David Cooper (host)

I'm happy to be here.

So, I mean, the idea that I'm no longer in control of my money and some large language model makes financial decisions for me is kind of scary.

I think a lot of people don't know what's going on with their cash.

How does AI enter the conversation with people's relationships with money these days?

Which is cool, but companies getting the complete register of every transaction I do and when, that's a huge value to companies to figure out how to advertise, how to market, how to suggest a loan to me.

And what's stopping companies from just like analyzing that data and knowing things about me and trying to get me to spend or offer me loans that I can barely afford or things like this?

You're absolutely correct.

That's how every big tech company starts.

They tell a story about, quote unquote, empowering customers, delighting their customers.

But then years later, the products aren't great and our privacy is gone.

Exactly.

And these companies, you're now like a product.

Your financial information is now a product that they could potentially sell.

Maybe in the EU, there's better regulation.

I doubt there's good regulation for this year where I live in the US, maybe marginally better in Canada.

What do companies do with this aggregate financial data, like this consumer financial data?

What about like AI driven credit reporting?

Like here in North America, there's these credit bureaus, but they kind of operate on an antiquated system.

They don't have that much data.

It's like whether you paid your loans, how many credit lookups there was, the age of your accounts.