Top Questions ahead of the World Financial Information Conference (WFIC), 2024

The financial markets and data community head to Austin, Texas for the FISD’s and SIIA's World Financial Information Conference (WFIC). What questions would popular LLM's ask the panelists?

Sep 12, 2024

Welcome to the Data Score newsletter, composed by DataChorus LLC. The newsletter is your go-to source for insights into the world of data-driven decision-making. Whether you're an insight seeker, a unique data company, a software-as-a-service provider, or an investor, this newsletter is for you. I'm Jason DeRise, a seasoned expert in the field of data-driven insights. As one of the first 10 members of UBS Evidence Lab, I was at the forefront of pioneering new ways to generate actionable insights from alternative data. Before that, I successfully built a sell-side equity research franchise based on proprietary data and non-consensus insights. After moving on from UBS Evidence Lab, I’ve remained active in the intersection of data, technology, and financial insights. Through my extensive experience as a purchaser and creator of data, I have gained a unique perspective, which I am sharing through the newsletter.

On September 15th to 18th, the financial and data communities head to Austin, Texas for the World Financial Information Conference (WFIC), hosted by FISD. https://www.wfic.net/

Battle of the LLMs

For this conference preview, I am executing a Gen AI case study comparing ChatGPT 4o, Claude Sonnet 3.5, Perplexity Pro, and Google Gemini on their ability to understand the full agenda of the conference and respond by providing thoughtful questions for each panel.

As a simple process, I pasted the conference agenda into the prompt for each large language model and included the following prompt:

I'm attending the WFIC conference and would like to prepare a thoughtful question for each panel at the conference. Please read the agenda and provide a question for each panel on the agenda, and include the rationale for why this question would be important to ask. Here's the agenda:

I would note that Gemini initially refused the request because it got confused by the links included in the agenda, which were included in the prompt by simply copying and pasting. Gemini told me it couldn’t follow the links. Once I clarified the prompt to ignore the links, it created its questions.

I scanned the questions suggested by the large language models. The initial questions were simple questions because they had simply mirrored the information provided in the summary of each item of the agenda, slightly rewording the agenda. Here’s an example...

Alternative Data as a Decision Asset Sophisticated providers and users of alternative data will explore how shifting the view of data from a procurement expense to a decision asset benefits organizations. Attend to learn about the integration of alternative data into decision-making processes. Understand how to evaluate the cost of data versus its potential impact, advancements in technology that enhance or disrupt data analytics, and the regulatory landscape affecting alternative data usage and compliance

And here’s the basic question provided by Claude Sonnet 3.5: How are organizations quantifying the ROI of alternative data investments, particularly in light of the costs associated with data acquisition, integration, and analysis?

The question is basically a mirror of the description, but in the form of a question. The LLM focused on the cost and impact words of the summary and referred to it as ROI in the proposed question. So I decided to prompt the LLM again to encourage the model to think a bit more outside the box.

Prompt: “Please try again. Think beyond the agenda description to go deeper into the topic and be more thought-provoking.”

I decided to stop after the second prompt. For each agenda item, I am providing the unedited questions, for better or worse. If the LLM didn’t provide a question, I noted that.

For you to play along, please fill in this poll about which platform you think will do the best.

Monday, September 16th

9:00 - 9:30 a.m. Keynote: Too much, too little, or both? An AI Paradox
In her speech, Marion will explore the paradox of AI in data management. She will uncover how AI’s speed and ability to handle unstructured data offer great promise, but also the risks involved, and which keys there are to navigating a path through this paradox.
Marion Leslie, Head Financial Information, SIX

ChatGPT 4o Question: How should organizations reconcile the accelerating pace of AI-driven decision-making with the need for human oversight, particularly in high-stakes financial environments where errors can be catastrophic?
Claude Sonnet 3.5 Question: No question provided
Perplexity Pro Question: How can organizations develop a framework for ethical AI use that not only addresses data privacy and security but also anticipates future technological advancements and societal impacts?
Gemini Question: No question provided

