As AI fever sweeps finance, it is neither delivering the profit nirvana predicted by tech evangelists nor hastening the doom the Cassandras have warned about. Or at least not yet.
A few months ago, a New York financier told me he had just experienced a “first”: his 2025 summer interns “were the first true AI natives I have seen”. This meant they had grown up not only among digital tech, but AI too.
So how did it go? He winced. While those wannabe masters of the universe initially seemed wildly impressive, when senior financiers later probed their ideas, they found them alarmingly shallow.
Financial Times
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