proprietary AI

M&T Bank is aggressively integrating AI, deploying AI copilots to over 15,000 employees to boost efficiency and customer service across operations, development, and risk management. The bank has built a strong technology and data foundation since 2018, significantly reducing outages and increasing system upgrades. AI applications range from content generation and summarization to identifying customer needs and flagging portfolio risks, mirroring industry-wide adoption of AI in finance. M&T emphasizes human oversight and data governance in its AI strategy.

Palantir CEO Alex Karp criticizes the “token model” used by AI labs like OpenAI and Anthropic, deeming it unsustainable and inefficient for businesses due to escalating operational costs. He advocates for open-weight models and proprietary AI development for greater control and ROI. Karp also expresses concern over China’s rapid AI advancements. Palantir’s partnership with Nvidia to develop custom AI for U.S. agencies highlights this strategic shift.