Business of Tech: Daily 10-Minute IT Services Insights Navigating AI Adoption and Cybersecurity in Regulated Financial Firms: Insights from Triada Networks with Raffi Jamgotchian
Dave Sobel interviews Raffi Jamgotchian, founder and CEO of Triada Networks, about the current landscape of AI adoption in the financial services sector, particularly among small to medium-sized investment firms. Jamgotchian notes that while some clients are eager to embrace AI, others remain hesitant, mirroring trends seen with cloud technology. For those leaning into AI, Triada Networks is focusing on proof of concepts, helping clients structure their data effectively to leverage AI tools, especially in data analytics and research.
Regulatory considerations play a significant role in how firms approach AI implementation. Many of Jamgotchian's clients operate in regulated environments, which affects their choice of data models and the types of large language models (LLMs) they can use. The challenge lies in handling sensitive, non-public information without risking regulatory violations. As firms navigate these complexities, the importance of data preparation becomes evident, with varying levels of readiness among clients impacting their ability to utilize AI effectively.
Cybersecurity is a critical aspect of the conversation around AI and data management. Jamgotchian highlights that clients are increasingly proactive in seeking guidance on cybersecurity implications related to their business decisions. This shift is attributed to a combination of heightened regulatory scrutiny and a growing awareness of cybersecurity risks in the market. The conversation has evolved from being initiated by service providers to clients actively engaging in discussions about their cybersecurity needs.
Looking ahead, Jamgotchian emphasizes the importance of monitoring regulatory developments, particularly from organizations like FINRA and the FCC, as they relate to AI. He anticipates that AI-related lawsuits will emerge, prompting changes in laws that could impact managed service providers (MSPs). The conversation concludes with a recognition that while the MSP landscape is evolving, the core mission of solving business problems through technology remains unchanged, and those who adapt will thrive in the future.
All our Sponsors: https://businessof.tech/sponsors/
Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/
Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/
Support the show on Patreon: https://patreon.com/mspradio/
Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech
Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com
Follow us on:
LinkedIn: https://www.linkedin.com/company/28908079/
YouTube: https://youtube.com/mspradio/
Facebook: https://www.facebook.com/mspradionews/
Instagram: https://www.instagram.com/mspradio/