From robot advisors to fraud detection, AI is getting everywhere. While fintechs excel in specific applications â a Robot Advisor is already among the Top10 equity funds â most traditional institutions concentrate their focus on using AI for automation and efficiency.
And although legacy systems are still an issue for big banks, they find creative ways to benefit from external innovation by investing a lot of resources in Proof of Concepts and Start-up ecosystem. For instance, most hubs for tech start-ups in Sao Paulo are funded by banks.