Matt On Scripps Financial News | How AI Is Rewriting the Rules of Banking—and What It Means for the Next Generation
As artificial intelligence becomes more embedded in daily life, industries once thought to be immune to rapid disruption—like banking—are being transformed in real time. In a recent interview with Scripps News, Generation AI author and Suzy CEO Matt Britton broke down how AI is reshaping the financial landscape, why privacy concerns are rising, and what this means for Generation Alpha—the first generation to grow up in an AI-powered world.
This moment is more than a tech milestone. It’s a cultural inflection point. Let’s unpack what was covered—and what you need to know.
The AI Revolution Is Already at Your Bank
AI isn’t on its way to the financial world. It’s already here.
Modern banks and fintech platforms are deploying AI in ways most customers don’t even realize. Chatbots handle account inquiries. AI scans your creditworthiness. Algorithms predict fraud, personalize offers, and even help customers plan their financial futures.
As Britton put it in his interview with Scripps:
“Consumers are trading privacy for convenience. They’re uploading mortgage data, investment statements, bank history—all to get a smarter personal finance experience.
This trade-off is creating a new reality: financial institutions know more about us than ever before—and we’re letting them, because the tools are powerful, easy, and efficient.
Why Privacy Is the New Currency
The price of AI-powered convenience? Data. Lots of it.
From a consumer perspective, AI introduces new questions:
Who owns the data I provide to my bank’s AI?
How secure is it from breaches or misuse?
Can it be used to discriminate or exclude me from services?
According to Britton, these aren’t theoretical concerns. As more consumers feed sensitive personal and financial data into AI systems—either directly through apps or passively through their behavior—they’re creating a massive digital footprint. For Generation Alpha, that footprint starts before they can even read or write.
The challenge? Most people aren’t reading the terms. They’re not questioning how AI decisions are made. And they’re trusting invisible systems to make financial recommendations with potentially major implications.
Can AI Get It Wrong? Absolutely.
One of the most common misconceptions about AI is that it’s somehow immune to error or bias. But in reality, AI can make just as many bad decisions as a human—just faster.
Britton draws a direct comparison:
“Your wealth manager might recommend a stock because their daughter mentioned it at breakfast. That’s bias. AI systems can be just as biased—only they use historical data that might be flawed or discriminatory.”
This is particularly relevant when it comes to AI-based credit scoring, loan approvals, or investment strategies. If the underlying data contains biasracial, gender-based, or economic—the AI can reinforce those inequalities at scale.
What’s the solution?
According to Britton, it starts with education and self-advocacy. Consumers need to understand how AI tools work and cross-check the information they’re being given. He recommends tools like ChatGPT, Claude, or Perplexity AI as ways to get fast, accessible second opinions.
The End of the Bank Branch?
One of the most disruptive effects of AI is the decline of brick-and-mortar banking. Why drive to a branch when you can deposit a check via photo, speak to a chatbot 24/7, or apply for a loan in 5 minutes?
Britton calls this the “unwind of physical banking infrastructure.” And he’s right. The traditional bank—with its tellers, desks, and pens on chains—is quickly becoming obsolete.
In its place? Neobanks like Chime and SoFi, born in the mobile era and built without the burden of physical real estate. These AI-native platforms operate lean, pass savings onto consumers, and appeal to Gen Z and Gen Alpha by default.
It’s not just cost-efficiency driving the shift—it’s culture. Young consumers don’t want to go to the bank. They expect the bank to come to them—on their phone, through their AI assistant, whenever they need it.
Generation Alpha: AI-Native Financial Consumers
What makes this moment especially critical is the emergence of Generation Alpha—kids born from 2010 through 2025. This is the first generation being raised in a world where AI isn’t a novelty. It’s an assumption.
They will:
Never write a physical check.
Never call customer service and wait on hold.
Never step foot in a bank unless absolutely required.
Instead, they will ask their AI agent to manage their money, optimize their credit score, and maybe even choose their investments.
As Britton points out, the implications of this shift are profound. Financial education must evolve. Regulation must adapt. And brands must rethink what trust, transparency, and relevance look like in an AI-first economy.
The Future of Financial Jobs—and the Workforce at Large
So what happens to the people?
Bank tellers. Loan officers. Customer service agents. These jobs are already being phased out—or radically transformed—by automation. AI is reducing headcount, yes. But it’s also creating new types of roles: AI auditors, data ethicists, prompt engineers, and digital financial coaches.
Britton is clear-eyed about the transition:
“80% of the jobs that will exist in 2030 haven’t been invented yet.”
For today’s workforce, this means reskilling is no longer optional. For tomorrow’s (aka Generation Alpha), it means education systems must prepare kids to thrive in a world of co-bots—not co-workers.
Final Takeaways for Consumers, Parents, and Policymakers
The Scripps interview distilled a complex, fast-moving topic into a simple message: AI in finance is here—and we all need to catch up.
For Consumers:
Use AI, but question it.
Learn how your data is being used.
Don’t outsource judgment to a machine—augment it.
For Parents:
Teach your kids how AI works.
Emphasize critical thinking, not just financial literacy.
Remember: your child’s first financial advisor may be an algorithm.
For Policymakers:
Regulate transparency in AI financial decision-making.
Address algorithmic bias head-on.
Treat data privacy as a fundamental right, not a feature.
What’s Next?
As AI continues to shape the future of finance, Generation Alpha will grow up with new expectations—more personalization, less friction, and smarter tools. But that same future will demand greater responsibility from everyone: consumers, institutions, regulators, and educators.
AI isn’t just changing how we bank. It’s changing how we live, learn, and trust.
