).JPG
• pitch del tiff.jpg

Expanding influence with the Google for Startups Accelerator for Black Founders

Three months of one-on-one Google support and mentorship as part of the most recent Google for Startups Accelerator : Black Founders cohort not only helped us build our product, but also helped us earn external credibility. People use Google every day, so whether we’re trying to engage in conversations with industry experts or with somebody in a rural community, it is helpful to have the buy-in of a globally-recognized brand as we take on a historically difficult, systemic issue with challenges around trust. Getting access to the products, best practices, and people we need to build and grow through the Accelerator program has been priceless. For example, working with the Google AdWords team helped us generate important traffic from people interested in learning more about #NOWINCLUDED or sharing their story with us. Jason Scott, who leads the Google for Startups Accelerator: Black Founders program, is still connecting us to people in his network and identifying key opportunities for us months after the program wrapped. He continues to demonstrate that he is invested in seeing us succeed. 

Our company has made great progress against our goals, in part thanks to receiving capital from the Google for Startups Black Founders Fund. We received $100K in non-dilutive funding along with Google Cloud credits, Google.org Ads grants, and hands-on support. We used the funds to pay for the transition and development costs associated with moving to Google Cloud. The Google support and accountability has been incredible. After receiving the Google for Startups Black Founders Fund award, we’ve gone on to raise another $1M and moved our cloud from Salesforce to Google Cloud. 

We also had the amazing opportunity to be selected as one of six companies to take part in a face-to-face web conference with Sundar Pichai, Google’s CEO. We were thrilled to hear him explain his vision around health equity and the role Google plays. Ultimately, for us, it’s not just about the funding we get, but we are also gratified to receive support from an entity that truly believes in addressing this issue. We know Google is aligned with our mission of health and racial equity. 

Championing diversity in clinical trials

Our 2022 looks bright. We expanded our presence to Washington, D.C. as part of the Johnson & Johnson Innovation JLABS ecosystem. We were also selected to take part in the BLUE KNIGHT initiative created between Johnson & Johnson Innovation and the Biomedical Advanced Research and Development Authority (BARDA) under the U.S. Department of Health and Human Services. 

Acclinate is also on track to have contracts with five of the top 25 largest biopharmaceutical companies in the U.S this year. They’ve taken note, as has the Food and Drug Administration (FDA), that the lack of diversity in clinical trials represents a significant health concern—to the extent that the FDA has provided strong guidance for pharmaceutical companies to  diversify their clinical trials. At the same time, the industry is also responding to pressure from communities of people of color to make equitable representation a priority.

Today, we are in the fortunate but challenging position to have significant inbound opportunities coming our way. In response, we continue to recruit and hire talented people to join our team. On the technology side, we are happy to be aligned with Google Cloud to have powerful cloud infrastructure that will scale with us, as well as high-caliber champions united in partnership. With people’s lives at stake, we are passionate in our commitment to helping ensure medications do what they are supposed to do: heal and improve the quality of life for everyone who takes them. 

Hear Acclinate cofounders Del Smith and Tiffany Whitlow chat with Google’s Head of Startup Developer Ecosystem Jason Scott and fellow Black Founders Fund recipient Bobby Bryant about building on Google Cloud in a recent Google for Startups Instagram Live. 

If you want to learn more about how Google Cloud can help your startup, visit our page here to get more information about our program, and sign up for our communications to get a look at our community activities, digital events, special offers, and more

While some traditional financial services companies have more slowly transitioned to the cloud, capital markets firms have embraced cloud computing across their entire value chains — front-, middle-, and back-office. We wanted to understand the dynamics behind this rapid adoption, the most common use cases, and the types of technology most in use, particularly as it relates to market data. Google Cloud commissioned Coalition Greenwich to survey 102 institutional capital markets professionals — at exchanges, trading systems, data aggregators, data producers, asset managers, hedge funds, and investment banks — in the United States, Canada, France, Germany, Italy, the Netherlands, Switzerland, and the United Kingdom. 

