The Most Overused and Underused Fintech Buzzword Right Now | FF News at Fintech Meetup 2024

Walk around any conference hall today and it will be clear what the most overused buzzword is.

At a few events, we’ve been asking people what the most overused buzzword in fintech is, with unsurprising results. One word in particular is inescapable and in this video which has answers from attendees of Fintech Meetup 2024, we heard it a few times.

This really is no surprise, as according to Collins, the dictionary publisher, usage of the word AI (as an initialism) quadrupled in 2023, when it was named ‘word of the year’. For good reason too.

There was a huge boom in its usage as ChatGPT went mainstream and Generative AI tools and assistants started popping up in all sorts of software and services. The Artificial Intelligence market size is projected to reach $305.9bn in 2024, and Generative AI specifically is predicted to become a $1.3 trillion market by 2032.

At Fintech Meetup, it was certainly prevalent with many of the delegates we spoke to representing an AI focused or AI adjacent company. There were also many speakers from AI focused fintech companies or even tech titans like Nvidia who have an integral role to play in the technology’s development.

There’s no doubt it’s important. But it’s easy to get taken in by the hype, so there’s no surprise that people think it’s overused, often at the expense of other equally beneficial things.

And there were other things brought up, as you can see from the video above, including fraud (which is of course still an important topic), synergy and embedded finance.

Far more interesting however was what our interviewees thought the most underused buzzword was. For this, the topic of AI came up again but this time with some interesting thoughts about the nuances of the topic.

There’s some interesting points here about what AI will look like in a longer time frame, as opposed to simply what it’s role is right now.

Some people mention compliance too. That’s a topic that has never been more prescient, with ever changing and evolving regulations on the horizon. As the likes of ISO 20022 become standardised in the payments space, compliance will be essential. So, as we’re sure our delegates would attest to, this isn’t something to ignore until the last moment.

To find out what else is underrated, tune into our latest 60 second clip from Fintech Meetup in Las Vegas to find out what these fintech thinkers are saying.