Banks embracing generative AI, increasing use cases, focusing on productivity before transformation.

From Yahoo Finance.: 2025-06-10 12:07:00

The banking industry cautiously embraces generative AI, with 50 major banks announcing 266 use cases, up from 167 in February. 75% of cases are internal, but the shift towards customer-facing features is expected as models mature. Executives emphasize the importance of starting with productivity before moving to transformation.

Banking executives predict that generative AI will handle up to 40% of daily tasks by year-end. Nearly 3 in 5 U.S. bank executives view AI as crucial to long-term innovation. NatWest Group is reimagining customer experiences with AI, while AI assistants and deployments expand across the industry.

Generative AI’s impact on banking is widespread, from managing data to assisting with legacy applications. NatWest leverages deployment pathways, pushing AI into non-technical functions. Truist focuses on extracting knowledge, emphasizing low risk and high reward use cases to communicate value and sustain momentum. IT executives are finding success with early wins in technology projects, providing them with the opportunity to experiment further. Kapireddy advises against aiming for perfection, as it can hinder progress. It is important to communicate with business stakeholders about the impact of investing in technology.

Read more: How 3 banks are capitalizing on AI