Disruptive Technologies Are Getting Real for Firms

Financial services firms are finding that emerging, disruptive technologies are exerting a gravitational pull on the technologies and systems that are surrounding them, and this is a good thing, says Pete Petersen, chief technology officer (CTO) and chief cybersecurity officer for investment management firm Causeway Capital Management, based in Los Angeles.

“When you talk about artificial intelligence, machine learning, blockchain and the cloud, almost every other application, or use case, is going to be driven toward a combination of several or all of these technologies,” Peterson tells FTF News. “I would say these technologies are in the process of becoming real, right now.”

In fact, Peterson says that every day tremendous amounts of resources are being applied to innovation centers tied to the largest financial services centers across the planet. “These are gravitational-pull-type initiatives that eventually will — although they are low-use cases right now — these are going to ramp up,” Peterson says. “We have to be ready for that time in which they do [ramp up]. Is it 18 months, 24 months or five years? I don’t know. But the outcome is inevitable,” he says.

Petersen, who has been with Causeway since its June 2001 launch, was interviewed during FTF’s SecOps North America conference, Oct. 15-17, in Toronto. He took part in the “Old School IT Meets the Disruptors,” and “Facing the Threat of a Cyber-Attack” panels at SecOps.

CREDITS:
Videographer: Jared Lorenz c/o Livingface Photography, Toronto, Ont.
Video Editor: Janene Knox
Interview conducted by Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Eugene Grygo
Photography: Bard Azima c/o Livingface Photography

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