A report by AI benchmarking platform Evident highlights how AI can significantly transform around 100 banking processes in five key areas: income uplift, efficiency gains/cost reduction, risk reduction/avoidance, customer satisfaction, and staff satisfaction. Leading banks are actively identifying AI use cases and building internal structures to support widespread AI adoption, focusing on achieving high returns on investment. The report, based on discussions with senior executives from 30 major banks and an analysis of public communications regarding AI use cases from 50 banks, points out that several banks are publicly disclosing the total number of AI use cases in production along with their return on investment, indicating growing AI maturity. Société Générale has 340 data and AI use cases in production with an expected value creation of EUR 500 million, while DBS Bank has achieved a revenue increase of over USD 100 million through its 300 AI and machine learning projects. BNP Paribas has rolled out over 700 use cases with a goal of creating EUR 500 million in value by 2025, and JPMorgan Chase has over 300 use cases in production with an overall target of delivering USD 1 billion in business value through AI. Evident Co-founder and Co-CEO Annabel Ayles emphasizes the importance of identifying the right AI use cases to deliver the best outcomes and establish processes for scaling AI adoption.
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