Augmentum CEO Tim Levene: Fintech’s AI bubble is no jive.

Tim Levene, the CEO of venture capital firm Augmentum, believes that much of the AI technology being developed in the fintech sector is overhyped and not yet ready for widespread adoption. Speaking on a podcast, Levene expressed doubts about the capabilities of many new AI-focused fintech businesses and suggested that a “lot of fintech AI is a bubble.” However, Levene also predicted that within the next five years, AI will become an essential part of wealth and asset management. He emphasized the need for AI to be built into existing platforms rather than trying to create standalone AI solutions.