Only 6% of retail banks have built an enterprise roadmap to drive AI-driven transformation at scale - Seite 2

Focusing on intelligent solutions, that are embedded with AI-driven capabilities, will allow banks to navigate ongoing structural challenges, ultimately ensuring sustainable growth. However, success must be measurable: among those surveyed, just 6% of banks have established key performance indicators (KPIs) to measure AI impact and continuous monitoring. More than 60% of banks are still identifying and developing KPIs, while 26% of banks that have already setup some KPIs are not measuring them.

According to the report banks risk succumbing to “generative AI silent failure” due to the delayed realization of suboptimal results and outcomes from their experiments with the technology. For instance, just 2% of executives indicate they are regularly tracking the business impact KPIs of their generative AI performance. In addition, 39% of executives express dissatisfaction with the outcomes of their AI use cases further reinforcing this disconnect. To combat this, the study suggests banks set up an AI observatory to track, monitor, and report AI and generative AI real impact, when implemented at scale.

“One year after generative AI cemented itself as a core boardroom conversation, we’re seeing how banks risk becoming technological laggards if they aren’t rapidly adopting solutions and preparing to take advantage of its capabilities,” said Nilesh Vaidya, Global Industry Head of Retail Banking and Wealth Management at Capgemini. “Generative AI can have a lighthouse effect when used responsibly and wisely across operations. There is also a need for increased efforts on making gen AI explainable and appropriately transparent. The time to act is now to establish practices that build much-needed trust and customer intimacy. Success will come down to developing a roadmap that balances hype with a pragmatic, traceable and measurable approach.”

Bank employees welcome generative AI copilots
Generative AI holds massive potential to elevate efficiency and customer experience across the retail banking value chain. Over two-in-three (70%) bank employees are focused on operational activities, rising to 91% for those employees on customer onboarding teams, leaving little time for customer interactions. Over 80% of bank employees give a “moderate” rating to the effectiveness of automation across their functions (onboarding, lending, marketing, contact center), identifying a significant gap between the bank’s aspirations and reality.