 So I'm going to try very hard not to fall off this platform and share with you a little bit about what's going on from my perspective But I have a few questions to start with. How many of you are in the financial services industry? Wonderful, I'm in the right crowd Second now. This is not a trick question. I promise. How many of you love your job? Very good a very enthusiastic hand went up over here and then lastly How many of you believe data? Is going to it's going to be the beginning and the end or is the beginning and the end of partnerships relationships buying selling and making things happen in life Not as many hands went up Say again, I totally agree with you totally agree with you But data is at the beginning of creating that wonderful information source that we all seek to have So what I'm going to share with you over the next 26 minutes. I'm told now since I have less time than I thought I did I'm going to share with you my journey around the data field and what I believe about data and information to be more specific and Then I want to wrap up and throughout talk to you about what I would call a passionate love story because I believe it takes passion and true true Commitment and love to make something like this happen. So let me start by the challenge that we have Quintillion my god This is a billion billion if in case in case you hadn't heard this word before which I hadn't quite honestly until I read this Datapoint of 2.5 quintillion bites of data is created daily and it's moving very fast And we're creating more and more very quickly not that all of us data people in this room didn't know that already But the fact of the matter is what are we doing to use it to manage it to share it to monetize it to make it? Information for it in that case Here are some facts about what's going on So in the past two years we've created more data than we've had in the entire history of mankind Which is mind-boggling to me the second item that talks about 0.5% of the data that we have is not yet and his own only 0.5% is analyzed and an oracle survey to about 300 executives In Canada as well as in the US 90% of them said they cannot Get any revenue they believe they're missing out on revenue for their companies because they don't have the ability to analyze and to make better decisions with that information excuse me data that they had that they'd like to make information and Then in 2016 because I grew up in the telecommunications industry. This was important to me is that we now have more data 200 times more data in this year than we have voice traffic, which is easy to see our kids us We all are texting or we're streaming video. We're doing something That's creating data more so than we're creating voice at traffic. And then lastly here 4300 percent of the information is going to be increased by 2020 Now I don't want to depress anybody especially those hands who went up to say they're in the financial industry and that you love your job But in 2008 we had a crisis and the questions comes up. My gosh, what is going on? Regulators were very upset They would come to the various banks and we probably all lived through this. How many of you saw the movie big short? It was very informative for me David actually suggested that I go and talk learn about that read about good rent the movie Because he was working with a lot of things around derivatives and I said tell me more about how this works And what's making this makes sense to me and it was very clear. They made a very layman understandable in terms of what was going because I'm not a Banker I am a technologist. So it was helpful to understand But that being said I looked at this as an opportunity as most crisis do they create an opportunity for change They create an opportunity for mindsets to think differently for us to act differently This actually created in my opinion a whole new industry called fintech that started nipping at the heels of those of us Who are in the larger banking industry? so what we had going on and David mentioned that I moved to the enterprise architecture group about seven eight years ago and I had previously been working in the Telecom area. I was managing the network for Wells Fargo and prior to 2008 when we were on October 1st were told that we were going to merge with Wacovia Bank And that we were going to be one bank by January 1st 2009 and the way that we were going to do that was we were Going to have one network and we were going to have one GL to report on for that company It was a mind-blowing opportunity. So in three months The teams from these two different banks who had never worked together had to come together and create this one network What part of making that happen in my opinion? Was that we had the foresight? To build an MPLS network in the first place which had been almost Completed by the time the merger happened and that foresight came about Mainly because the CEO said a couple three years prior what would happen if we were to double in size Which is exactly what happened don't know if you had a crystal ball or not, but That's what happened and we were all asked to think about what it would mean to do that But how I got to the point where we were dealing with this MPLS network We're a couple of things that happen and I believe it always requires Opportunistic behaviors to make some of these things happen One was I really wanted to bring voice over IP to our environment And I what I had done was set up some pods throughout the country Where our business leaders could come in and find out what it would feel like taste like Smell like and to get them excited about what the opportunity was and then I would tell them But I need an MPLS network to make this happen Seamlessly for you and that way I could get funding for the MPLS network So we put the network in we were able to merge with the bank and we had the opportunity To really make things happen for the bank now I moved to the enterprise architecture group and in the meantime all these emerging quote-unquote technologies have come into fruition social Mobile is getting alive and well Amazon is actually doing phenomenal things in just they become more than a book company where I can go buy books and it's become more But a real consumer world is starting to formulate out there We're starting to see these companies quite frankly go to pot That's my term my technical term for go out of business as a result of somebody tweeting something that They didn't get a good experience for so the world is changing around us in the meantime We start hearing about different little fintech companies. That's starting to eat into the mortgage business starting to eat into the retail business starting to make sure that our our loans our Mortgages all have a different look and feel with things called quick and loans or other little companies that grow up as a result of this But it was all of these technologies that brought data to my office as I took over the organization to say Sherry I've been writing this paper Mind you, I knew of David didn't hadn't worked with David But when he came in and talked to me about cinematic tech semantic technology He handed me a paper that he had written he explained to me some use cases that we might have in interest in and I said Yeah, this is intriguing and that was the beginning of our love affair Not literally, you know So machine intelligence