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  "documentTitle": "Banking: The future is back",
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      "text": "Even generative AI is going open source, as evidenced by Meta's commitment to \"embracing an open-source ethos\" for its Llama models. There are more than a million open-source AI models on Hugging Face, a platform dedicated to hosting open-source AI models.",
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      "text": "However, open systems are not without their risks. There are many \"versions\" of Linux and the supply chain for source code is highly distributed. This risk is universal, given that all major cloud providers are powered at the core by open-source foundations. When hackers inserted a back door into the heart of the Linux operating system they could potentially have gained access to all Linux-based systems, including those of the cloud providers. But as the ecosystem includes millions of users, the odds are that threats such as this will be discovered (in this instance, by a Microsoft engineer) and eliminated.",
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      "text": "There are other benefits too. By allowing banks to leverage a broader ecosystem of tools and services, open systems can lower the total cost of ownership. Open systems also encourage collaboration across different platforms and vendors, facilitating interoperability that enhances productivity and efficiency. And they increase security and transparency—the ongoing scrutiny of a larger user community means vulnerabilities are more likely to be identified and addressed quickly.",
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      "text": "As the leading system for cloud computing, Linux facilitates workload migration and supports the agility and efficiency that come with the move. By freeing banks from the constraints of their proprietary systems, it gives them the ability to easily customize their architecture to meet evolving needs, and to scale their operations as and when required. Innovation, which is stifled by legacy systems, flourishes on an open system.",
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      "text": "Open source goes beyond just the computing foundation. The Fintech Open Source Foundation (FINOS), an umbrella organization under the Linux Foundation, was launched in 2014 to encourage collaboration and innovation in financial services through the adoption of open-source software, standards and best practices. Today it has about 80 member organizations which support the foundation's more than 50 open-source, open-standard projects and special interest groups. In its latest report on the state of open source in financial services, FINOS revealed that publicly available data from GitHub shows a 26% increase in contributions by financial services users since 2023.",
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