How European banks are catching up on AI

US and Canadian banks may have had a head start in generative AI, but some European banks are trying to close the gap. Those in charge of harnessing the technology at big banks in Europe say they are gaining confidence in its use: adapting marketing shots to certain client profiles, helping sales managers to sift through product policies and much more.

European banks have beaten many of their US counterparts on profitability during the past two years, riding the higher interest-rate wave. But when it comes to adopting artificial intelligence (AI) – the megatrend emerging over the same period since the release of ChatGPT in 2022 – European banks fall behind once again.

Speaking to Euromoney, leaders responsible for deploying AI in European banks agree that US banks have gained a head start. The lag shows in the latest Evident AI Index of AI adoption across 50 of the largest banks globally, published on Thursday.

How European banks are catching up on AI

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How European banks are catching up on AI

Thanks for your interest in Euromoney!To unlock this article:

Regulators should be upfront with taxpayers – and admit all deposits are guaranteed

The Danish Compromise tests Europe’s appetite for regulatory easing

What can US bankers really expect from Trump’s deregulation impetus?

Prem Natarajan on Capital One’s AI stairway to heaven

Thanks for your interest in Euromoney!
To unlock this article: