FinTech LIVE Singapore 2025: Exploring AI-driven Competition
In an increasingly digital world, fintech organisations must embrace technological advancements - including AI - to unlock new opportunities.
Paul Gladigau, CTO of Equifax, featured at FinTech LIVE Singapore to discuss how fintechs can thrive in an AI-enabled world, covering key challenges, market realities and the role of people in improving innovation.
Understanding the AI market opportunity
He opens his keynote by addressing a key question: is there a market for AI in fintech?
Paul references a 2024 study by TCS, which found that while 94% of businesses have attempted to implement AI, only 12% have seen a return on investment.
This, he notes, highlights a widespread failure in AI adoption.
Paul attributes much of this to confusion in the market.
Businesses struggle to define AI’s role, whether as a human-assisted tool, an augmentation of human work, or a fully autonomous system.
Without clear articulation, he argues, AI adoption stalls.
To make sense of AI’s place in the industry, Paul outlines a framework.
He positions AI solutions along a spectrum:
- Human-assisted AI, such as chatbots and knowledge services, supporting human decision-making.
- Augmented AI, like Co-Pilot and Gemini, helping workers be more effective.
- Autonomous AI, where systems operate independently, though still under human oversight in many cases.
Paul notes that fintech firms must be realistic about where their AI solutions fit within this spectrum to ensure effective implementation.
The hidden challenge: risk management
A critical factor in AI adoption, Paul explains, is risk management.
Whether working with large banks that operate within strict regulatory frameworks or smaller firms with different levels of risk perception, fintechs must address these concerns early.
Risk management extends beyond compliance, covering areas such as data integrity, security and the reliability of AI models.
Paul stresses the importance of understanding data sources and potential biases within AI training models. “Every data model has an unintentional bias,” he warns, highlighting the need for fintechs to assess data usage rights and ensure ethical AI implementation.
Cloud infrastructure was another key consideration.
Paul encourages fintechs to build on existing hyperscale solutions, leveraging their security, scalability and reliability rather than attempting to develop proprietary AI platforms from scratch.
He advises firms to align with cloud providers whose product roadmaps align with their long-term AI ambitions.
The people factor: curiosity over qualifications
Paul closes his keynote by focusing on the people behind AI adoption.
He argues that many AI-related challenges are not purely technical but rather stem from a lack of the right talent and expertise.
Rather than hiring based on technical skill alone, he prioritises curiosity in candidates.
“The core part of my hiring program is I don't necessarily hire all the time for domain or skill, etc. I hire for one trait, and that one trait is curiosity.”
To illustrate this approach, he shares how Equifax crowdsourced its generative AI initiative within its technology team, inviting volunteers to dedicate discretionary time to the project.
Within 36 hours, 17 employees had signed up - demonstrating that fostering a culture of learning can be more powerful than traditional top-down project management.
Ultimately, Paul’s message was clear: While AI presents immense opportunities, fintechs must address market confusion, navigate risk management effectively and cultivate the right talent to drive innovation.
His insights set the stage for broader discussions at FinTech LIVE Singapore, as attendees explored how to turn AI potential into real-world fintech success.
Essential diary dates for 2025
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- FinTech LIVE Dubai | 6 May
- FinTech LIVE New York | 17 June
- FinTech LIVE London | 7-8 October
- The Global FinTech Awards | 7 October
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