Mentions of artificial intelligence increased by a CAGR of 14% in the retail banking industry since 2020

The global retail banking industry experienced a 14% rise in compound annual growth rate (CAGR) in company filings mentions of artificial intelligence since 2020. Key companies in terms of mentions include BPER Banca, Sberbank Rossii, and Intesa Sanpaolo, according to GlobalData’s analysis of over 3,500 retail banking company filings.

Notably, since 2020, artificial intelligence was the most referenced theme in terms of mentions, ahead of big data, cybersecurity and cloud, according to GlobalData's Company Filings database. Mentions related to artificial intelligence increased by 11% year-on-year in 2021 and by 16% year-on-year in 2022.

Of the 50 leading companies in the retail banking industry, Banca Sistema had the highest year-on-year increase in references to artificial intelligence in 2022. GlobalData identified 122 artificial intelligence related sentences in the company's filings in 2022, 3% of all sentences. Meanwhile, Industrial Bank of Korea had the highest year-on-year increase in references for artificial intelligence in 2021. GlobalData identified 56 artificial intelligence related sentences in the company's filings in 2021, 1% of all sentences.

GlobalData’s Company Filings Analytics also applies a sentiment weight to reference sentences, based on how positive the sentiment has turned. Sentiment score is based on the level of positivity on a scale of 0 to 1. The average sentiment score for artificial intelligence in 2022 was 0.89, which was more positive compared to the average industry sentiment of 0.82.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

Global Data’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.