Banking in the Age of Generative AI (Accenture)

Summary

• 73% of the time spent by US bank employees has a high potential to be impacted by generative AI, 39% by automation and 34% by augmentation.p.2
• Early adopters can expect 22% to 30% productivity improvement, a 600 bps rise in revenue growth and a 300 bps increase in return on equity over three years.p.3
• Occupations representing 41% of banking employees are engaged in tasks with higher potential for automation.p.6
• 59% of banking employees are already using AI every day.p.8
• 82% of banks have a digital core score between 0.2 and 0.6, based on a global study of 240 banks.p.20
• Banking job postings for responsible AI roles grew from 1.1% of the total in 2019 to 8% in 2022.p.28

Key insights

1. Around 60% of the routine tasks of tellers could be supported by generative AI.p.6
2. 47% of executives across all industries list getting their data strategy right as one of their greatest challenges with generative AI.p.20
3. Approximately 35% of banks globally have migrated less than 5% of their workloads to the cloud.p.20
4. A leading European bank plans to expand its AI center of excellence into a 300-strong team over the next three years.p.17
5. An Asia-Pacific bank has deployed over 1,500 AI models, each built with responsible AI practices.p.30
6. BBVA cost-to-income has dropped to 43%, with nearly 50 million customers interacting through digital channels.p.33
7. The average share of RBI job postings in other industries lingered at 2.8% in 2022, below the banking sector.p.28