Financial Services
Goldman Sachs CIO says "there’s a great opportunity for capital to move towards the application layer, the toolset layer. I think we will see that shift happening..."
"We’re starting to see multimodal AI models, and I think one modality that hasn’t been fully exploited yet is that of the time series. This would be using AI to deal with data points attached to a particular timestamp..."
People take the hit to offset huge spending on tech, risk.
£100 million to build an application and a "fully functional transactional website"? We'll take it!
"Institutions continue to report gaps in risk control areas considered fundamental to cyber hygiene, such as proper identity and access management, timely vulnerability patching or network security"
Globally, natural catastrophes caused $100 billion in insured losses this year alone, with “at least” $12 billion of these total insured losses attributed to flood-related events.
"There is still work to do on developing appropriate business continuity and contingency plans and exit procedures where third parties provide critical operations"
"That’s definitely the hottest topic right now in tech for us across the bank,”
Courier dispatched with a USB stick carrying trade settlement details after systems disrupted...