In the Vault: AI and Banking Innovation with Tim Karpoff of Citi

a16z general partner David Haber and fintech partner Marc Andrusko talk to Tim Karpoff, the Global Head of Strategy at Citi, where he guides the bank’s core focus areas, as well as future investment in emerging tech like AI. The conversation covers the shifting landscape of banking policy and regulation, the increasingly important role startups are playing in partnership with big banks, and where Tim disagrees with the zeitgeist when it comes to the adoption of AI in financial services.0:00-1:05 Intro1:06-2:28 Navigating bureaucracy2:29-4:26 What "chief strategy officer" entails 4:27-8:18 Citi's role in the banking ecosystem8:19-9:16 Fallout from the 2023 banking crisis9:17-13:10 Citi's revised risk controls and tech investment13:11-14:59 How Citi works with startups15:00-20:00 Citi's future: AI and regulation20:01-23:33 What people get wrong when it comes to AI 23:33-24:12 OutroPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.