What tomorrow's hardware means for today's risk systems

The case for dynamic efficiency


Everyone knows the story of the silicon-based transistor and the impact it had on digital computer design – enabling engineers to dispense with the large, expensive vacuum tubes that were the first binary logic device and triggering a decades-long process of miniaturisation. What is often forgotten is the impact this revolution had on programming logic.

In the vacuum tube era, binary logic units were a scarce resource – indeed a binding constraint on computer performance – so a lot of effort was

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