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Welcome to the Tearsheet Podcast, where we explore the dynamic intersection of data, finance, technology, and innovation. I’m Tearsheet’s editor in chief, Zack Miller.

In today's episode, we dive deep into the world of data-driven decision-making with Ryan Swann, the Chief Data and Analytics Officer at Vanguard.

At Vanguard, Ryan leads the charge in leveraging data analytics, AI, and machine learning to empower investors towards financial success. With a career spanning over two decades in this evolving field, he shares invaluable insights on the transformational journey Vanguard has undergone in centralizing their data and analytics functions.

In our conversation, Ryan unveiled the challenges and triumphs encountered along the path of centralization, shedding light on the pivotal role of aligning data strategies with the overarching business objectives. His vision of combining offensive strategies—such as hyper-personalization and Gen AI—with defensive approaches like privacy by design sets the stage for Vanguard's forward momentum in 2024.

Join us as we explore the dynamic fusion of finance and data science through the lens of Ryan Swann, offering a wealth of expertise and foresight in Vanguard's data revolution.

The big ideas

1. Centralization for Efficiency and Business Alignment
"Yeah, initially, Vanguard had data and analytics teams across the business creating value, but we wanted to scale the use of data analytics... so that's where the impetus came to centralize."

2. Challenges of Centralization and Organizational Shifts
"In a decentralized organization, data professionals see very little career pathing... As data and analytics become more integrated, it becomes harder to retain talent."

3. Balancing Centralization and Business Integration
"We brought those organizations together but kept them co-located with the business... they still got that close touchpoint with the business."

4. Impact on Career Development and Talent Attraction
"By centralizing in the CDO, those data analytics professionals now have a career path... it allows them to rotate into different parts of the business."

5. Diverse Talent and Its Impact on Innovation
"Individuals from different backgrounds bring that knowledge into data science... you end up with solutions that you would have never thought of."

6. Value Creation and Cost Savings through Data Initiatives
"Over the year, we had a number of initiatives across the organization... it's a combination of things, but it's coming together as an organization."

7. Vision for 2024: Convergence of Offensive and Defensive Data Strategies
"Combining offensive strategies like hyper-personalization with defensive approaches like privacy by design... sets the stage for Vanguard's forward momentum."

'The Chief Data and Analytics Office is a team sport': Vanguard's Ryan Swann

Amid concerns about U.S. competitiveness in artificial intelligence, the Senate Commerce, Science, and Technology Committee advanced several AI-focused bipartisan bills on Wednesday. However, fault lines emerged, signaling potential growing tension between the parties. Sen. Maria Cantwell, D-Wash., who chairs the committee, highlighted the global stakes for AI development, noting that the technology could increase U.S. GDP growth by $1.2 trillion to $3.8 trillion per decade, while China and other countries invest heavily to gain economic and national security advantages. Cantwell emphasized the importance of public-private partnerships to drive innovation. The committee advanced nine AI bills, including the Future of AI Innovation Act, the CREATE AI Act, the NSF AI Education Act, the VET AI Act, and the TEST AI Act. Sen. Ted Cruz, R-Texas, criticized the bills, arguing they would over-regulate the U.S. AI industry and stifle innovation, enabling other countries, namely China, to take the lead. Cruz's amendment to eliminate President Joe Biden’s executive order on AI was voted down, but he stressed that repealing it is a part of the Republican platform.

In other news, the Pentagon’s Chief Digital and AI Office (CDAO) has introduced a new role focused on management and business operations. Julie Cruz, a longtime strategic planner and military workforce expert, has been selected as the CDAO’s new director of business operations, making her the first to hold this title. A CDAO spokesperson explained that this position is a maturation of the previous “resource management” role and is part of a broader effort to institutionalize good governance processes. Promoted to the Senior Executive Service in June, Cruz’s responsibilities include overseeing HR, internal contracting, resourcing, and key mission support functions such as space planning, IT, and records management.

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Senate advances AI bills amid partisan tensions; CDAO launches new role

A podcast covering the latest news & trends facing top government leaders on topics such as technology, management & workforce. Hosted by Billy Mitchell on FedScoop and released Monday-Friday.

Tearsheet is news, opinion, and analysis on the business of finance.

Candid conversations with senior executives, fintech entrepreneurs, investors, industry experts -- all weigh in on the trends impacting the industry and the disruptive impact technology is having on the business.

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New tracks tagged #CDAO