AI is reshaping banking as banks shift from being reactive to proactively serving customer needs. AI will improve banking experiences by automating manual processes that plague the sector, helping customers make smarter financial decisions and reducing their cognitive load. However, there’s a significant gap between banks’ intentions and reality. To make the most of the opportunities that AI enables, banks must strengthen the foundation for AI initiatives, such as correct ownership, sufficient knowledge and skills, data governance fundamentals, and proper use case selection.