AI has the potential to revolutionize banks
To understand how AI will usher in a new era of smart banking and create an intelligent bank, KPMG conducted an extensive research program, interviewing executive leaders across eight key global markets. This research outlines a comprehensive blueprint for AI in banking, helping banks chart a path toward unlocking AI’s immense value.
At-a-glance insights:
The banking sector is widely investing in AI, although the majority are only investing moderately
82% report a moderate-high allocation of their global technology budget to AI initiatives
Most Belgian banks are not early adopters of AI. This is not unusual—our study shows that globally, 71% of banks believe it is wise to wait for greater clarity in the evolving AI landscape before making significant investments. However, even with a wait-and-see approach, they should begin today by building a strong foundation in strategy, governance, data, infrastructure, and skills. Otherwise, they risk being left behind once the market gains clarity on AI applications, technology, and regulation.
Leadership goals for AI adoption focus heavily on operational gains rather than strategic value
How to realize value from your AI transformation journey
To address these challenges, KPMG introduces the three phases of AI value — a framework designed to guide banks through the AI adoption journey. This phased approach provides a structured roadmap, helping banks prioritize investments, align initiatives with business goals, and position themselves effectively in the age of AI in banking.
Enable
The Enable phase focuses on enabling people and building AI foundations. Organizations appoint a responsible executive, create an AI strategy, identify high-value use cases, boost AI literacy, align with regulations and establish ethical guardrails. AI pilots are launched across functions, while cloud platforms and pre-trained models are leveraged with minimal customization.
Embed
The Embed phase integrates AI into workflows, products, services, value streams, robotics, and wearables, delivering greater value. A senior leader drives enterprise-wide workforce redesign, re-skilling and change, embedding AI into operating models with a focus on ethics, trust and security. AI agents and diverse models are deployed, supported by cloud and legacy tech modernization, while enterprise-wide data enhances operations.
Evolve
The Evolve phase evolves business models and ecosystems, using AI and frontier technologies like quantum computing and blockchain to solve large sector-wide challenges. AI orchestrates seamless value across enterprises and partners. Emphasizing ethics and trust with real-time security, this phase uplifts human potential with broad and deep workforce training, fostering a creative, innovative and value-driven future.
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