Nikonomics - The Economics of Small Business 148 - AI SERIES: 4 - How Fear and Regulation Impact AI in Finance with David Kaylor
Apr 10, 2025
David Kaylor from Alchemy Technology, an expert in digital banking services, shares his insights on AI adoption in the traditional banking sector. He discusses the hesitation of legacy banks to embrace AI, revealing the gap between excitement and actual implementation. David showcases practical AI applications, including automating tasks with Google Apps Script and comparing useful models like Gemini and Grok. He also shares his amusing ventures in game development and highlights how to leverage AI for productivity and automation.
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Banking's Cautious AI Approach
- Banking is a "slow follower" in adopting AI due to regulatory fear and apprehension.
- Unlike other sectors, if not explicitly allowed, banks assume they can't move forward with AI.
AI Build Monster Game on Replit
- David built a click-based monster-destroying game on Replit using AI without being a programmer.
- The AI handled hosting and server setup, making game development accessible.
AI Models Suit Specific Tasks
- Different AI models serve specific use cases, like Gemini excels in Google ecosystem scripting.
- Choosing AI based on strengths optimizes automation effectiveness.