Our research found that while there are many drivers, demand for easier accessibility is fueling widespread adoption of cloud-based market data services, and associated trading infrastructures, across the buy side and sell side. In fact, 68% of sell-side and buy-side users find it critical for market data providers to offer public cloud-based data services. At the same time, exchanges, market data providers, aggregators, and trading systems are embracing the cloud as a delivery model by offering access to data directly via their own cloud services, APIs or partners.

Here were five noteworthy takeaways from the study: 

1. Cloud services are becoming ubiquitous for data delivery. Today, the cloud is pervasive, with 93% of exchanges, trading systems and data providers offering cloud-based data and services, according to surveyed executives. Moreover, 100% of those surveyed intend to offer new cloud-based services, such as derived data, in the next 12 months.

2. Commercial and investment banks are offering additional connectivity, real-time data feeds, and trading applications delivered via the cloud,demonstrating that it’s not only exchanges, trading systems, and data providers that are moving rapidly to the cloud. Internal use cases abound as well, with 67% of those surveyed consuming cloud-deployed market data, primarily for data analytics. 88% of surveyed sell-side firms intend to consume cloud-based market data services, with digital transformation, data science and quant research as the top use cases.

3. Buy side firms will consume even more cloud-deployed data. Today, 90% of surveyed buy-side firms are consuming cloud-deployed market data, mostly for portfolio management. 70% of buy-side firms intend to consume more public cloud-based market data services in the next 12 months, adding services such as compliance and regulatory reporting.

4. AI/ML, powered by cloud, is moving out of the pilot phase and into mainstream use. Today, 50% of exchanges, trading systems, and data providers are offering data products or services powered by AI/ML, and of those, 42% intend to offer AI-powered trade execution and trading analytics services in the next 12 months. Within commercial and investment banks, 55% said they are currently using AI/ML in the cloud, and while that was true for only 14% of overall buy-side respondents, 44% of large buy-side respondents are using it.

5. Exchanges, trading systems, and data providers are prioritizing public cloud for internal insights. 71% of these firms are using the public cloud, mostly for data transmission, processing, analysis, and long-term data storage. Over the next 12 months, 33% of new public cloud workloads will focus on data mining, data insights and advanced analytics, while 28% of new AI/ML tooling and infrastructure investments will focus on faster analytics and risk reviews, and 27% on data quality maintenance.

“We see new, dramatic shifts on the adoption of cloud across market data,” said David Easthope, Senior Analyst for Coalition Greenwich. “And we expect further proliferation of cloud-based services and greater consumption across the trading and investing lifecycle.”

Conclusions and future predictions

Based on the survey results, Coalition Greenwich predicts five following trends over the next 12 months:

1. Exchanges and trading systems will continue to launch a wide array of new cloud-based and possibly cloud exclusive data services across derived data, end of day data, reference data and pricing data.
2. Data providers will launch new data products such as pre-trade analytics powered by AI/ML in the cloud.
3. Commercial and investment banks will offer additional connectivity, real-time data feeds, and trading applications delivered via the cloud.
4. Buy-side firms will consume even more cloud-deployed data, including real-time market data, portfolio management data, and risk analytics.
5. Exchanges, trading systems and data providers will explore proof-of-concepts around core systems on the cloud. Improvements to AI/ML tooling or infrastructure will ramp up as firms seek more rapid responses to risk initiatives.

To learn more about these findings, download our two full reports, The Future of market data: Distribution and consumption through cloud and AI and Exchanges and data providers: Prioritizing the cloud and AI for internal insights or our short infographic.

Research methodology

The survey was conducted online by Coalition Greenwich on behalf of Google Cloud from March 2021 to April 2021 among 102 executives in North America (n=82), EMEA (n=17) and other (n=3) who are employed full-time and who are participants or influencers in decisions around cloud and/or senior management with a role at a company which is an institutional asset manager, hedge fund, alternative investment manager, exchange and/or trading system, information provider, information aggregator, or other asset manager/asset owner. The survey included wide perspectives from a range of firm size and asset class focus, including equity, fixed income, FX, commodities, multi-asset, and other asset classes.

Foot Notes

1.  We defined market data as direct feeds, consolidated feeds, terminal and desktop products, security and reference data, pricing data, historical data, alternative data, and index data.