Mmastodon BusinessBanking first seen 5 d ago, last 5 d ago, peak #4

AI firms set to challenge banks' core business

Original: # AI is coming for banks' business, but the industry can fight back It's only a matter of time before frontier AI firms

Commentary is warning that frontier AI companies will soon move into financial services, threatening to take business from traditional banks. The argument is that it is not too late for the banking industry to respond, by adopting the technology and competing with the newcomers on their own terms rather than ceding ground to them.

Why now: Rapid advances in AI are raising concerns across finance about disruption from tech firms entering banking.

banksfrontier AI firmsfinancial services industry

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Evidence

• # AI is coming for banks' business, but the industry can fight back It's only a matter of time before frontier AI firms begin moving into financial services, but it's not too late for the industry to beat the newcomers at their own game. https://www.… · AlexJimenez@mas.to

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