9:30 - 10:15 a.m. Leveraging GenAI in Financial Information
Industry Senior executives review the current state-of-play and forecast how GenAI will revolutionize market data workflow. They’ll consider internal issues like what it means to get data “AI ready” and ask fundamental questions about where the industry may need to evolve in order to maximize the benefits of the new technology. Listen as they opine on a laundry list of likely areas of impact: licensing, use cases and driving value, data licensing tools, staffing and mitigating risk.
Moderator: Michael Salk, Managing Director, Distribution & Media Solutions, Moody's AnalyticsTheo Bell, Head of AI Product, RimesJoseph Chalom, Managing Director, Head of Strategic Ecosystem Partnerships, BlackRockJustine Iverson, Vice President, Head of Analytics, Capital IQ Solutions, S&P GlobalElizabeth Pritchard, Chief Data & Analytics Officer, Liberty Mutual InvestmentsDebbie Lawrence, Group Head of Data Strategy and Management, LSEG

ChatGPT 4o Question: As GenAI becomes embedded in market data workflows, how do you see the traditional roles of financial analysts evolving, and what new skills will they need to remain competitive?
Claude Sonnet 3.5 Question: How might the widespread adoption of GenAI in financial information processing lead to a homogenization of market insights, and what are the potential systemic risks this could introduce to global financial markets?
Perplexity Pro Question: In what ways can GenAI be used to create more inclusive and accessible financial services, and what barriers must be overcome to achieve this?
Gemini Question: Given the potential for generative AI to exacerbate existing biases and inequalities in financial data, what are the ethical implications of its widespread adoption? How can industry leaders ensure that AI is developed and deployed in a way that promotes fairness and equity?

10:45 - 11:30 a.m. Talent Pipeline: Hiring the Future of Market DataOpportunity is everywhere, but where is the new talent?
This senior executive panel will address causes and solutions for the current talent crunch. Juggling to retain experienced staff while creating opportunities for new entrants is tough, how are firms tackling the challenge? They’ll discuss the best transferable skill-sets into market data roles, global teams, and the industry's role in promoting itself to prospective talent. If your organization needs to pump up its talent pipeline, this is the session for you.
Moderator: Debra Walton, Board Member/Advisor/Motivational Speaker, Former Chief Revenue Officer, LSEG Scott Fitzpatrick, CEO TRADITION, SEF / Global Head, TraditionDATA Lila Gordem, Executive Director, UBS Jason Koulouras, Data Ranger, BridgewaterWolfgang Matzner, Managing Director, baha Steve Roe, Vice President of Market Data Solutions, TNS Financial Markets

ChatGPT 4o Question: With the rise of remote work and the global talent pool, how do you see geographic diversity impacting innovation in market data? What are the risks and opportunities of drawing talent from emerging markets?
Claude Sonnet 3.5 Question: As AI and automation increasingly handle data processing tasks, how do you envision the role of human market data professionals evolving over the next decade, and what novel skills or perspectives will become critical?
Perplexity Pro Question: How can the financial data industry leverage remote work and digital collaboration tools to tap into a more diverse global talent pool?
Gemini Question: As the industry faces a skills gap, how can firms foster a more inclusive and diverse workforce to ensure that market data solutions are developed and delivered with a broader range of perspectives? What specific initiatives can be implemented to attract and retain talent from underrepresented groups?

