Everyone’s using AI. So where does the advantage come from?
- Whether it's banks or fintechs, a consensus is taking shape: AI's biggest advantage comes from the data behind it.
- As AI expands across customer experiences and internal operations, messy enterprise data is becoming the biggest barrier to better outcomes.
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Everyone’s using AI. So where does the advantage come from?
Why every AI strategy is becoming a data strategy.
Two years ago, the AI race was about models. Now large language models (LLMs) are increasingly capable and widely accessible. The performance gap between them continues to narrow. As that happens, financial firms are realizing that the harder challenge now is actually giving those models something meaningful to reason over.
Across recent conversations with executives from Intuit Credit Karma, J.P. Morgan Payments, Deloitte, and others, it’s becoming clear that AI is only as valuable as the data, context, and systems surrounding it.
Derek White, former CEO of Galileo Financial Technologies, distills that thinking into a key takeaway: “AI applications are only as good as the data that goes into them, and the human oversight and strategy used to guide and deploy them.”
Data is THE product
AI is taking different forms across the financial services landscape.
Credit Karma is using AI-powered assistants to recommend what consumers should do with their debt, tax refunds, and paychecks. J.P. Morgan Payments is preparing for AI agents capable of shopping and transacting autonomously. Smaller banks are experimenting with Gen AI to improve fraud detection and customer service.
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