{"id":207292,"date":"2024-05-29T09:45:00","date_gmt":"2024-05-29T13:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=207292"},"modified":"2024-07-15T14:40:00","modified_gmt":"2024-07-15T18:40:00","slug":"coffee-with-the-cto-2024-edition","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/esg\/coffee-with-the-cto-2024-edition\/","title":{"rendered":"Coffee with the CTO, 2024 edition"},"content":{"rendered":"\n<p>There are few things your author looks forward to more than sitting down for his annual chinwag with Heptagon\u2019s Chief Technology Officer (previous editions can be found&nbsp;<a href=\"https:\/\/www.heptagon-capital.com\/season-5-post-26-coffee-with-the-head-of-it\/\">here<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.heptagon-capital.com\/season-4-post-3-virtual-coffee-with-the-head-of-it\/\">here<\/a>). Over cups of Americano and salmon-avocado rolls in the beautiful London spring sunshine, we discussed all things from AI to cyber. If there was one key take-away, then it would be that \u201c<strong>without security, we are nothing.\u201d<\/strong><\/p>\n\n\n\n<p>Readers should not be surprised by this comment.&nbsp;<strong>The annual cost of cybercrime hit $8.5tr last year and is forecast to rise by at least $5tr over the next five years<\/strong>&nbsp;(per&nbsp;<a href=\"https:\/\/www.statista.com\/chart\/28878\/expected-cost-of-cybercrime-until-2027\/\">Statista<\/a>). The \u201cfoundation\u201d for all businesses should \u201cstart with security.\u201d Any organisation, of course, is \u201conly as strong as its weakest link\u201d and so \u201ccreating a culture of paranoia\u201d and \u201chesitancy among users\u201d matters. Ongoing training, particularly in respect of spotting phishing emails is, therefore, integral.<\/p>\n\n\n\n<p>Could AI help? Sure, technological advances have made cyber criminals more sophisticated in their approaches but so too have the defences of businesses become more robust.&nbsp;<strong>\u201cWe\u2019re fighting AI with AI.\u201d<\/strong>&nbsp;Artificial intelligence can \u201chelp learn how we work\u201d and one of its key benefits for those seeking to secure systems is its strength in pattern recognition and spotting potentially abnormal behaviours. It is also important not to lose sight of the fact that over time AI will only become \u201cmore refined.\u201d<\/p>\n\n\n\n<p>As powerful as AI may be, we were also reminded that&nbsp;<strong>\u201ceveryone [has] jumped on the hype.\u201d<\/strong>&nbsp;The technology may be getting better with each iteration but it \u201ccannot augment and lift everything.\u201d There remains the danger that outputs are potentially \u201crobotic\u201d as well as models still being susceptible to hallucinations.&nbsp;<strong>If deployed incorrectly, then AI could end up being \u201cdetrimental<\/strong>\u201d to any organisation.<\/p>\n\n\n\n<p>The good news is that&nbsp;<strong>in the future AI will be \u201cdoing things we haven\u2019t even thought about.\u201d<\/strong>&nbsp;The experience of mobile telephony may be instructive. Conceive of how the then-sophisticated Nokia handsets of the 1990s evolved to the almost ubiquitous iPhone, with facial recognition and more that is used today. The latest version of OpenAI\u2019s popular large language model (Chat GPT-4 Omni) \u201ccould be a game-changer.\u201d Project further ahead and&nbsp;<strong>the AI \u201ckiller app\u201d might be some form of personal assistant<\/strong>&nbsp;able to pre-empt our every need. Maybe next year\u2019s coffee with the CTO will be conducted between two avatars transcribing and summarising the conversation in real-time. But then again, the smell of fresh coffee is very enticing.<\/p>\n\n\n\n<p><em>The Future Trends Blog will not be publishing next week since both your author and Heptagon\u2019s CTO will be away at the firm\u2019s annual offsite in Greece. The Blog will return in mid-June.<\/em><\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted May 29, 2024 &#8211; <a href=\"https:\/\/www.heptagon-capital.com\/season-6-post-21-coffee-with-the-cto-2024-edition\/\">Coffee with the CTO, 2024 edition<\/a><\/p>\n\n\n\n<p><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>If there was one key take-away, then it would be that \u201cwithout security, we are nothing.\u201d<\/p>\n","protected":false},"author":597,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5924,6,8,9,26,3],"tags":[429,483,147],"contributors-categories":[13720],"class_list":{"0":"post-207292","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-esg","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-agriculture","13":"tag-coffee","14":"tag-commodities","15":"contributors-categories-heptagon-capital"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Coffee with the CTO, 2024 edition | 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