An interesting survey about venture capital attitudes to data and tech echoes trends in the financial services industry writ large. VC invested some $24.6 billion in AI and machine learning in 2018, according to PitchBook data, and while this figure includes more than just the financial services sector, fintech investment has come in at record levels too last year.
Still, it’s a question we’ve often considered without a clear answer: whether the types of firms that invest in fintechs developing advanced technologies like AI and machine learning, use it themselves. That’s exactly what the survey aimed to determine for the VC community, and results are mixed.
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