Why has every platform in “Gen AI for financial services” seemed to not meet expectations?

Why has every platform in “Gen AI for financial services” seemed to not meet expectations? 

This is the question I’ve been getting from investment professionals across the board who are having demo fatigue. As part of our market work, we’ve closely followed over 30 peer companies in the space and spoken to over 90 of their design partners and customers (+ our own customers). The sentiment is shared across all Gen AI products and their core features.

There are 3 reasons for the category’s underperformance vs. expectations, outlined below:

𝗖𝗼𝗺𝗽𝗹𝗲𝘅, 𝗩𝗮𝗿𝗶𝗲𝗱 𝗪𝗼𝗿𝗸𝗳𝗹𝗼𝘄𝘀

• The work is incredibly varied and changes week-to-week, making it difficult to distill into a single problem statement

• There is no singular “de-facto” burning problem in private equity / investment banking; there are already thousands of vendors trying to wedge their product into every nook and cranny