"You can't just be in the AI business." Freedom Holding founder on business priorities

AI technologies cannot solve all business problems if the rest of the project infrastructure is not in place. This was the view expressed by Timur Turlov, founder of Freedom Holding, at the Financial Times Global Banking Summit in London.

The businessman took part in a discussion on the future of the banking business. "The demands for change," Turlov remarked, "are always very high, and talking about AI, I personally understand that it's just another technological layer. You can't just require the whole team to focus on AI product development and do less on everything else. Because a project that doesn't have enough infrastructure is very hard to manage. <...> AI can't work as it should if everything else isn't in place." That's why business teams, Freedom Holding's founder believes, "just can't change the prioritization."

"Our business," continued Turloff, "demands more and more from development teams every year. But I have a joke about this: 'One developer will do it in a month, and three developers will do it in three months'." So often "the bigger your team, the less efficient it is," the entrepreneur believes.

"That's why I try to separate the teams," Turlov added. - "If we really need to produce more and we have enough finances to do so, I prefer to create a 'microservice architecture' in the context of management. To create as many independent teams as possible that will be able to develop autonomously and not rely heavily on the others."

Financial Times Global Banking Summit is a major banking conference held annually in London. Participants discuss key topics in geopolitics, economics, technology, climate, and global business and investment.

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