Joyce Shen: AI investor, board director, author, and data science at UC Berkeley

“You can’t be too risk-averse in your own career journey. It takes risks to create a portfolio of valuable skills and find purpose. It takes risks when structural factors or personal reasons mean one path isn’t working and fulfilling, and it’s time to create another,” says tech trailblazer Joyce Shen. “Instill confidence, and say, ‘I can create my own path. Maybe I’m only at the first step of this path, but it’s a path that I want to pursue.’”

Shen talks about the value of contrarian moves, the often overlooked career paths in tech, how tech is changing the shape of career trajectories and why leaders need to hold both vision and empathy to drive innovation.

Growing at the Pace of Tech

Between accompanying her scientist father to the research lab on weekends as a young girl, being immersed in academia on her mother’s side and growing up in college towns, Shen has always been interested in science, technology and continuous learning. She dropped her pre-med surgeon trajectory when she discovered how economics, statistics and math can model what is happening in the world at The University of Chicago.

Shen then interviewed with a non-profit named Sponsors For Education Opportunity (SEO), an organization that helps to close the academic and career opportunity gap for college students from underserved communities, and was placed as an intern in her sophomore year at IBM in procurement finance. A year later upon graduating with two degrees in Statistics and Economics in three years, Shen joined IBM full time in Corporate Development focusing on mergers and acquisitions. She quickly immersed herself in high-stake projects. Shen was energized by the fast pace of innovations in the technology industry and began to evolve, rapidly.

By 25 years old, she was leading an international finance team of nine people, ranging from fresh college graduates to baby boomers. By 29 years old, she was the first (and youngest) global CFO leading and managing the IBM Cloud Platform, an internal start-up at the time. As a fast-rising star, she was recruited by Thomson Reuters, a global company in information services and technology, to build and lead the emerging tech practice, including establishing emerging technology strategy and launching the corporate venture fund and a blockchain program. Having achieved all milestones including investing in over 12 startups in machine learning, data, digital identity, and blockchain, she was recruited to join Tenfore Holdings, a private investment firm in New York.

Shen has also been lecturing at UC Berkeley and has previously lectured at Saïd Business School, and has published books on innovation and blockchain. For the last ten years, she is also actively involved as a career mentor for SEO.

The Value of Being a Contrarian

“My career has been non-traditional and multi-dimensional. I took risks that most people normally would not take, and each built on the other without me knowing at the time how each step will fit together – my decision was anchored by pursuing knowledge, innovation, making impact, and doing things that I think matter in the world I live in,” says Shen. “And because I took risk in my career, I built a reputation of being a multi-faceted leader, strategic thinker, a problem solver in any environment, and being able to work through tough assignments and execute end-to-end against entirely new visions.”

Shen has been driven by her interdisciplinary and multifunctional skills in the intersection of business, technology, and finance. Her last three positions have been particularly created for her with a blank slate: “Even more than taking a risk, I’ve often been the contrarian and not done what everybody else was doing,” says Shen. “I wanted to keep developing at a different growth vector and bring others along with me.”

Those contrarian choices include going into corporate development out of university instead of consulting or banking, going for her full-time MBA degree at The Booth School of Business at the University of Chicago after only two years as a young professional, returning to IBM after her MBA instead of a new firm, leaving Corporate Development in Armonk for the grittier challenge of leading a mature, less-glamorous business unit to gain management and restructuring experience, departing IBM after starting and growing the cloud computing platform startup to an billion dollar business as the global CFO to gain experience in making emerging technology innovation, procurement, and investing decisions in the CTO office at Thomson Reuters, and then leaving a highly coveted position working with innovative technology startups for an investment firm that had less than seven people and to focus 100% on technology investing and advising founders and management as a lead investor and board member.

Shen attributes her ability to adapt and figure things out in part to a childhood spent moving often as well as her own travels and exposure to different cultures and systems of thinking.

“The world is changing every day,” says Shen, “and the ability to immerse in your environment and have that sixth-sense ability to see opportunities and create value, regardless of the environment or infrastructure or market condition, is incredibly and increasingly valuable and highly demanded.”

The Overlooked Career Path in Technology

As technology has changed our lives and become pervasive in every way, Shen notes that much of technology (e.g., software, smart infrastructure, machine learning, artificial intelligence) runs horizontally through every single industry. She’d love to see more women get involved where so much future value creation is coming and consider the breadth of options to create their own purposeful path.

