GETTING CANDID: Standard Bank CIO talks about that hack and managing AI token budgets
AWS Summit Johannesburg brings together many of South Africa’s most influential techies. Standard Bank’s tech chief Jörg Fischer chose the occasion to answer questions from Daily Maverick.
Standard Bank Chief Information Officer (CIO) Jörg Fischer spoke at AWS Summit Johannesburg about the bank's handling of the Rootboy hack and its investments in AI hardware through the Stanlib infrastructure fund. Fischer introduced the concept of token budgets for AI usage, explaining that corporates typically pay for generative AI use through a mix of methods, with code building mostly billed by the token.
He divided his token spend into three categories: staff and productivity tools, software engineering tools, and bespoke AI applications on Amazon Bedrock. Fischer emphasized value creation rather than cost when managing these token budgets, and highlighted the bank's architectural approach of complete partitioning for each use case, allowing for operational flexibility and cost efficiency.
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