JPMorgan Software Does in Seconds What Took Lawyers Many Hours
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Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#2I would like to see what's behind the hood.
Since JPM is a bank I guess they used SAP HANA using the text analysis services... but I would like to know a bit more about the project.
Any pointers?
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#3You've likely heard the quote that "every company is a technology company", mostly used in the context of companies needing to be doing everything they can to leverage and exploit new technology, or they'll be left in the dust by more proactive competitors.
With that in mind, a key quote for me in the article was this:
>To help spur internal disruption, the company keeps tabs on 2,000 technology ventures, using about 100 in pilot programs that will eventually join the firm’s growing ecosystem of partners.
I think there will be a role emerging within Enterprises, (sort of like an "insurance broker" who finds the best coverage options among a sea of choices), that will be responsible for surveying new technologies that could potentially help the firm, and running pilot programs to see how they potentially help make the org. more efficient or more competitive.
One could argue that this is really the CTOs role, and it is, but often CTOs are focused on building their own technology, or maintaining existing legacy systems, and not so much on finding and implementing new technology that has not yet hit the main stream. So, at least the focus needs to shift.
*edit: typos
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#4You've likely heard the quote that "every company is a technology company", mostly used in the context of companies needing to be doing everything they can to leverage and exploit new technology, or they'll be left in the dust by more proactive competitors. With that in mind, a key quote for me in the article was this: >To help spur internal disruption, the company keeps tabs on 2,000 technology ventures, using about…
There are a growing number of consultants who have realized that a model exists helping enterprises work with startups.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#5This makes me wonder if we'll be entering a legal world that's complex to the degree that only computers can understand it.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#6This makes me wonder if we'll be entering a legal world that's complex to the degree that only computers can understand it.
And a world where if your contract does not meet with the approval of the computer, you are screwed with no recourse just like you are when Paypal decides to freeze your account because one of their algos detected "fraud"
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#7This makes me wonder if we'll be entering a legal world that's complex to the degree that only computers can understand it.
And a world where if your contract does not meet with the approval of the computer, you are screwed with no recourse just like you are when Paypal decides to freeze your account because one of their algos detected "fraud"
> when Paypal decides to freeze your account because one of their algos detected "fraud"
Even thinking about the times that happened to my company brings red in front of my eyes. Not many companies are that bad luckily. Google adsense/adwords comes close.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#8Laws resemble computer programs in many ways, so I suppose it is only natural that computers be made to interpret them.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#9Earlier quoted context omitted.
And a world where if your contract does not meet with the approval of the computer, you are screwed with no recourse just like you are when Paypal decides to freeze your account because one of their algos detected "fraud"
> when Paypal decides to freeze your account because one of their algos detected "fraud" Even thinking about the times that happened to my company brings red in front of my eyes. Not many companies are that bad luckily. Google adsense/adwords comes close.
Blaming the algo is a nice cop-out by Google and Paypal and on top of that they can afford canning their customer without many issues for them
But how much is that going to cost them over long term instead of having actual thinking people reviewing the cases remains to be seen
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#10I would like to see what's behind the hood. Since JPM is a bank I guess they used SAP HANA using the text analysis services... but I would like to know a bit more about the project. Any pointers?
According to this same Bloomberg article, JPM has 20k+ developers, I am fairly sure they develop a significant portion of the softwares they use internally, including their own cloud.
See the original article, 8th paragraph (under the sub heading "Redundant Software")