In this episode of Serious Privacy, K Royal and Paul Breitbarth host the new and first Chief Innovation Officer of the Federal Deposit Insurance Corporation (FDIC) in the US, Sultan Meghji. Sultan has a rich history as co-founder of Neocova which specializes in AI software for financial institutions, an adjunct professor at Washington University’s Olin Business School, a scholar of the Carnegie Endowment for International Peace, and an alum of the FBI Phoenix Citizens Academy - where he met K over a decade ago. But as the first Chief Innovation Officer, the initial focus is on - what is his job description?
It is clear that Sultan’s expertise flows across a broad span of what Serious Privacy’s listeners are interested in, such as security and privacy by design, technological innovation in the financial services, and how the US fits into the global market. Given that Sultan is new to the role, he does not yet have any major policy initiatives to announce, but did provide a teaser on some tech innovation which we should see come out in the near future and which fulfills the FDIC’s desire to advance financial technology on a rapid pace of adoption.
Join us as we discuss how the financial market has changed in the past few decades with artificial intelligence, cyberevents, and the ripples of the interconnectedness of the market and technology. We also peek into what the next few decades may look like, but the new normal that we are in, it is difficult to predict any certain future. We also discussed ransomware as a service, engineering resilience, and advantages of liberal democracies. Sultan did emphasize that he wants to hear from the public on ideas for or problems with financial services and technology and he can be reached at innovation@fdic.gov.
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