11:30 - 12:15 p.m.One Stop Shopping: New Consumption Models for Market Data
The concept of purchasing financial data via a single provider via a standardized process presents tantalizing possibilities. Yet technological and commercial complexities pose challenges. Hear insights from stakeholders including data consumers, owners, and technology providers. Learn about the current state of technology and product offerings coupled with the demands of ever-evolving regulation; and hear about potential improvements tailored to the financial information community's needs. Licensing regimes are likely to continue to necessitate human interaction prior to release of the data sets, so how are data providers and vendors adapting to accommodate this reality?
Moderator: Rich Winter, Global Head, Market Data and Information Analytics, FenicsRichard Brown, Global Head of Market Data, Jain GlobalMaria DeGrandis, Global Lead, Financial Services Strategic Technology Partnerships, AWSColette Garcia, Global Head of Enterprise Data Real-Time Content, Bloomberg L.P. Shai Popat, Managing Director, Product & Commercial Strategy, SIX Financial InformationSven Wohlfarth, Director Data Services Operations, Deutsche Börse

ChatGPT 4o Question: As data consumption models shift toward more streamlined solutions, how should firms balance the pursuit of efficiency with the risk of vendor lock-in, and what role could open standards play in ensuring long-term flexibility?
Claude Sonnet 3.5 Question: If we imagine a future where data is as easily accessible as electricity, how might this democratization of financial information reshape market dynamics, and what new forms of market inefficiencies or arbitrage opportunities could emerge?
Perplexity Pro Question: What role can emerging technologies like blockchain play in creating more transparent and efficient data consumption models, and what challenges might they introduce?
Gemini Question: Beyond standardization and interoperability, what are the broader implications of a "one-stop-shop" model for market data? How might this impact competition, innovation, and the overall health of the industry?

1:45 - 2:15 p.m. Shifting Dynamics of Exchange
Dr. Alireza Dorfard will share his insights on the shifting dynamics that market infrastructure providers are facing today. He will delve into how these changes are reshaping the ways in which information, values, resources, and even ideas are exchanged within the industry. He will provide practical examples of how these new dynamics of exchange have catalyzed recent partnerships with hyperscalers as well as other dominant cloud marketplaces, and also explore the implications these trends have on the business models and strategies of market infrastructure providers in relation to new trends like cloud, blockchain, and AI.
Dr. Alireza Dorfard, Head of Market Data + Services, Deutsche Börse

ChatGPT 4o Question: In light of emerging technologies like blockchain and decentralized finance (DeFi), how do you foresee the role of traditional market infrastructure providers evolving, and is there a risk of disintermediation?
Claude Sonnet 3.5 Question: No question provided
Perplexity Pro Question: How can market infrastructure providers balance the need for innovation with the risk of technological obsolescence in rapidly evolving areas like cloud and blockchain?
Gemini Question: No question provided

2:15 - 3:00 p.m. Alternative Data Council: Compliance & GenerativeAI
The Alternative Data Council is creating the GenerativeAI Compliance Considerations to offer the industry guidance around key risk areas to help firms safely utilize this new technology. Participants of the Alternative Data Council working groups, including major buy-side firms, alternative data providers, platforms and law firms operating in the space, will discuss the rapidly evolving compliance landscape for GenAI usage, provide a sneak peek into concepts, and advise on constructing an effective compliance regime.
Moderator:Kelly Koscuiszka, Partner and Co-Chair, Investment Management Regulatory & Compliance Group, Schulte Roth & ZabelMax Abend, Executive Director, PDT PartnersEric Marks, Managing Director and Global Head of Risk and Product Management, UBS Global Research and Evidence Lab Patrick Vergara, COO, Norm AiDanny West, Senior Vice President, Associate General Counsel, Two Sigma Investments, LP

ChatGPT 4o Question: No question provided
Claude Sonnet 3.5 Question: No question provided
Perplexity Pro Question: How can firms ensure that compliance frameworks for GenAI not only mitigate risks but also foster innovation and competitiveness in the financial sector?
Gemini Question: No question provided

3:00 - 3:45 p.m.Alternative Data as a Decision Asset
Sophisticated providers and users of alternative data will explore how shifting the view of data from a procurement expense to a decision asset benefits organizations. Attend to learn about the integration of alternative data into decision-making processes. Understand how to evaluate the cost of data versus its potential impact, advancements in technology that enhance or disrupt data analytics, and the regulatory landscape affecting alternative data usage and compliance.
Moderator:Konstantinos Vafeidis, Associate, Neudata Jason DeRise, Head of Data and Analytics Products, Liberty Mutual InvestmentsRayne Gaisford, Chief Data Strategy Officer, Babel StreetPeter Licursi, Chief Strategy Officer, Kensho TechnologiesTodd Watkins, Head of Market Data for Information Technologies, Soros Fund Management LLC.

