AI, and how Intelligent Banking will Power the Next Generation of SMBs - thoughts from the Mastercard Tech Hub, Manhattan

Why Focus on SMBs?

The answer is simple, and urgent. America’s 36 million small and mid-sized businesses are the backbone of the economy. They power communities, drive innovation, and provide livelihoods to millions.

But too many of them are buried under complexity. Instead of focusing on growth, they spend time stitching together systems, managing fragmented services, and navigating layers of administration. The very tools meant to support them often become obstacles.

At Pollinate, we are working to change that. In partnership with banks around the world, we’ve built a platform that simplifies operations, surfaces actionable data, and connects SMBs to the right financial services at the right time.

That’s why it was a privilege to join some of the leading voices advocating for small businesses. Hearing directly about the challenges SMBs face, and what we can do together to solve them, was both energizing and deeply important.

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A Place at the Table

A key theme throughout the discussion was that SMBs are still too often overlooked. Their voices can be drowned out by the priorities of larger corporations.

But do the interests of big business and small business always conflict?

Rachel offered powerful insights into how the NSBA works to ensure small business voices are heard in Washington. With government spending focused on sectors like defense and infrastructure, the regulatory and compliance barriers that arise often favor larger companies. These barriers can unintentionally lock SMBs out.

Chris pointed out that this imbalance extends beyond policy. In the world of technology and business services, many offerings are still designed with the largest merchants in mind. The result is a market where the needs of SMBs are often an afterthought.

The lack of reach and influence remains a critical barrier to success. But solutions are emerging.

The Dawn of a New Tech Era?

Another central theme of the panel was artificial intelligence and what it means for the future of small businesses.

At the heart of the conversation was a pressing question: Will AI level the playing field and help SMBs compete more effectively, or will it tilt the field even further in favor of big business? Will it democratize access to tools that once required scale, or will it deepen the gap between those who can afford to experiment and those who cannot?

For me, this is the crux of the conversation.

Platforms like Pollinate, along with a new generation of AI-powered tools, have the potential to expand reach, streamline operations, and free business owners from the complexity that weighs them down. By simplifying administration, surfacing insights, and integrating services, we can help entrepreneurs get back to what they set out to do: build their business.

It’s something I care deeply about. Every conversation I have with an SMB owner reinforces the urgency. While in New York, I spoke with a bakery owner who said, “I’m not a baker anymore. I’m a spreadsheet integrator who makes cupcakes on the side.” That shouldn’t be the norm.

Technology promises change. But it does not always deliver it fairly.

Alastair made a compelling point when he asked whether AI will succeed where the internet fell short. Tim Berners-Lee once said the internet failed to deliver the egalitarian economy he had hoped for. AI offers a second chance, but only if we’re intentional about not repeating the same mistakes.

Chris echoed that concern. He warned that just as a handful of tech giants came to dominate the internet era, there is a risk AI could follow a similar path—centralizing power and creating new barriers for the very businesses that need the most support.

Banking on the Future

Whether AI becomes a true equalizer remains to be seen. But what is clear right now is that technologies are emerging that can make business simpler and smarter.

Integration is key. The sheer number of tools, platforms, and services available today means that running a business often requires being a systems integrator, not just a founder or operator.

Banks have a unique role to play in solving this challenge. With platforms like Pollinate, banks can become the foundation upon which modern businesses are built and scaled. Together, we can shift the burden off the business owner and deliver the simplicity, intelligence, and connectivity that small and mid-sized businesses so desperately need.