For this issue, FinScale has ranked the top 7 banks and 8 insurers by their intensity of AI adoption. The list blends disclosed spend, enterprise-wide rollouts, and measurable impact. The result isn’t just who’s spending the most, but who’s turning dollars into productivity and trust at scale.
Top 7 Banks — AI Leaders
1. JPMorgan Chase
Tech budget: ~$17–18B; hundreds of AI use cases live.
Reported $1–1.5B+ in productivity and efficiency gains from AI.
Major domains: asset management (Coach AI), trading, fraud prevention, software engineering copilots.
2. Bank of America
2025 tech budget ~$13B, with ~$4B earmarked for AI.
Tools: “ask MERRILL,” “ask PRIVATE BANK,” internal copilots.
Erica expanded into an employee-facing productivity engine.
3. Goldman Sachs
“GS AI Assistant” rolling out firmwide to 10k+ employees.
Use cases: document summarization, drafting, data analysis.
Engineering copilots in production with GitHub and Gemini tools.
4. Morgan Stanley
Pioneer in advisor-assistants powered by OpenAI.
Expanding into meetings, client support, and compliant workflows.
Strong early mover advantage in wealth management AI.
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This insight was originally published in the first issue of FinScale Magazine by TrialScale. Download the magazine to keep reading.