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DETROIT — The fintech company Rocket Companies hired a CTO with recent AI product experience to oversee the development and implementation of technologies across the organization, including its AI initiatives.
Rocket Companies — which includes mortgage, real estate and other financial services businesses — named Shawn Malhotra its first group CTO, according to the company this month.
Malhotra will lead several technology areas throughout the company, including AI, data science, product engineering, technology operations and information security.
Most recently, Malhotra was the head of engineering and product development at Thomson Reuters.
"Shawn's primary objective will be to increase the rate of innovation and execution in the organization, amplifying Rocket's AI initiatives," said Varun Krishna, CEO, Rocket Companies.
"His fresh perspective and track record of leveraging AI to simplify and automate processes makes me confident that, together, we will quickly realize our vision of AI-fueled homeownership."
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While at Thomson Reuters, Malhotra helped the company establish a platform to accelerate the development of generative AI solutions and introduce an AI assistant spanning all the company's products.
Previously, Malhotra served as CTO of Thomson Reuters' corporate technology business unit. He was "instrumental" in founding Thomson Reuters' Toronto Technology Centre, prioritizing AI talent and expanding TR Labs, a division dedicated to research on AI and technical innovation.
Prior to Thomson Reuters, Malhotra spent 12 years at Intel, including at Altera before the company was acquired. He led Intel's Toronto Technology Centre, which housed 200 software engineers, and was the director of software development. He started his career as a software developer at Qualcomm.
Malhotra holds a B.A.S. in computer engineering from the University of Waterloo, where he graduated with honors, and an M.E. from the University of Toronto. He's also credited with five U.S. patents.
"I truly believe in the transformative potential of AI technology," said Malhotra, adding it is a "pivotal time in Rocket Companies' history."
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