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Pioneering Intelligent Banking eBook

Embracing Artificial Intelligence Banks’ technology priorities in 2020–2022

Run pilots and prototypes Implement at scale
to Power Intelligent Digital Big data analytics 27%

62%
Transformation API integration 25% Enabling technologies

will witness increased
60%
investment
32%
Cloud
Customers are seeking emotional connections through personalized products and services, 56%
ubiquitous banking, superior 24/7 experience and support, and digital channels with a human Intelligent automation 26%
touch. Meanwhile, banks want to improve their shareholder value, optimize cost allocation, 62% AI technologies will
engage, retain and maximize customer value, and drive profitability. Artificial intelligence can AI and cognitive capabilities 41% witness higher traction
as adoption increases
help bridge the gap. The banking industry has absorbed this trend, as 85% of interviewed 47%
banking executives stated that AI and AI-powered automation will be their top tech priority in Source: Capgemini World Retail Banking Report Executive survey 2020, n=81
the next 24 months.
AI-powered transformation can elevate OX, CX, and risk management
AI-powered transformation can indeed elevate operational excellence, customer experience,
and risk management. According to Capgemini Research Institute’s State of AI survey, Cost optimization and Superior CX with new Mitigate financial and
more than 65% of executives claimed that they could achieve up to 25% cost savings and improved productivity sources of value creation operational risks
improvement in productivity, customer satisfaction, and risk management capabilities from AI Improvement in productivity due to Increase in NPS score Greater regulatory compliance
elimination of repetitive work
implementation.
Cost savings from optimized workforce Reduction in customer churn Reduction in false positives

Cost savings from process Decrease in customer complaints Decrease in number of security threats
improvements
It’s time for banks to transcend from digital banking to intelligent Reduction in facility and Increase in inbound leads
banking.” administrative costs

Reduction in IT costs Higher customer engagement

As banks realize the benefits of AI, they are starting to pilot AI use cases across the banking Reduction in customer acquisition costs Increase in sales of traditional products
value chain – with more than 60% deploying AI in specific areas such as workplace safety,
financial steering and reporting, and understanding customer needs. Banks are also using AI to Better productivity due to higher Increase in sales of new products
employee morale and retention
create new value sources and revamp IT systems and mid-and back-office processes. However,
AI maturity in the banking industry is in its early days and remains low when compared with Source: Capgemini Financial Services analysis, 2020 OX: Operational Excellence; CX: Customer Experience
other sectors such as retail, or life sciences.
Top areas where banks are piloting AI use cases

Financial steering and reporting 62%
Understand customer needs 60%
AI is making inroads in creating POCs; realizing the true potential Workplace safety 60%
remains a question.” Data monetization 55%
Improved hiring process 51%
Risk detection and prediction 46%
Optimize sales and marketing 43%
Personalized CX 42%
AI augmented products 42%

Source: Capgemini State of AI executive survey 2020, n=100

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