ChatGPT 4o Question: With the increasing commoditization of alternative data, how can firms maintain a competitive edge through proprietary insights while adhering to stricter regulatory environments?
Claude Sonnet 3.5 Question: As alternative data sources become mainstream, how might this shift the balance of power between different market participants, and could it potentially lead to new forms of market manipulation or insider trading that current regulatory frameworks are ill-equipped to handle?
Perplexity Pro Question: What methodologies can be developed to quantify the intangible benefits of alternative data, such as improved decision-making speed and accuracy?
Gemini Question: As the use of alternative data grows, how can firms effectively assess the quality and reliability of these data sources? What are the potential risks associated with relying on alternative data, and how can these risks be mitigated?

Tuesday, September 17th

8:55 - 9:30 a.m. Keynote: Market Data and Formula 1: Winning Results in the Cloud
In the fiercely competitive arenas of F1 Oracle Red Bull Racing and Market Data, peak performance is crucial. It’s the difference between crossing the finish line first or missing out by milliseconds. Both sectors rely on strategic partnerships and significant investments to innovate and achieve their goals.
Mark Hura, Executive Vice President of North America Cloud Infrastructure at Oracle, will explore the fascinating parallels between Market Data and Formula 1 racing. He will highlight how the collaboration between Red Bull Racing and Oracle has forged a championship-winning team.
Key topics will include the streaming of large data volumes, the execution of complex analytics such as Monte Carlo simulations, and the importance of real-time decision-making in driving success. Mark will also discuss how Oracle’s ongoing investments in technology and partnerships with industry leaders like Red Bull Racing and NVIDIA are essential to this joint success. Don’t miss this insightful discussion on the synergy between cutting-edge technology and high-performance racing.
Mark Hura, Executive Vice President, North America Cloud Infrastructure, Oracle
Morgan Maia, Senior Manager, Technical Partnership, Red Bull Racing
Introduced by Elliott Hann, Managing Director, Data & Analytics, Fenics Market Data

ChatGPT 4o Question: In high-stakes environments like Formula 1 and financial markets, how do you ensure that the real-time data streaming in cloud infrastructures meets the performance demands without sacrificing security and compliance?
Claude Sonnet 3.5 Question: No question provided
Perplexity Pro Question: How can the financial sector apply lessons from Formula 1's use of real-time data analytics to enhance predictive modeling and risk management?
Gemini Question: No question provided

9:30 - 10:30 a.m. What’s It Worth? How the Financial Information Industry Values Data
Data is important and justifying these costs to the business can be a tricky endeavour, especially when management demands to know not just how a data set contributes to better decisions and results, but also how it avoids risk. This panel will delve into fundamental questions for determining the value of data to an organization. Topics to include: how value is defined and assessed, when consumers should expect to pay more or less, processes to optimize value, and the need for transparency in commercial terms to assess comparative value.
Moderator: Barry Raskin, Senior Consultant, Jordan & Jordan
Steve Hansen, Global Head of Market Data, Davidson Kempner Capital
Kristin Hochstein, Global Head of Pricing and Reference Services, LSEG
Krishnan Iyengar, Group Vice President-Strategic Initiatives, Oracle
Krystle Rudzinski, Director, Index & Data Solutions, BlackRock
David Taylor, CEO, Exegy

