European banking executives are increasingly concerned about the growing dependence of big U.S. tech firms on integrated artificial intelligence (AI) in financial services. Substantial computing power is needed for AI, and many banks believe they will struggle to operate AI independently. They fear a shift towards “Big Tech” and “Big Cloud” due to AI adoption requirements.
These concerns were widely discussed at a recent fintech conference in Amsterdam. I wish I had been there to remind them that they have direct control of the technology they deploy, and large companies and cloud providers don’t have a monopoly on AI. My best advice would be to calm down and remain objective enough to recognize there’s a reasonable path forward.
To read this article in full, please click here
InfoWorld Cloud ComputingRead More
