TECH & AI

With more than 20 years of tech industry experience, Ashish Devalekar, Executive Vice President and Head of Europe at Mphasis, notes that financial services institutions are currently focused on three core challenges: legacy infrastructure, generative AI implementation and quantum technology.

“ Large banks and insurers are all straddled with legacy infrastructure,” he says.“ Until about 12 months ago, generative AI was a boardroom discussion but now cyber is being raised by a lot of our clients who are interested in the implication of tools like Claude Mythos and what their options are for solutions.

“ So, we are helping them to look at their legacy infrastructure, identify those threats systematically and prepare an inventory of assets, which we believe are exposed to cyber risks – a lot of them don’ t even have that inventory!”

The urgency surrounding modern threat vectors stems from how fast autonomous systems can operate.

“ People are worried about what happens once Mythos becomes generally available and what extent of misuse is possible – normally the cooling off period from the time you identify vulnerability to the time you fix it is about 28 days form a cyber standpoint but now the clock is ticking so fast that it’ s not evenzero to five days.

It’ s zero minus God knows what,” Ashish explains.“ If this falls in the hands of wrong actors, what extent could someone go to expose a company’ s weaknesses?

“ If you don’ t have the right security guardrails in place, the possibility of a bad actor accessing that information and then leveraging it to sell it on the dark web increases quite significantly.”

The traditional“ cooling off” period to patch a cyber vulnerability after it is identified used to be

There are

to lifecycle phases for software development

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