Rocket Companies amps up AI ambitions, hires chief technology officer

Silicon Valley veteran to spearhead AI initiatives

Rocket Companies amps up AI ambitions, hires chief technology officer

Rocket Mortgage’s parent company has named its first-ever group chief technology officer as part of its “AI-fueled” homeownership push.

Rocket Companies has brought in Shawn Malhotra (pictured) for the newly created role. Malhotra will oversee the technology development and implementation across the group’s ecosystem, including artificial intelligence (AI), data science, product engineering, technology operations and information security.

“Shawn brings a wealth of expertise and a transformative vision to our technology teams,” Rocket CEO Varun Krishna said in a media release. “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 Malhotra’s “primary objective” will be to accelerate innovation and execution, with a particular focus on amplifying the company’s AI initiatives.

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The hire comes as Rocket Companies recently unveiled new AI-powered tools called Rocket Logic and Rocket Logic – Synopsis, which automate manual tasks like document classification, data extraction, sentiment tracking and client preference recording.

“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,” Krishna added.

Malhotra joins Rocket from Thomson Reuters, where he most recently served as head of engineering and product development for the entire company. Under his leadership, Thomson Reuters established an AI platform and integrated an AI assistant across its product suite.

Before Thomson Reuters, Malhotra spent 12 years at Intel in various software engineering and technology leadership roles.

“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,” said Malhotra. “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.”

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