FOA’s Rapid Growth in AI
Chief Information Officer Brian Conneen of FOA stated, “That’s one of the areas we’re growing the fastest — the most open heads I have is in that area, because that’s the area that is the most dynamic and changing right now.”
Conneen, a seasoned fintech leader with experience at Best Egg and Oracle, emphasized the significant impact of the current AI cycle. He mentioned, “It’s hard to find talent,” acknowledging the competition for skilled individuals in the industry.
However, Conneen highlighted the importance of the mission behind the business in attracting talent. He stated, “Our story resonates. We can serve a real need.”
Bill Packer, COO at Longbridge Financial, echoed the sentiment about the fierce competition for AI talent. He emphasized Longbridge’s mission-driven approach and exciting projects in AI development, which have led to a 25% growth in their tech team in the past six months.
FOA and Longbridge’s Approach to Technology Development
FOA leans towards building tech in-house for differentiation and partnering with vendors for standard solutions. Conneen mentioned, “Things like our digital acquisition, we are building that ourselves in-house, using our talented team.”
On the other hand, Longbridge has traditionally relied on partnerships for AI development but is now shifting towards internal talent acquisition. The recent hiring of Azita Guzzo as head of technology innovation signifies Longbridge’s move towards more self-service AI development.