Keep pulling the thread on Russell Kaplan.
The US government spends more than $100 billion per year on IT.
Critical systems for the US Treasury and Social Security Administration are powered by tens of millions of lines of COBOL code.
The business strategy of using high switching costs to create a moat will no longer be effective due to AI's ability to automate migrations.
Cognition works with the US Army, the US Navy, the US Treasury, and NASA JPL.
A large Fortune 500 client of Cognition now uses Devin to build a prototype of any software before procurement, using it as a negotiation tactic to get discounts.
Cognition launched its AI software engineer, Devin, in March 2024.
The performance gap between the best frontier AI models on software engineering benchmarks has decreased by more than 50% in the last 12 months.
Itaú used Devin to complete the bulk of its CNPJ taxpayer ID migration project in 3 weeks, a task originally planned to take 2 years.
Malicious actors are using AI tools to discover software vulnerabilities in novel ways that were previously difficult to find manually.
Some large financial services firms use Devin to automatically triage and attempt to remediate every CVE vulnerability before human review.
Devin currently has a 70% success rate for fully automatic remediation of CVE vulnerabilities, where its suggested code change is accepted without human modification.
By 2028, it is predicted that human engineers will no longer need to understand the code they put into production, instead writing high-level specifications in English.