Everyone is now an AI company. But here’s the real challenge
The “AI” label no longer makes companies special. In today’s world, that is a fact that needs to be accepted.
Even just a year ago, if a business simply mentioned being “AI-powered” it was enough to immediately gather attention and appear innovative. Investors quickly grew excited, and media outlets were quick to pick up the next “hot story.”
Of course, that didn’t always mean that there was truth to such statements. The concept of AI washing — when companies misrepresented or even outright lied about the use of AI tools in their operations — had certainly done its share of damage to this industry while it stayed prevalent.
But today, even without such lies, the effect of AI novelty is disappearing. Every fintech company now has some kind of AI story. Compliance platforms use AI monitoring. Banks and fintechs talk about AI-driven service personalization. Chatbotsand AI assistants are utilized...
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