Rocket Hires Shawn Malhotra As Chief Technology Officer

Leaders at Rocket Companies announced on Monday that they have hired Shawn Malhotra as their first group chief technology officer.

Malhotra is tasked with overseeing the development and implementation of technology across the entire Rocket Companies’ ecosystem. That includes artificial intelligence development, data science, product engineering, technology operations, and information security, according to a press release.

While working at Thomson Reuters, Malhotra held several technology leadership roles. Under his oversight, the company established a platform to accelerate development of generative AI solutions while introducing an industry-leading AI assistant spanning all Thomson Reuters products.

Malhotra also served as the CTO of Thomson Reuters’ Corporate Technology business unit and when he joined the company in 2017, he helped found Thomson Reuters’ Toronto Technology Centre, according to the press release.

“I am looking forward to being part of this pivotal time in Rocket Companies’ history and am eager to explore how AI can simplify the path to homeownership,” Malhotra said. “I truly believe in the transformative potential of AI technology. Few missions are as crucial or deserving of its power as Rocket’s goal of making housing more accessible for all.”

Varun Krishna, CEO of Rocket Companies, said Malhotra’s track record of leveraging AI to simplify and automate processes makes him confident they will “quickly realize our vision of AI-fueled homeownership.”

“Shawn brings a wealth of expertise and a transformative vision to our technology teams. As we double down on our commitment to technology innovation, Shawn will help us focus on delivering groundbreaking solutions to our clients, partners, and team members,” Krishna said in a statement.

Krishna welcomed Malhotra to the company with a LinkedIn post, saying the fellow University of Waterloo computer engineering alum is an engineer’s engineer.

“His track record and hands-on approach to innovation and technology culture, and his deep understanding and success implementing generative AI, will accelerate our strategy to transform the home buying experience. Rocket has 10 petabytes of data – made up of the 1.5 million documents we receive each month, the 65 million call logs we process annually and much more,” Krishna said.

Since Krishna started with the company in September, he has been focused on AI intiatives.

Last month, leaders at the company announced Rocket Logic and Rocket Logic – Synopsis. The tools use generative AI to quickly automate manual tasks that humans would typically spend hours of time completing. This includes classifying documents, extracting client data, tracking sentiment, and recording client patterns and preferences.

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