Augmentum CEO Tim Levene: Fintech AI—a bubble waiting to burst?

TLDR: Tim Levene, CEO of venture capital firm Augmentum, predicts that AI will see mass adoption in the wealth and asset management industries within the next five years, but believes that much of the current AI in fintech is a bubble. Levene discusses the potential of AI in areas such as fraud detection, risk assessment, and customer service, but notes that many new AI businesses are failing to deliver on their promises. He stresses the importance of thorough due diligence when investing in AI startups, as well as the need for collaboration between incumbents and startups in order to achieve success in the AI space.