Only 13% of banks redesign workflows fully when adopting AI, Citi redesigning 100 processes

According to a survey by American Banker's Market Intelligence team, only 13% of banking professionals report that their institutions frequently redesign workflows end to end when adopting artificial intelligence (AI).

Citi is redesigning 100 processes, highlighting a notable effort in process changes.

The survey also found that even top executives from major banks like JPMorgan and Bank of America have differing views on AI's impact on the industry, with varied methods to measure AI returns on investment.

The adoption of digital assets and the technology enabling consumers to transact with them at all times will have far-reaching effects on how financial services are delivered, many of which we can't yet imagine.

Industry discussions are ongoing about strategies to ease the transition to AI, with some banks using pre-AI baselines to better quantify AI's return on investment, as reported by American Banker.