{"id":193043,"date":"2023-07-06T10:15:00","date_gmt":"2023-07-06T14:15:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=193043"},"modified":"2023-07-06T10:24:56","modified_gmt":"2023-07-06T14:24:56","slug":"coffee-with-the-head-of-it","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/coffee-with-the-head-of-it\/","title":{"rendered":"Coffee with the Head of IT"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">It has become an annual tradition that your author takes Heptagon\u2019s very own Head of IT out for a coffee, for&nbsp;<strong>what better way could there be to learn about future trends in technology?<\/strong>&nbsp;Unlike last year\u2019s edition, which had to occur&nbsp;<a href=\"https:\/\/www.heptagon-capital.com\/season-4-post-3-virtual-coffee-with-the-head-of-it\/\" target=\"_blank\" rel=\"noreferrer noopener\">virtually<\/a>&nbsp;owing to ongoing COVID-19 issues, last week your author was able to enjoy an Americano and our IT Head a Chai Latte in the real world, while discussing all things tech.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After only a short period of time,&nbsp;<strong>the conversation inevitably turned to AI<\/strong>. \u201cEven if you had been living under a rock\u201d, you would have heard the term, I was told, for it has \u201cexploded\u201d during the period since the two of us last discussed technology. As a consequence, your author was told,&nbsp;<strong>\u201ceveryone is jumping on the bandwagon.\u201d<\/strong>&nbsp;One only needs to look at the performance of so-called AI darlings in the stock market to see the veracity of this assertion. What was more interesting to learn, is why the attraction of AI? It was described to me as&nbsp;<strong>a \u201cgame-changer\u201d<\/strong>&nbsp;since it allows&nbsp;<strong>\u201cbetter access [to information]\u201d<\/strong>&nbsp;and can generate&nbsp;<strong>\u201cfaster turnaround\u201d than a human<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As exciting as all things AI sound, caution remains the order of the day. Sure,&nbsp;<strong>it is important to \u201cmove quickly\u201d<\/strong>&nbsp;in order not to be left behind.&nbsp;<strong>AI, if implemented correctly could be \u201ca source of competitive advantage\u201d<\/strong>&nbsp;for firms. It is hard to disagree with such a standpoint, although it was helpful to be reminded that since Large Language Models (LLMs) are \u201cwritten by humans\u201d and \u201chumans are not perfect\u201d, they will be subject to errors. Put another way, as we have argued in our own&nbsp;<a href=\"https:\/\/www.heptagon-capital.com\/your-questions-on-ai-answered-by-a-human\/\" target=\"_blank\" rel=\"noreferrer noopener\">research<\/a>, the intelligence generated by such models is, by definition, \u2018artificial.\u2019 Against this background, our IT Head was of the firm view that a \u201chuman element\u201d was still required to have oversight over the answers generated by LLMs. Nonetheless,&nbsp;<strong>AI, if implemented well, should \u201cspeed things up\u201d<\/strong>&nbsp;and allow resourceful employees to take on more tasks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There was more to our conversation than just AI. In between sips of coffee, we did have time to discuss cybersecurity, which ultimately&nbsp;<em>should<\/em>&nbsp;remain the leading concern of any IT professional.&nbsp;<strong>A security compromise could \u201cdisrupt everything\u201d,<\/strong>&nbsp;for any firm is \u201conly as good as its reputation.\u201d Might AI come to the rescue here, then, I was forced to ask? For sure, was the response, since&nbsp;<strong>\u201cbetter AI means better cyber.\u201d<\/strong>&nbsp;Security programmes trained on large sets of data should, all other things being equal, become better at pre-empting potential threats.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As we departed, a final thought occurred to me: if AI is getting better the whole time, how much of a threat might it pose to IT professionals? Our Head of IT provided a worthy response. For starters, \u201cpeople need [still] to work out how to get the best out of it\u201d, but even in a more digitalised and \u2018intelligent\u2019 world, it will remain hard for models to reproduce everything that people do; the ability to show empathy or to react to the unpredictable, for example. Rather,&nbsp;<strong>think of AI as an enabler<\/strong>, a tool to allow people to do things better, or, as our IT Head put it,&nbsp;<strong>\u201cAI will increase my powers \u2013 I encourage it.\u201d<\/strong>&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8212;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Originally Posted July 6, 2023  &#8211; <a href=\"https:\/\/www.heptagon-capital.com\/season-5-post-26-coffee-with-the-head-of-it\/\">Season 5, Post 26: Coffee with the Head of IT<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>The above does not constitute investment advice and is the sole opinion of the author at the time of publication.. Past performance is no guide to future performance and the value of investments and income from them can fall as well as rise.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It has become an annual tradition that your author takes Heptagon\u2019s very own Head of IT out for a coffee, for what better way could there be to learn about future trends in 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