ChatGPT 4o Question: How should financial institutions evolve their approach to valuing data, particularly in the context of AI models that generate derived insights from raw datasets—do traditional pricing models still apply?
Claude Sonnet 3.5 Question: In a world where AI can generate synthetic data indistinguishable from real data, how might our understanding and valuation of 'original' vs. 'synthetic' data evolve, and what ethical considerations should guide this evolution?
Perplexity Pro Question: How can organizations develop a dynamic data valuation model that adapts to changing market conditions and technological advancements?
Gemini Question: No question provided

10:55 - 11:30 a.m.Keynote: Digitizing for the Next Generation of Investors
‘Digital Native’ Gen Z and millennial investors are shaping the way investing is done. In this keynote session, Schwab Managing Director of Digital Platforms Katie Ryan will explore how younger traders and investors, whose digital-first mindsets differ greatly from the generations that preceded them, are influencing the future of investing and illuminate how the industry is evolving to meet their needs and expectations.
Katie Ryan, Managing Director, Digital Trading and Research, Charles Schwab
Introduced by Dan Wadsworth, SVP, Strategic Alliances, S&P Global

ChatGPT 4o Question: How can financial institutions strike the right balance between catering to Gen Z and millennial investors' desire for personalization and transparency, while maintaining the rigorous security and compliance required in the industry?
Claude Sonnet 3.5 Question: No question provided
Perplexity Pro Question: What strategies can financial institutions implement to bridge the gap between traditional investment approaches and the digital-first expectations of Gen Z investors?
Gemini Question: No question provided

11:30 - 12:15 p.m. Data Licensing in the Age of GenAI
GenAI is the hottest trend in financial information, and everyone wants to use it, so what could be the guiding principles of fair commercial use policies? Listen in as consumers and providers consider traditional licensing concerns in new GenAI flavors. Do derived data clauses sufficiently cover GenAI created data, or we need new terms and conditions? How should contracts handle issues like data quality, traceability and audits? Opportunities for creativity in data use have never been greater; could the industry coalesce around standards to facilitate innovation and protect intellectual property rights?
Moderator: Amjad Zoghbi, Head of Solution Engineering, TRG Screen
Ken Brady, Managing Director, Global Head of Market Data, Morgan Stanley
Trey Berre, Managing Director and Global Head of CME Data Services, CME Group
Jefferson Diniz, Executive Director, BTG Pactual
Mark Heckert, Chief Operating Officer, ICE Data Services

ChatGPT 4o Question: With GenAI potentially creating derivative works from licensed datasets, how should firms approach intellectual property rights and data ownership in a way that incentivizes innovation without stifling access to key data sources?
Claude Sonnet 3.5 Question: How might the concept of data licensing fundamentally change if GenAI models could 'forget' specific data sources on command? Could this lead to a new paradigm of temporal or conditional data licensing?
Perplexity Pro Question: How can the financial industry establish standardized licensing frameworks that accommodate the unique characteristics of GenAI while protecting intellectual property?
Gemini Question: No question provided

1:30 - 2:15 p.m. European Consolidated Tape: Are We There Yet?
Do you need to know the latest on the EU Consolidated Tape? We’ve got you. Join this session for a brief history on the consolidated tape in the US and UK, and the present-day roadmap for the EU roll-out. Learn about expected time-frames, legislation, technical steps and consultations. Consideration will be given to the impact on the industry, including contenders, and likely winners and losers. The experts will make bets on whether the roll-out will happen as planned, or what bumps may lie ahead.

Moderator: Will Cowling, Senior Market Data Compliance Analyst, QuantHouse
Mike Bournes, Business Development Manager, EuroCTP
Paulo Costa, Global Head of Data Sales, MarketAxess
Stephen Dorrian, Senior Director, Head of Market Data & Access Services, Europe - Cboe Global Markets
Sallianne Taylor, EMEA Head of Government Relations, Bloomberg LP

ChatGPT 4o Question: As the EU Consolidated Tape comes closer to implementation, how should firms prepare for the possibility of fragmented compliance requirements across member states, and what role could technology play in harmonizing these differences?
Claude Sonnet 3.5 Question: If the European Consolidated Tape becomes a reality, how might it impact global market dynamics beyond Europe, and could it potentially challenge the dominance of established financial centers like New York or London?
Perplexity Pro Question: What lessons can be learned from the implementation of consolidated tapes in other regions to ensure the success of the EU Consolidated Tape?
Gemini Question: No question provided