and recently probably in the last couple of years We started talking about machine intelligence and all of these things provide us with what this is all about knowledge reasoning machines learning Inside of itself making sure that we can understand human intent content really get better communications And then incrementally will improve over time now the thing about this for me is machine intelligence Is basically algorithms that provide us with a way in which our computers can learn from each other and provide us better outcomes That being said think about this So I'm from New Orleans Katrina meant a lot of lot to me It actually changed my lifestyle quite frankly and going home I could go home and visit all my family and now they were all disparately moved around the country But as a result of that my sister is actually here She's sitting right over here her name is Tara Brown and she happens to work for a company not that I went by us Or anything to any company But Mark logic is actually one of those companies that's doing some good things in the semantic space Which I appreciate despite some things that you know, we've had some conversations But that being said there are great company that one of several companies that are doing some really good things in this space That being said Katrina presented an opportunity a crisis again a crisis has created and if indeed in 2005 I had an opportunity to say where is the nearest ATM that has money in it Where is the best roads for me to take out of town? Where is the nearest gas station? Where is the nearest hotel that I can actually stay in? Where can I get some groceries or where can I have dinner tonight and oh by the way? Gosh, I thought I was only going to be gone for a couple of days and now it's turning into weeks What changes might I need to make in terms of my financial services? Schools, what's going on? How can I have access to that information if indeed I had something like this? Available to me where I could access disparate data from different places digitally. I Would have been in a much better place Some of the situations we live through with Katrina would not have existed some of the things that happened with Sandy would not have existed That's the world that I'm hoping that we can create as a result of using this technology So let me get back to machine learning. You have your semantic technology that gives you some understanding machine learning But here's some outcomes. Anyone live in Northern, California seeing the Google car riding around Any of you have Teslas? Oh Clearly this is not Silicon Valley But all of that which they're able to do with software with Data is created and allows some of these things that this is just a few a handful of examples We talked about fraud detection Which is one of the use cases that David came to me with and he I'm sure all of you have always had a product Offering that was just directly related to what you needed in your lifetime Uh-huh. See I thought I knew that wasn't true So we have an opportunity to get more targeted with our offers much like you have an Amazon experience My view is I'd like to be the financial set the Amazon financial experience that customers actually host and have going forward And this is where we ultimately want to get to cognitive computing where you start with semantic technology understanding how the Validate the data make sure it's harmonious usable. It can feed into machine learning. I get much higher quality data much higher quality conclusions as a result of that and then graphically I can start looking at some relationships amongst customers amongst Disparate data much like a Katrina experience if you will that I can bring together and see what's going on and then natural language Processing which I know will lead into behavioral type things where we understand not only tone But you've been doing these kinds of things and these kinds of things Which leads me to believe that this might be your next step those are the kinds of things that we're going to move into I know it sounds a little scary sometimes it sounds like science fiction to me, but I think that's where we're going I really do believe at some point and I'm sure You've heard of blockchain So my view when I heard about blockchain was that David here we go. This is another application for us It's about secure information available to me anytime anywhere anyhow That's what we want to get to and it's not so much about Bitcoin But quite honestly, I think we're going to move away from my husband used to tell me this all the time We're going to move away from dollar bills Well, we will always have dollar bills in my opinion because they're those folks who are just not legit who want to have other ways of Which they transmit information, but anyway, I believe we're going to get to a point Which really going to be about bits and bytes just moving around The whole and it's truly a global item One of the things that got me also caught up in this is David used to come to my office and say share Would you like to go to a meetup? You know, they're going to be talking about semantic technology and I said hmm meetup What is that? This was several years ago, but I went and I really had a good time But what was really exciting to me is that I learned that there were these people who were in this space and it wasn't like Something new to them. They had been working on this for a while quite honestly I had actually and I was talking to David in the hallway the other day I actually had built an AI system many years ago that ages me because we were going from Analog to digital at the time, but I was trying and and Bell Laboratories was trying to get into the commuter Computer business it didn't work. Well, so clearly That didn't happen, but while we were trying it was clear to me that all we were building these computers Our sales people did not know how to sell these computers They needed something to help them that augment their ability to understand how to pieces and parts the configurations and everything came together And we created for them a small AI system, which we had to sell to Western Electric anybody heard of Western Electric Some of you are older as old as I am So we had to go sell that idea and actually they bought into it And we actually built that system and they actually use it for the little while that we were actually in that computer business So the love affair continues So we had Michael Bennett who I believe is leading our Repositories Semantics repositories effort for the EDMC and we have Mike Atkin Who's actually the executive director of the EDMC they both started this I have no garage Visualization because I feel like it started in garage like most great ideas start in a garage and they had this concept They had an idea they had a vision for which they didn't have the operational and the executable just yet So like any loving love relationship serendipity comes along Enter David Newman David's been trying to well not trying he has convinced me we need to work on this and I am all in on this and wanting to make It happen, but we haven't quite gotten there yet It's really about learning and growing and understanding and how helping others to see our vision of what we want to have accomplished So David brings in the semantic web languages and starts to build some operational prototypes for us That's what