The AI gold rush: Who will control the future of money?

The AI gold rush: Who will control the future of money? -Tenity Insights from Davos 2025

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The financial industry is undergoing one of the most profound transformations in history. Artificial intelligence (AI), fintech, and Web3 are redefining how money moves, how decisions are made, and who holds power in finance. But as AI-driven financial agents and big tech platforms gain traction, a pressing question arises:

Who will control the future of finance—banks, technology giants, or decentralized systems?

At Davos 2024, Tenity sat down with Ronit Ghose, Head of Future of Finance at Citi and author of Future Money: Fintech, AI, and Web3, to discuss how AI is shifting financial power, what the rise of intelligent agents means for banks, and whether Web3 can make a comeback in this AI-driven world.

This conversation cuts through the hype to uncover real changes shaping global finance. For startups, fintech leaders, investors, and financial institutions, it’s a glimpse into what’s next—and how to stay ahead.

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AI in Finance: The shift to intelligent agents

"We’re moving from a ‘tell me’ economy to a ‘do it for me’ economy.”

One of the biggest takeaways from Davos 2024 is the acceleration of AI-powered financial agents—intelligent assistants that can manage banking transactions, optimize investments, and automate financial decision-making.

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Key developments in AI-driven finance

• AI-driven agents will automate financial decision-making and user interactions.
• Financial power is shifting from institutions to individuals, giving consumers more control.
• Trust will be the defining factor—who will users rely on to build and manage these AI-driven financial assistants?

With AI taking over complex tasks, the traditional role of banks is evolving. Rather than being financial intermediaries, banks may need to compete with tech-driven AI platforms that offer more seamless and personalized financial services.

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Banks vs. Big Tech: The fight for financial control

Are banks losing relevance in an AI-driven financial world?

"In a few years, we won’t just use apps—we’ll have AI agents running our financial lives.”

The conversation highlighted the growing tension between traditional banks and big tech players like Apple, Google, and AI-driven ecosystems. With AI seamlessly integrating financial services into user experiences, fintech and AI-first platforms could replace many of the functions traditionally controlled by banks.

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The growing influence of big Tech in Finance

• AI-driven personal finance tools are making banking more intuitive and frictionless.
• Tech giants are integrating financial services seamlessly into their ecosystems.
• Consumers increasingly trust tech firms over banks for money management.

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Financial institutions now face a major decision: Should they develop their own AI-driven solutions to compete with big tech, or should they collaborate with these platforms to remain relevant?

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Web3 and AI: A new era for decentralized finance?

"The rise of AI and blockchain together could reshape payments, lending, and digital identity."

Web3 was once positioned as the next big thing in finance, but its growth slowed in recent years. However, with AI’s rapid adoption, Web3 is re-emerging as a critical part of decentralized finance (DeFi) and the future of digital transactions.

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How AI and Web3 Are Converging

• AI-enhanced smart contracts could make financial transactions more autonomous and secure.
• Blockchain-based AI models could improve data transparency, security, and risk assessment.
• Crypto-powered AI financial agents could facilitate decentralized payments and automated lending.

While there is hype surrounding AI and Web3, there is also real progress happening in decentralized AI applications. For fintech founders and investors, understanding how AI enhances Web3 could be key to building next-generation financial solutions.

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The Future of Money: AI, decentralization, and consumer power

"AI is eating everything. The question is, how will finance adapt?"

One of the most critical shifts in global finance is the transition from institution-controlled money to AI-powered, user-driven financial systems.

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What to expect in the future of finance

• AI-driven financial assistants will manage everything from daily transactions to wealth-building strategies.
• Traditional banking will become invisible, as financial services integrate into everyday digital experiences.
• Fintech startups, big tech, and decentralized platforms will compete for dominance.

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This evolution presents opportunities and risks. Will AI-powered finance truly empower individuals, or will it consolidate power in a few dominant platforms?

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For more insights into fintech investment trends, corporate venture capital,and startup growth strategies, subscribe to Innovation. Connected – World Economic Forum Davos 2025 Edition.

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