Fintech Reckoning: Will Incumbents Pick In-House AI over Startups?

As financial institutions explore the potential efficiencies of in-house AI deployment, the trend could change the role fintech startups play as purveyors of innovation.

The nimble, boundary-pushing nature of startups often means they dabble in novel ideas before incumbents. The more that organizations great and small inject AI into their ecosystems, does it reduce the interest on startups to drive new efficiencies and concepts?

In this episode of DOS Won’t Hunt, Angela Friend, vice president of data science and AI with DailyPay; Adnan Masood, chief AI architect with UST; and John Lin, investor with F-Prime Capital, discuss how the spread of AI among incumbent financial institutions might affect their pursuit of innovation through startups.

As efficiencies of AI continue to be touted, do incumbent financial institutions still need smaller, nimble startups to catalyze innovation? What are some common pain points financial institutions want to solve via technology? And how might startups try to speak to those pain points in ways large incumbents cannot?

Listen to the full podcast here.