00:00How concerned are you, and how much oxygen has been sucked out of the room from Mythos
00:04and some of the cybersecurity concerns from earlier this year?
00:07We heard some of your peers talking about that, and anecdotally we hear a lot of fundamental
00:12concern about the risks to the financial system.
00:15I think the administration looked at it quickly, the secretary of the treasurer and others
00:21said wait a second, and so we all got started on this and we've all been working a long
00:25time, and yet it just speeds up the pace of the work you have to do to patch the systems
00:32and do the things.
00:33So it's a serious concern.
00:35I think the so-called AI industry and industry at large have worked together, but you can't
00:43think that we're ever going to be able to control this because there's foreign models that people
00:46use.
00:47Not everybody's going to have the same thought process that our country has, but our country's
00:51tried to handle it and tried to be fairly systematic about it.
00:54But it's a big change in the amount of work that will have to go on and the pace at
00:58which
00:58these tools will affect your vulnerabilities in your system and how fast you have to take
01:03care of that.
01:04That's the core work that's going on.
01:06And then you've got proprietary software, open source software, open source supported
01:10software, third party software, and we're making sure the third parties are doing the
01:16work and working cooperatively with the team.
01:18We have a great team there.
01:19We have 3,000 plus people that work in that area, a billion dollars plus a year in spending.
01:25And they do a tremendous job under a fellow named Chris Fader, under Hari's leadership,
01:29and they do a tremendous job for us.
01:31And they work very cooperative with their peers.
01:33And so you should rest assured we're all working hard on it.
01:37You should rest assured it's a serious issue.
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