Download an excerpt of the report -or- if you are already a member of Evident, log-in to read the full report.
The 50 banks tracked in the Evident AI Index published over 1,250 references to “AI” across annual reports, press releases, and company LinkedIn posts over the past year, a 59% increase relative to the previous year. 35 banks referenced AI across all three channels (up from 26 banks a year ago). Both AI mentions and the substance of what banks are doing is increasing.
Banks in the UK witnessed the greatest surge in AI “volume” over the past year. On average, UK banks nearly tripled (+193%) the number of references to AI across their key communications channels.
If the noise is building, but without an increase in the specificity around use cases, ROI, and tangible information about what the bank is doing to scale AI, then it’s just empty calories. Last year, only 6 of 50 Index banks identified AI as a strategic priority in investor relations materials, and clearly described specific use cases in production alongside their ROI. This year, this number increased 2.5x to 15 banks.
These banks demonstrate a combination of “volume” and “substance” of their AI communications. NAB, Barclays, and Citigroup are the “banks to watch”—rapidly increasing the extent of AI content found within their annual reports, press releases, and company LinkedIn posts
30 out of the 50 banks we track now feature multiple C-level leaders (CEO, CDO, CTO, COO, CIO, or CAO) speaking about AI in external media channels, a reflection of the growing focus on AI shared across the entire leadership team. 51 of 94 C-level leaders we track are now engaging with the press on specific AI initiatives underway at the bank, extending the “substance” found on direct comms channels to external media partners.
Only a quarter of the most “influential” voices found on external media channels are CEOs and only 17 of 50 CEOs discuss AI-specific content publicly. This lack of clear and consistent communication from the top reduces the bank’s ability to mobilize a broad range of stakeholders, including: investors, employees, customers, partners, and prospective hires. Exemplar CEOs that demonstrably “get it” include: BNY’s Robin Vince, Citigroup’s Jane Fisher, JPMorgan Chase’s Jamie Dimon, HSBC’s Noel Quinn, and Standard Chartered’s Bill Winters.
Goldman Sachs, UBS, and JPMorgan Chase are the only three banks that achieve outsized “influence” across both external media channels, as well as engagement with AI content found on LinkedIn—largely through the impact of their C-level leaders.
While 41 of 50 banks now have evidence of an AI leader serving on the Executive Committee, up from 38 last year, we’ve seen limited structural changes to the composition of these teams. This is significant in itself, as it suggests AI responsibilities are getting embedded and diffused across the existing team (versus delegated to a newly minted role).