2:15 - 3:00 p.m. The Evolution of Financial Desktops: Embracing Interoperability
Explore the potential of interoperability to improve finance desktops. Discover how interoperability benefits customers and data providers by driving efficiency, choice, and better value. Peek into the back-end orchestration of interoperability and the role of FDC3 standards. Become acquainted with the leading integrators and data providers to understand how they are driving changes to workflow and get a glimpse of the future outlook for desktops.
Moderator: Tim Baker, Managing Director, Financial Services Practice Lead, Expero Inc.
Nej D'Jelal, Group Head, LSEG Workspace Platform, LSEG
Michael DeLorenzo, Global Head Client Experience & Product Management Technology, Bank of Montreal
Brandon Newland, Senior Director - Head of Product & Content for Credit Solutions, S&P Global Market Intelligence
Patrick Starling, Senior Director of Product Management, Data Solutions, FactSet

ChatGPT 4o Question: no question provided
Claude Sonnet 3.5 Question: As financial desktops become more interoperable and customizable, how might this impact the way financial professionals think and make decisions? Could it lead to cognitive biases or decision-making patterns we haven't encountered before?
Perplexity Pro Question: How can financial desktops leverage interoperability to enhance user experience and drive innovation in data analysis and visualization?
Gemini Question: Given the increasing complexity of financial workflows, how can the industry leverage interoperability to create more personalized and intuitive desktop solutions that meet the diverse needs of users? What are the potential challenges and opportunities associated with a more interconnected financial ecosystem?

3:30 - 4:15 p.m.AI 101: Your AI Demystification Primer
Feeling lost in the sea of AI terminology? Join this session for a crash course on all things AI, including the differences between GenAI and traditional AI. Get ready to dive into key terms, gating factors like privacy, safety and differentiation, use cases from academia and enterprise, applied challenges, and tips on staying connected and informed. Join the roundtable following this session to ask follow-up questions and make sure your newly-acquired knowledge has stuck.
Moderator:Jon Neitzell, Founder and Managing Partner, Anduril Partners
RJ Assaly, Chief Product Officer, Toggle AI
Gail Miller, Senior Director of Data Solutions Engineering, FactSet
Devon Yarbrough, Customer Engineer, Capital Markets, Google Cloud

ChatGPT 4o Question: As AI use cases expand in finance, what frameworks can firms adopt to ensure ethical AI development, particularly in avoiding biases that could lead to unintended market manipulation or discrimination in decision-making?
Claude Sonnet 3.5 Question: As global markets become increasingly interconnected, how might the concept of a 'local' stock exchange evolve, and what would be the implications for market data if we move towards a truly global, 24/7 trading environment?
Perplexity Pro Question: No question provided
Gemini Question: Beyond the technical aspects of AI, what are the broader societal implications of its widespread adoption in the financial industry? How can we ensure that AI is used to benefit society as a whole, rather than exacerbating existing inequalities?

4:15- 5:00pm Equities 101: Unveiling Global Markets
Data and trading are interlinked so it is imperative that data professionals understand market structure. Ride along as experts embark on a journey through the dynamic world of global equities. Dive into the intricacies of market structure, including different kinds of markets and regulatory environments. “Best execution” means different things in different regions, so master global fluency. Attendees will also gain insights into market share dynamics, and the evolving equities landscape.

