Skin In The Game: Why Banks Are Taking Stakes In AI Labs
US-based financial-services AI startup Rogo raised $30 million this month, with investments from major banks like Barclays and Citi, totaling nearly $20 trillion in assets. This trend of banks investing in AI firms has surged at a 21% annual rate since 2023, indicating a shift towards deeper collaborations. The future of this model in banking remains uncertain.