“If Nasdaq was a Star Wars character, what would they be?” a question Adena Friedman, President and Chief Executive Officer of Nasdaq used to draw the comparison between the stock exchange and the infamous SciFi movie series during a Great Minds discussion at CES2023. Friedman explained that both 3-CPO and Nasdaq must adapt to new situations and environments, and both utilize highly advanced and sophisticated technology.
Nasdaq has become more than just an exchange, with technology playing a significant role in all activity. Friedman broke this down into three pillars: Liquidity, which focused on modernizing markets and bringing them into the cloud. Artificial intelligence aids in transparency and helps companies and investors navigate the complexity of capital markets successfully—lastly, integrity in preventing financial crime with the use of advanced technology.
As the new year kicks off, Friedman noted that uncertainty is a topic of conversation going into 2023 across all industries for many reasons. One example the CEO provided was changing supply change management, nearshoring, and regionalization of the economy, in addition to what kind of technology is needed to be more modern in supply chain management. She also noted that the digital transformation of companies has led them to become more efficient, and tech savvy and leads to effective growth. Lastly, there is a growing demand for talent- tech talent and more employees to meet company needs, a common theme among many CEO’s.
A reported decline in birth rates has contributed to a North American labor shortage, fueling corporations’ need to invest in crucial technology. “To avoid the need for massive amounts of hiring in a period where the US will show that we don’t have as many workers going into the workforce,” said Friedman as she highlighted the value of investing in tech.
Technologies will undoubtedly transform every industry: AI aids in making better investment predictions and quantum computing. The cloud has created the ability for data to be leveraged in new ways, and technology helps to reduce criminal activity.
Pertaining to Nasdaq, data for accurate predictions have been organized with AI algorithms, growing in popularity for retail investors and possessing data to make smarter investment decisions. As previously mentioned, the cloud makes real-time data accessible globally.
It’s evident that tech has played a significant role in the stock exchange and the next trend of tech companies that will define the bright future of tech.
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