article thumbnail

How Competition Is Driving AI’s Rapid Adoption

Harvard Business

Amazon, born 24 years ago, had captured about 45% of online retail commerce in the United States by 2017, but still stood for just about 5% of total US retail gross merchandise volume in that year. About half of those will do so in half the time, and may more than double their operating cash flows by 2030.

article thumbnail

How Banks Can Compete Against an Army of Fintech Startups

Harvard Business

It’s been more than 25 years since Bill Gates dismissed retail banks as “dinosaurs,” but the statement may be as true today as it was then. Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet. Other sectors of retail lending have not fared much better.

Banking 32