Open Source in Finance Forum New York 2024

In this thought-provoking presentation, we explore the profound impact of artificial intelligence (AI) on software development within the financial services industry. Drawing parallels with historical technological revolutions that reshaped economies, such as the Roman water mills, the steam engine, and the early 2000s push for automation, we demonstrate how AI is poised to be the ultimate general-purpose technology of our time. We delve into the economic and technological implications of AI adoption, highlighting how it drives increased productivity, cost reductions, and an unprecedented expansion of demand for innovative financial products and services. The presentation underscores the emerging productivity polarity, where those who embrace AI will gain a significant competitive advantage over those who resist its integration. Recognizing the pivotal role of open source in driving innovation within the finance sector, we emphasize the urgency for technologists to seamlessly incorporate AI into their daily workflows. By doing so, developers can position themselves as vanguards, fostering collaboration and unlocking new frontiers in open finance software development.