Why is realizing the cognitive corporate bank possible now? After decades of work in academia and labs, significant AI breakthroughs have been achieved during the course of this decade. AI in banking has been steadily moving from lab experiments to proofs of concept and scaled implementations. Banks’ broad initiatives to modernize their data infrastructure, enhance data analytics, and digitize customer journeys have been important to the realization of AI’s potential in corporate banking. Today, AI is solving the toughest of the digitization challenges and enabling banks to boldly reimagine customer engagement.

In our latest Celent report on AI in Action, we showcase five banks which are making the equivalent of moon landings in AI. These AI astronauts share three traits: farsightedness, boldness, and focus. They are farsighted in their motivation and planning. They are bold in that their initiatives require breaking from traditional paradigms and constraints. Whether the initiative is enterprisewide or specific, they are focused on clear and measurable goals.