Alex_Bond

My bet will be on core banking software provider issues. I think they did try to talk to theirs and got a response like, "We can do it in 5 years, and you will have to pay XXX million to us to do it".

There was a large-ish scandal in the late 2010s when some core banking providers were delaying Zelle integrations for smaller FIs, and they started complaining as customers were demanding it and leaving the larger competitors with it.

Another option can be as simple as this - they fear tech as most don't understand it. When I was working on a corporate charge card startup, my co-founder and I faced this issue many times. The craziest experience was when the bank was ok to be issuing bank for us but requested our clients to go to their branches to sign paperwork (the bank literally has maybe 5 branches in the whole USA).

The more I reflect on this article, the more it seems that companies like OpenAI have quickly gained influence through lobbying, which is somewhat alarming. It raises concerns about how vulnerable the government may now be to aggressive lobbying efforts by corporations looking to profit from federal budgets—essentially, massive sums of money.

With recent claims about OpenAI's growth, I'm questioning if they expect that most of the growth will come from government contracts rather than just general subscriptions. While enterprise companies are slow and cautious about LLM integrations, the government can be an easy target for current hype.