There are definitely various exceptions. E.g., high frequency trading was the result of a technology arms race that was quite ahead of its time. (Maybe one day

There are definitely various exceptions. E.g., high frequency trading was the result of a technology arms race that was quite ahead of its time. (Maybe one day adtech will be also limited by the speed of light [1] :-) Also proprietary trading was quick to link to social media and mine "sentiment". But in core financial services (payments, savings and loans), covered by buzzwords like "fintech" or neobanks there has not been much qualitative change. See also the failure of much hyped "innovation" in the form of the various blockchain projects (which pressumably will now be followed by various "AI" projects). Trying to belatedly join the latest hype instigated by others is precisely the behavior of a sector that does not understand and own its information technology. [1] https://www.nature.com/articles/518161a https://www.nature.com/articles/518161a