Summary

In this virtual roundtable, we dived into the latest data from Evident’s April 2024 Innovation Report to consider: How are major banks driving AI innovation? How are they thinking about the choices and trade-offs? And how are banks’ innovation strategies driving outcomes from AI?

We were delighted to be joined by leaders driving the innovation agenda at two of the world's largest banks to find out more about their innovation strategies and how they are driving outcomes from AI today.

A balanced innovation strategy is essential for successful AI adoption and is the reason why Innovation is one of the four pillars of the Evident AI Index, the global standard benchmark of AI maturity.

In our latest Innovation Report, we explore how banks are thinking about three key questions:

• Build: Do we have sufficient intellectual property to develop AI capability ourselves?
• Borrow: Who within our extended ecosystem of vendors and partners is best positioned to accelerate our efforts?
• Buy: Have we invested strategically in external products and services that we can leverage internally?

Banks appear to be taking different approaches. Many banks partner with AI vendors and academia. Some have gone one step further and either invested in - or acquired - AI companies. Others have established in-house AI research teams, or focused more heavily on AI patents.

Not having a strategy around AI innovation is a choice. But it's unlikely to be a wise one.

Watch the Roundtable

Speakers

Key slides