“There tends to be two main paths in technology careers in conventional thinking. One path is a purely technical path, often as an individual contributor as well as a super-doer. But there is another path where people get into more of the operational and business side, around product management and distribution as well as considering emerging topics such as ethics, fairness, governance in technology and especially in AI and machine learning. There is also a lot of opportunity to get into highly critical technology areas such as cybersecurity. In my experience, a lot of the influence and ability to make changes come from working at the intersection of different disciplines and taking that experience to management and leadership.”

Shen continues, “In technology or in any industry, being able to have that broader aperture allows someone to see more opportunities and navigate better decisions about where they want to go and how to do it to make a broader impact in an organization.”

Create Your Own Career Ladder

“The entire career landscape is shifting and new opportunities are emerging rapidly. Developing a portfolio of skills you can apply in many ways, no matter what path you take, makes your career more dynamic and resilient,” advises Shen.

While in some industries, career development still looks like a vertical ladder, technology disrupts that paradigm, and Shen feels watching her parents create their own ladder as immigrants gifted her the agility to do that.

“Conventional wisdom would say the path you follow is a ladder and you progress according to that ladder, but in business and technology there isn’t a ladder that is given to you even though it can seem that way,” says Shen. “You can create that ladder yourself, and it doesn’t really matter what shape it takes, as long as there is a strong purpose to the work and that you are enjoying the journey and making an impact. It doesn’t have to be the same ladder that everybody is climbing.”

Knock Until The Door Opens

Working at the intersection of technology and finance and business, Shen has become used to being the “only,” but she’s focused on leveraging her strategic thinking, expertise and her deep set of skills relevant in her fields. Her parents’ immigrant experience and her moving often as a child taught her to put herself out there and work hard to prove herself. She is energetic, outspoken, direct, and down-to-earth. Sitting down with seasoned executives was an intimidating experience early on when she embarked on her career, but not once she stopped making giants of them.

Shen encourages women to focus on making an impact. Before going into a meeting, she focuses on her own clarity of how she will show up and what she wants to learn and can contribute. She encourages her students to own their voice and show the value of their work. She also encourages women not to give up just because someone doesn’t take interest in your aspirations or you don’t get that assignment.

“What I learned is that everybody who has accomplished a great deal had a lot of help and support from other people. Giving and receiving opportunities are very important to women” Shen says. “So if you ask for an opportunity and you’re told no, and you’ve been doing an amazing job, find another person to ask. Sometimes, women take that ‘no’ very hard and in a personal way, but please don’t be discouraged. Keep knocking on doors until one opens, because you will find people who will see your potential. It is definitely hard but remember don’t get discouraged.”

Shen encourages women to hold the inner strength and confidence. If one day is really tough, another day is going to be better, and amidst the unique structural challenges for women, you have to leverage all the resources within and around to keep progressing on your career journey.

Leadership that Empowers and Includes

Her mother often called Shen a natural leader, and Shen agrees leadership is innate in her. The growth has been honing her leadership for others in different capacities as a corporate executive, investor, board director, and educator.

“I was exposed to the highest levels of leadership at IBM very early on, and I’m a keen observer of human behavior,” says Shen. “From start-ups to larger companies and across different functional areas, I still take the approach of observing and picking up what are the leadership skills that create incredible teams and organizations that have strong culture and purpose.”

What did not work for Shen was detailed and controlling micro-management that didn’t inspire innovation or empower people to leverage their own strengths to add value. From her first management experience, she realized the importance of recognizing and empowering individuals.

“I realized that I had the responsibility to make sure not only that we deliver great work as a team, but also that we take care of each other,” reflects Shen. “It’s not just having an open door policy. It’s having empathy and treating my employees as human beings who have different needs and aspirations. Listen to them and create an environment where they can thrive as individuals, so that as a collective we are more powerful team.”

Shen has seen the difference that makes, more starkly in start-ups: “I think the most incredible leaders are those who can create clear vision, mandate high expectations, but also at the same time, show empathy and flexibility to the team.”

Inspiring Others Behind Her

As a woman who breathes technology and business and finance during most of her waking hours, Shen loves keeping on top of technology innovations, emerging trends, and potential investments. She’s a part-time faculty lecturer at UC Berkeley’s Master of Information and Data Science where she teaches the Capstone course. Among other volunteering, through SEO, she mentors underserved college students in getting hired into technology and finance roles in Corporate America.

“My work gives me a lot of energy because I’m making a difference and helping others,” she reflects. “I get very energized working with portfolio companies and teams, and when I see former employees or my students grow in their careers and thrive.”

She also loves spending time with family and friends, many of whom have a strong overlap in personal and work values. She cycles, runs marathons, and cooks as a daily analog way to unwind.

By Aimee Hansen