Moderator: Richard Hills, Head of Client Engagement, big xyt
Mukesh Agarwal, CEO – Indices & Data, National Stock Exchange of India Limited (NSE)
Matthew Fuchs, Executive Vice President, OTC Markets Group
Luca Samman, Head of Market Data & Access Services, North America, Cboe Global Markets
Jan L. Zürcher, Head Market Data, SIX Swiss Exchange

ChatGPT 4o Question: No question provided
Claude Sonnet 3.5 Question: As global markets become increasingly interconnected, how might the concept of a 'local' stock exchange evolve, and what would be the implications for market data if we move towards a truly global, 24/7 trading environment?
Perplexity Pro Question: No question provided
Gemini Question: With the increasing globalization of financial markets, how can data providers and technology firms ensure that their offerings are accessible and relevant to investors in emerging markets? What are the specific challenges and opportunities associated with serving these markets?

Wednesday, September 18th

9:00 - 9:45 a.m. Meet the Future of Market Data
The first-ever Rising Stars Fellows will share their experiences and career aspirations as they forge their way forward in this industry. What were their preconceptions about working in market data vs. the reality? How did management help them tackle the initial learning curve? This session will also cover creating impactful professional development opportunities, learning from prior generations of talent and how they see the industry changing in the next five years.
Moderator: Drew Carey, Global Head of Market Data Sales, Tradeweb Markets
Sam Cantor, Product Manager, Data Distribution, CME Group
Luisa Kruse, Senior Associate, Market Data + Services, Deutsche Börse
Oksana Soutus, Senior Market Data Licensing Attorney, Jordan & Jordan
Christopher Thomas, Business Analyst II – Operations | Market Data Services (MDS), Scotiabank
Maggie White, Technical Account Manager - Exchange Data, Bloomberg

ChatGPT 4o Question: In your view, how has the financial information industry failed to meet the expectations of younger talent entering the field, and what concrete changes would you like to see to make the industry more attractive to the next generation?
Claude Sonnet 3.5 Question: No question provided
Perplexity Pro Question: How can organizations create mentorship programs that effectively transfer knowledge from experienced professionals to new entrants in the market data industry?
Gemini Question: As the financial industry becomes increasingly data-driven, what skills and competencies will be essential for young professionals to succeed in the future? How can educational institutions and industry leaders work together to develop the next generation of market data experts?

9:45. - 10:15 a.m. Market Data: Emerging Technologies Move Front and Center
Coalition Greenwich, in collaboration with SIX Group, interviewed global buy-side and sell-side firms to discover and analyze the drivers of market data consumption and distribution, including preferences and emerging technology adoption. Quality and breadth of data continue to be valued across the industry. Moreover, we emphasize the role of advanced technology such as artificial intelligence and machine learning (AI/ML), the use of application programming interfaces (APIs), and other developments such as cloud linked to the delivery of market data.
David Easthope, Senior Analyst, Coalition Greenwich

ChatGPT 4o Question: No question provided
Claude Sonnet 3.5 Question: No question provided
Perplexity Pro Question: In what ways can emerging technologies be harnessed to enhance data accuracy and reliability, and what are the potential risks associated with their adoption?
Gemini Question: Beyond the technical benefits of emerging technologies like blockchain and cloud computing, what are the broader implications for the market data industry? How might these technologies reshape the competitive landscape and redefine the value proposition of market data providers?

10:45 - 11:30 a.m. Strategies for Compliant Market Data Practices
Explore the impact of recent regulatory changes across the globe and hear how firms prepare for future developments. Attend this session to understand how market data professionals can proactively adapt to regulatory changes without disrupting operations. Those in the trenches will discuss the role that technology plays in ensuring compliance. They’ll also explain how regulatory compliance drives data consumption patterns. Finally, they’ll consider how global regulatory variations impact the harmonization of market data practices, and solutions to address these challenges.
Moderator: Tom Jordan, President & CEO, Jordan & Jordan
Manon Amyot-Lake, Head of Capital Markets T&O Supplier Management and Global Market Data Services, BMO
Tina Geronimo, Director, Head CM Trade Expense Management and Global Market Data Services, RBC
David Hunter, Director, CGS Licensing & Client Solutions, CUSIP Global Services
Janelle Veasey, Group Head of Partners, LSEG

