European Banks Pin Hopes on AI for Future Growth
A new study by Visa Consulting and Analytics reveals that European banks believe AI will fundamentally reshape retail banking by 2030. The research, based on responses from 325 senior decision-makers across 17 European markets, found that 86% of European bank leaders expect AI to significantly impact the industry.
While some banks are using AI to optimize their current operations, a growing divide is emerging between those embedding it into decisions that drive future growth and customer outcomes. The study identified four distinct approaches to AI adoption: Efficiency Seekers, Trust Builders, Competitor Chasers, and Compliance Keepers.
The research highlighted the importance of execution in achieving transformational gains from AI adoption. Banks that are embedding AI into live decision flows, scaling it across functions, and holding themselves to clear performance metrics are more likely to achieve sustained impact.