The Innovation Puzzle: Historical Context and the Capital Shaping Tomorrow's Disruptors
Wed Jan 21 2026
In this episode of the Citi Institute podcast, host Alex Miller is joined by Arvind Purushotham, Head of Citi Ventures, and Professor Carl-Benedikt Frey, DSF Associate Professor of AI & Work and Oxford Martin Citi Fellow.
Together, they explore the profound impact of AI and disruptive innovation on societies, economies, and institutions—and why imagination and human creativity remain essential drivers of progress, even as technology accelerates.
Arvind Purushotham explains how Citi identifies and invests in startups to bring innovative technologies into financial services, highlighting the critical role of trust and adoption in scaling AI and frontier technologies.
Professor Carl-Benedikt Frey discusses the distinction between exploration and exploitation in innovation, and why different institutions are better suited to each.
Together, they reflect on why disruptive innovation is rarely instantaneous, but instead unfolds gradually over time.
Explore the podcast: https://www.youtube.com/playlist?list=PL7807xkyz4XT6uWcwk9yI5IIF6UaFbubO
Citi Institute: https://www.citigroup.com/global/insights/citi-institute
Stay informed with timely perspectives on the trends reshaping industries and markets. Subscribe to the Citi Institute Newsletter here: https://www.citigroup.com/global/insights/citi-institute#newsletter
Citigroup, (Citi), and Oxford Martin School are not affiliated and are independent from each other. The speakers’ views are their own and may not necessarily reflect the views of Citi or any of its affiliates.
All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.
The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.
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In this episode of the Citi Institute podcast, host Alex Miller is joined by Arvind Purushotham, Head of Citi Ventures, and Professor Carl-Benedikt Frey, DSF Associate Professor of AI & Work and Oxford Martin Citi Fellow. Together, they explore the profound impact of AI and disruptive innovation on societies, economies, and institutions—and why imagination and human creativity remain essential drivers of progress, even as technology accelerates. Arvind Purushotham explains how Citi identifies and invests in startups to bring innovative technologies into financial services, highlighting the critical role of trust and adoption in scaling AI and frontier technologies. Professor Carl-Benedikt Frey discusses the distinction between exploration and exploitation in innovation, and why different institutions are better suited to each. Together, they reflect on why disruptive innovation is rarely instantaneous, but instead unfolds gradually over time. Explore the podcast: https://www.youtube.com/playlist?list=PL7807xkyz4XT6uWcwk9yI5IIF6UaFbubO Citi Institute: https://www.citigroup.com/global/insights/citi-institute Stay informed with timely perspectives on the trends reshaping industries and markets. Subscribe to the Citi Institute Newsletter here: https://www.citigroup.com/global/insights/citi-institute#newsletter Citigroup, (Citi), and Oxford Martin School are not affiliated and are independent from each other. The speakers’ views are their own and may not necessarily reflect the views of Citi or any of its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.