00:00 Julie
this Anthropic mythos model, right? That um regulators in Washington have flagged the big bank CEOs about just this increased cyber security risk.
00:08 Julie
Do you think the bank the banks are they I mean, up till now they knock on wood, they seem to have been up to the task. Is are they going to continue to be?
00:15 Speaker B
Well, in terms of their own risk from Anthropic?
00:18 Julie
Or from or from these AI models in general.
00:21 Speaker B
I I think it is an issue. I I just had to sign an attestation the other day for a firm I work with, uh, not to use AI tools that are not approved by the firm.
00:30 Speaker B
And that’s because there are operational risk issues with these tools. They are not good enough yet to be client facing, particularly for things like investment banking, prospectuses, things like that.
00:44 Speaker B
Where I see AI adding a lot of value, Julie, is on internal facing functions, where you’re using them for development, you’re using them for other tasks that are not necessarily focused outside the firm.
00:58 Speaker B
I I I still think that the consumer piece of AI is going to be a throwaway. It’s it’s going to be zero revenue for these firms.
01:06 Speaker B
And you know, whether how many models do we need, Julie? We need one. That’s what it comes down to.
01:13 Speaker B
So all the competition around AI, you see the number of data centers that everybody’s planning on building being paired back dramatically. You see the problems with Oracle and other firms that have put on debt to finance this activity.
01:26 Speaker B
I think we’re going to see this whole AI experiment walk back this year in terms of expectations for revenue, spend the whole bit.
01:36 Speaker B
And you know, nothing has changed here. I you know, we’ve seen this movie before. We just have different buzz words.