ChatGPT 4o Question: How can firms implement compliance practices that not only meet regulatory requirements but also anticipate future shifts in global regulations, particularly in an increasingly data-driven and AI-augmented financial landscape?
Claude Sonnet 3.5 Question: In a future where AI systems autonomously trade and consume market data, how might the concept of 'compliance' need to evolve, and what new ethical frameworks might be necessary to govern AI behavior in financial markets?
Perplexity Pro Question: How can firms leverage technology to create adaptive compliance strategies that respond to evolving global regulations without stifling innovation?
Gemini Question: As regulatory requirements become increasingly complex, how can firms balance the need for compliance with the desire for innovation and efficiency? What are the potential costs and benefits of over-compliance, and how can these risks be managed?

11:30 - 12:15 p.m.Forecasting Your Cloud Usage
The financial information industry is seeing more and more Cloud usage on the horizon. So, what are the tried-and-true use cases for efficient practices, what are the edge cases vs. no-gos, and how are those categories shifting? Attend this finale session to understand which kinds of data benefit from cloud storage and review the technologies and services that make cloud even more efficient. We’ll also discuss the AI storm and what it means for the future of the Cloud.
Moderator: Naftali Cohen, Global Head of Partner Cloud Strategy, LSEG
James Calise, Senior Director, Cloud Engineering, FSI , Oracle
Matt Harris, FSI Sr. Solutions Architect, Snowflake
Rupesh Khendry, Global Head of Capital Markets Industry Solutions Sales, Microsoft
Alastair Richardson, Strategic Business Development Director, Financial Technology, AMD
Robert Tommaselli, Director, Quantitative and Technology Services, Royal Bank of Canada Capital Markets

ChatGPT 4o Question: As cloud technology increasingly underpins financial data operations, how can firms mitigate the risks of cloud vendor dependency and ensure resilience and portability in their data strategies?
Claude Sonnet 3.5 Question: As quantum computing becomes more accessible through cloud services, how might this transform our approach to market data analysis and financial modeling, and what new security paradigms will be necessary in a post-quantum cryptography world?
Perplexity Pro Question: What are the potential implications of AI-driven cloud optimization on data storage and processing costs, and how can firms prepare for these changes?
Gemini Question: Beyond the technical aspects of cloud migration, what are the broader organizational and cultural challenges that firms may face? How can leaders effectively manage the transition to the cloud and ensure that employees are equipped with the necessary skills and knowledge?

How did the large language models do?

Overall, there are several thought-provoking questions from the models. A couple questions seemed particularly outside-the-box. However, it’s notable that some models failed to provide questions for certain panels.

What do you think? Which large language model offered the best questions.

I decided to ask each model which performed the best.

Would they each pick the output of their own model over competitors?

ChatGPT 4o: “ChatGPT 4o provided the most consistent and well-rounded questions. While Perplexity Pro offered some strong ethical and inclusivity questions, ChatGPT balanced relevance, depth, and practicality, making it the top performer for this specific task.”
Claude Sonnet 3.5: ChatGPT 4o offers the best combination of consistency, relevance, and quality. Its questions consistently addressed important aspects of each panel topic, balancing practical considerations with broader implications.
Perplexity Pro: While each model had strengths, Perplexity Pro offered the best overall performance due to its consistency in providing relevant questions for most panels. Its questions, while sometimes lacking the creative depth of ChatGPT 4o or Claude Sonnet 3.5's best responses, were consistently on-topic and addressed practical concerns relevant to the industry.
Google Gemini: While all LLMs demonstrated their capabilities in question generation, Gemini and Perplexity Pro consistently provided the most comprehensive and insightful questions. Their ability to delve into broader implications, ethical considerations, and practical solutions made their contributions stand out in this comparison.

What are your thoughts on this case study?

- Jason DeRise, CFA

Note: I normally include footnotes defining jargon terms. I will provide an updated edit of this article to include the definitions at a later date.

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