The new digital technologies (and in particular artificial intelligence, AI) enable many new services that disrupt existing business models. The new business models in turn present new privacy issues and ethical dilemmas, and societal resistance to the excesses of the new data economy is becoming increasingly visible and urgent. It is a challenge for established financial institutions to both drastically innovate in order to remain future-proof and at the same time take social responsibility. What are the differences between the old and the new world? What are the new ethical dilemmas and how do you prevent making the same mistakes as Big Tech? Why does innovation fail so often within the existing structures of established companies? If innovation is better achieved in small and agile teams, how does this fit into the command and control structure of compliance-driven organizations, such as financial institutions? And why does the 3 lines of defence model for risk management insisted on by supervisory authorities has an inhibitory effect on innovation in practice? We will discuss how to navigate the new world and to deploy AI for the Good.