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In an era where artificial intelligence is rapidly reshaping industries, it’s easy to assume that machines alone will define the future. But according to Rakefet Russak-Aminoachāformer CEO of Bank Leumi and current managing partner at venture firm Team8āthe real differentiator isnāt tech. Itās people. Speaking at the Tech1 Conference in Eilat, Russak-Aminoach emphasized that while AI can revolutionize banking and startups alike, success still hinges on human adaptability, mindset, and resilience.
A New Chapter in Banking and Innovation
Rakefet
Her vision was clear: the future of banking lies in digital, but shifting organizational mindsets proved harder than introducing the technology itself. Convincing staff, customers, and regulators took seven years of persistent work. Now, with AI pushing the boundaries even further, she warns that while the tools have evolved, the real challenge remainsāpeopleās readiness to embrace change.
When asked how she would lead a bank in the AI age, she was blunt: āYou can rebuild the entire traditional banking structure with AI, but the friction will come from people, not the technology.ā For Russak-Aminoach, true transformation is psychological, not just operational.
As a venture capitalist, she advises founders to prepare for a rugged road ahead. āEntrepreneurship is never easy. Everyone I know who succeeded faced major hurdles. Bravery and optimism are not optionalātheyāre essential,ā she said. Her experiences at Team8 offer proof of Israelās resilience. From eToro going public to the sale of Next Insurance, Israeli innovation continues to thrive despite a volatile geopolitical and financial environment.
She credits this tenacity to Israeli culture. āOur upbringing, military service, and constant exposure to conflict make us more daring and mentally strong. We donāt shy away from challengesāwe lean into them with chutzpah.ā Itās this mindset, she believes, that sets Israeli tech apart globally.
What Undercode Say:
Rakefet Russak-Aminoachās insights cut through the hype and go straight to the heart of what really drives innovation: human adaptability. At a time when AI is generating more buzz than ever, she reminds us that even the smartest technology needs buy-in from people to succeed. Thatās a critical message for founders, technologists, and investors alike.
From a hacker and technology bloggerās lens, hereās our analysis:
1. Tech is ready. Are people?
The acceleration of AI across fintech and enterprise solutions isnāt slowing down. But Russak-Aminoach rightly points out the adoption bottleneckāpeople. Whether itās bank employees adapting to AI tools or customers learning new digital habits, cultural inertia is the true challenge.
2. Leadership in transformation matters.
Her seven-year crusade to digitize Bank Leumi shows that tech revolutions need relentless leadership. Without visionaries who push through resistance, even the best tech wonāt scale.
3. Startups need grit, not just genius.
She puts emotional endurance and optimism on the same pedestal as innovation. Thatās a huge lesson for early-stage founders who often get blinded by product-building while underestimating the mental rollercoaster of startup life.
4. Israelās unique advantage: built-in resilience.
Israelās āStartup Nationā title isnāt just about high IQs or elite military tech units. Itās about a cultural mindset that embraces risk and refuses to break under pressure. This deeply embedded resilience, forged in national challenges, has global implications for how other regions might cultivate innovation-friendly environments.
5. AI isnāt magicāitās a multiplier.
The core takeaway is that AI canāt magically fix broken systems or lead transformations on its own. It can multiply efficiency and opportunity, but only if the humans behind it are ready to rethink, relearn, and reinvent.
ā Fact Checker Results:
š§ True: Bank Leumiās digital pivot under Russak-Aminoach is well-documented and praised across the industry.
š” Accurate: Team8 has indeed played a major role in recent fintech and insurtech successes like eToro and Next Insurance.
š®š± Confirmed: Israelās cultural and military background plays a key role in its innovation landscape, supported by multiple economic and academic studies.
š® Prediction:
As AI continues to integrate deeper into financial services, we predict a growing demand for leaders who can bridge the gap between cutting-edge tools and traditional teams. The winning formula wonāt be just who builds the smartest techābut who builds the most adaptable organizations. In regions without Israelās built-in resilience, startups and banks will need to invest heavily in mindset training and change management. Those who fail to prepare for the human side of transformation may find themselves outpacedāby both tech and time.
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Reported By: calcalistechcom_a0f6c0a911746761d57cf1f8
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