Founder, @MIT Cryptoeconomics Lab, @ccatalini on the latest episode of Tokenized said banks that send their data to closed frontier AI models are giving away the thing that makes them valuable in the first place.⁣ ⁣ "I think it's gonna be almost ridiculous a year from now or two years from now for any fintech or bank executive to send their traces back to a closed frontier model."⁣ ⁣ "They're essentially a finance verification factory. They can get information in, better measurement in, and they're gonna manufacture better tokens out of that process."⁣ ⁣ "If you don't own those traces, if you don't own your weights, if you're not running on a model that maybe is like an open weights model plus your proprietary context, you're essentially slowly sending your secret sauce away to someone else."⁣ ⁣ "Imagine a world where you're essentially just a dumb pipe, the holder of licenses, and all the value is created at the chat GPT level or at the cloud level. I think that's not the future banks want."⁣ ⁣ Whoever controls the agent that recommends which account to open controls the customer relationship, licence or not.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com by hosts @sytaylor and @cuysheffield