he's doing today, but he initially brought us a conceptual model to the table So now we got a vision. We got a little bit of architecture going on and Law and behold Dennis comes along and says look I've been working with the Department of Defense I've been working in semantics and Let me show you I know how to build tests and actually deploy and make this real So now you have the whole life cycle together these four guys. Yes only guys I see a lot of ladies in the audience. We're gonna we're working to help this make this happen But this is these four guys came together with the intent of making history Around the financial industries business ontology and let's say why was this necessary? regulators were trying to get consistent accurate Timely information from us That's part of the business reason for it. The other is as a business in financial services We need this kind of information. We need to be even from our operational perspective We need more clarity around what's going on in our networks. What's going on with our applications this all Feeds that in our legal organizations. We need to have more readily access to what's going on in our legal documents Supply chain anything that deals with information that we need to make decisions on benefits for a speedier delivery of results So these guys came together and then we had a few more people that joined the party and the OMG joined Together thanks to I think it was Dennis who started that brought that marriage together And we brought the EDMC and OMG together and they have been working with us and working around the globe to make this much more effective So FIBO was born it is truly the next generation Data standard that we have in place and while it states there that regulatory and business reporting is a beneficiary I really think this is truly the benefit of customers I think that's the real winners in this going forward these are a few of the companies that are Working with us adding to our standard Making sure that we can live through the next Hurrah, I think we're in the age of analytics and FIBO is at its core for what we're trying to do We have some prototypes that are starting in we have even HSBC has joined us from around the globe I think they're almost in anyway in terms of working with us So this is really a global opportunity I gave a similar talk last week on this topic and a young man came up to me after I had finished And he said you know we started down this path with machine learning for an insurance company And he said I worked on it for a couple of years and it just couldn't get the traction and my belief is This is not something that is going to happen in an isolation in a company This is truly something that's going to happen for an industry and there are over 600 ontologies that are out there today for us to make tap have access to This is one of them for financial services that we're working toward and I believe it's really going to take the village To really make this successful going forward So enter me and why is this important to me? I will tell you my whole life I think my whole career has been around Finding something new unique to change and it's usually because there's a customer at the other end There's a user at the other end or there's a business partner was trying to do something And I am always thinking about how can I make it easier? How can I help to make sure that we can do something much more effective than what we're doing today? And it's beyond automation and it's beyond looking at technologies to say gosh, that's a new technology Let's go find a problem to solve. It's what are the business problems that we're trying to solve How do I make it easier for customers to do what they want to do and quite frankly? We say we are in the dream business at Wells Fargo How do we make it easy for you to just live your life and not be? Boggled down with the details of how to move money around But how to just live my life and I can go and get information to make best decisions for me So we went through a lot of the emotions David and I he says he works for me. He actually works with me on most everything that we do. I believe it's a partnership I believe it's really requires to be focused energized Excited about something new but also being practical as to how do I apply it? David has gone through a number of things with me on this, but I've sought opportunities when we started down this journey We would talk to different people in the organization and we change our story here and there To kind of fit the audience sometimes we blew it sometimes we were very successful But we never gave up we kept being focused and one thing I forgot to mention earlier is when this all started Mike Atkin And Dennis was not he actually came to my office when David was they kind of met David serendipitously But when they came to my office Dennis literally sat across my desk and he said I just want to know Are you serious? Are you going to support David through this because you know this is not a sprint? This is a journey and I want to make sure that you're with us I thought that was very bold. He didn't quite say it that way But it was pretty much that was the message he was trying to convey and for me I was definitely all in for me. It was about timing and how do we make sure we stick together Taking the journey a little further David's boss came to me after a while and said, you know, David's working on this stuff Calls the man. Oh, I've lost time. I'm sorry. I rounded time. I'll be done in a second He said David is working. I need him to work on this tactical stuff You know, we got monitoring do we got other stuff that we need David to do I said, okay I'll talk to David. I talked to David David come to my said David. Are you passionate about this or this is something Just passing the time. He said sure. I'm very passionate. I'm already taking courses at Stanford. I am doing stuff on my own I'm working on this on the weekend. I said, okay, then I know you'll do what you need to do He said yep, and we just kept moving along and whatever we had an opportunity for him to present We had an innovation summit and I said, you know, I'm going to be given a talk on emerging technologies I want David to come in got 15 minutes to tell your story David was the highlight of the entire conference around semantic technology for that conference and it was a three-day conference anyway But it's those kind of things that make things happen for you. This is what our world looks like I'm excited to say that a lot of the not most all of the agencies that support financial institutions are excited about and interested in what we're doing and how this is going to make things Secure more secure more effective for our customers and Mike quite frankly. It's about transparency at the end of the day Multiple industries. I believe will benefit from this and I think about the Katrina or any crisis story or any Interrelated how you bring information together Co-op petition will be critical for us going forward. I think it's just going to be a natural way that we live Here are some vendors and partners. We're working with and then here are some of the mavericks that have already started down this path So today four guys had a vision and today we are all around the globe trying to make this happen And I thank you for your time and wish you a good rest of your conference