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Bloomberg's big move on machine learning and open source

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OSS

With its orange text on black interface and colour coded keyboard, the Bloomberg professional services terminal – known simply as ‘The Terminal’ – doesn’t appear to have changed much since it was launched in the early ’80s.

But behind the retro (Bloomberg prefers ‘modern icon’) stylings, its delivery of financial markets data news, and trading tools has advanced rapidly.

The terminal’s 315,000 subscribers globally are now able to leverage on machine learning, deep learning, and natural language processing techniques developed by the company, as they seek an edge in their investment decisions. Bloomberg is also applying those same techniques to its internal processes.

Leading the company’s efforts in the area is Bloomberg’s head of data science Gideon Mann, who spoke with CIO Australia earlier this month.

[...]

Behind much of Bloomberg’s recent builds has been an open source ethic. Mann says there has been a sea change within the company about open source.

"When the company started in 1981 and there really wasn't a whole lot of open source. And so there was a mentality of you know if it's not invented here we're not interested,” Mann says.

[...]

The organisation took some convincing, but, championed by the CTO, there has been a “huge culture change” towards open source.

“There are two groups you got to convince: you’ve got to convince management that using open source is going to be safe and lead to better software, and then you also have to convince engineers that using open source is going to increase their skillset, will lead to software that’s easier to maintain and is less buggy and it's going to be a more beautiful system. Once you can kind of convince those two then you're set,” Mann says.

The company is an active contributor to projects including Solr, Hadoop, Apache Spark and Open Stack.

Read more

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