CTalk
“Almost all of our portfolio companies are using AI in varying capacities”
Lindsay Fitzgerald, Managing Partner at Vesey Ventures, spoke to CTech during Mind The Tech in New York.
Lindsay Fitzgerald, Managing Partner at Vesey Ventures
(Photo: Tomariko - Live Focus)
“Almost all of our portfolio companies today are using AI in varying capacities, but I think financial services, while it feels like a very scary use case for AI because it's sensitive data, is probably one of the hardest data problems to solve,” said Lindsay Fitzgerald, Managing Partner at Vesey Ventures. “Banks sit on a ton of data. All of the SaaS tools that CFOs are using to run their businesses, a ton of data is sitting in different silos. Think about how much a CFO sits there and is comparing spreadsheets and finding discrepancies - that is extremely low hanging fruit for AI."
Fitzgerald spoke to CTech at Mind The Tech about the impact that AI will have on the financial sector. Vesey Ventures is an early stage VC fund in the fintech space with partners in Tel Aviv and New York, making it equally focused on American and Israeli technologies.
“I think probably the biggest adoption point for banks and financial services companies will be risk mitigation for AI,” she continued. “How do we defend against AI? Then once we figure that out, let in the good AI… The fraudsters adopt technology much faster than the financial services company.”
You can watch the entire exchange in the video above.
