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Banks Ramp up Digital Assistants in Bid to Win Productivity Race
Banks are piloting agents for wealth, trading and treasury as 51% of lenders tested AI agents, a KPMG survey found.
- Major banks are increasingly incorporating digital assistants into daily operations to boost productivity, with a June KPMG survey showing 51 per cent of banks were piloting AI agents.
- Bhavi Mehta, global lead for advanced analytics in financial services at Bain & Company, said "Banks are increasingly using agentic AI and figuring out more ways to use it because it has a lot of potential."
- Richard James, head of AI product at UBS, stated "They gather all internal information from meetings, accounts and e-mail communications." BNY treats digital employees as teammates, while Morgan Stanley prepares to test client-facing assistants this summer.
- Human oversight remains critical, with Mehta noting banks remain "extremely cautious when it touches the customer" and require human involvement for all critical functions.
- Investors are demanding clear returns on technology expenditures; Peter Torrente, US sector leader for banking at KPMG, noted banks focus on areas where returns are evident and can be scaled up.
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Montana Standard+26 Reposted by 26 other sources
Banks ramp up digital assistants in bid to win productivity race
Major banks are increasingly adopting agentic AI, digital assistants that perform tasks with minimal supervision, to boost productivity across wealth management, trading, client vetting, and treasury functions.
Major banks accelerate adoption of autonomous agentic AI
Major banks are ramping up how they incorporate digital assistants in their daily operations, determining how such agents interact with human colleagues and clients as they race to get ahead. Banks are competing in the adoption of agentic AI – artificial intelligence that can accomplish tasks with minimal human supervision – in functions from wealth […]
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Total News Sources28
Leaning Left4Leaning Right2Center22Last UpdatedBias Distribution79% Center
Bias Distribution
- 79% of the sources are Center
79% Center
14%
C 79%
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