BOSTON–While nearly all banks have made investments in AI technology, fewer than one-in-four have progressed from pilots and proof of concepts to fully implement the technology into their daily operations, according to Boston Consulting Group.

“The leap from predictive analytics to generative AI—and now to fully autonomous, agentic systems—is here,” a new BCG report states. “AI is no longer a fringe experiment; it’s the engine of next-generation banking. Customer interactions, loan approvals, fraud detection, even compliance monitoring: all are ripe for reinvention.”

The Boston Consulting Group survey found just 25% of financial institutions have “woven these capabilities into their strategic playbook. The other 75% remain stuck in siloed pilots and proofs of concept, risking irrelevance as digital-first competitors accelerate ahead. Most banks are deploying AI toward basic activities—not those that lead to transformation.” 

Moving Beyond Pilots

The organization said financial institutions must move beyond pilots to redefine strategy, technology and governance – or “risk losing control of the financial landscape to faster movers.”

“Early movers will set the pace—and the terms—of AI competition,” the report advises. “Lagging banks will find themselves racing to catch up under conditions they didn’t choose.”