JPMorganChase tops AI Index as banks boost investment returns

JPMorganChase has been ranked as the most AI-advanced bank in the latest Evident AI Index, with the findings indicating a significant acceleration in artificial intelligence adoption among the world's largest banking institutions.

The Index, published annually by Evident, assessed 50 major banks across North America, Europe, and Asia Pacific, using over 70 indicators derived from millions of public data points. This year's analysis found that the ten banks with the highest AI maturity are progressing at more than twice the rate of their counterparts, attributing the surge to early investments in AI that are increasingly delivering measurable business value.

The leading banks, as determined by the Index, are: JPMorganChase, Capital One, Royal Bank of Canada, CommBank, Morgan Stanley, Wells Fargo, UBS, HSBC, Goldman Sachs, and Bank of America. Notably, the entry of Goldman Sachs and Bank of America into the top 10 reflects an increasingly competitive US banking landscape, with American banks now accounting for six of the ten leading positions.

Six US banks now feature in the top 10 (up from five in 2024), reflecting a long-term, top-down investment in AI since at least 2010 - and the compounding benefits from that head start. Representing less than a third of the 50 banks in the Index, the US cohort accounts for 44% of AI talent, 67% of AI research, 89% of AI patents, and 46% of AI-related ventures activity.

JPMorganChase, Capital One, and Royal Bank of Canada maintained their top three rankings for the third year in a row. The report highlights how JPMorganChase leads in the Innovation, Leadership, and Transparency pillars, while Capital One is currently at the forefront in Talent, bolstered partly by its recent merger with Discover and a doubling of its AI research team.

Morgan Stanley made significant progress, moving up to fifth place in the Index, driven by organisation-wide AI rollouts and new partnerships, including with Columbia University. There was also upward mobility for Bank of America, which jumped five places, accompanied by increased emphasis on both consumer and employee-facing AI applications such as its chatbot, Erica.

Investment and returns

The analysis notes that the top banks are beginning to realise increasing returns on their AI investments. The Index found that eight banks now disclose group-level return on investment (ROI) estimates, with BNP Paribas, DBS, and JPMorganChase each reporting both realised and projected ROI at scale.

JPMorganChase has revised its AI-driven benefits projection from USD $1 billion to what President and COO Daniel Pinto described as "heading more towards USD $2 billion". This development shows a tangible shift towards quantifiable outcomes in banking AI deployment.

Bifurcation in AI maturity

Alexandra Mousavizadeh, Co-founder and CEO of Evident, commented, "Banking is one of the most advanced and competitive industries on the planet when it comes to developing and rolling out AI at scale. While some have described recent history as 'The Summer AI Turned Ugly', in the banking industry a different story is playing out. We're beginning to see clear signs that AI investment is starting to translate into tangible financial gains, both in terms of efficiency and, increasingly, via new revenue opportunities. Banks and their shareholders expect ROI to accelerate over the next few years, and those in our top 10 are in pole position to see their efforts come to fruition."

Six US banks now feature in the top 10 (up from five in 2024), reflecting a long-term, top-down investment in AI since at least 2010 - and the compounding benefits from that head start. Representing less than a third of the 50 banks in the Index, the US cohort accounts for 44% of AI talent, 67% of AI research, 89% of AI patents, and 46% of AI-related ventures activity.

Mousavizadeh continued, "Bifurcation in AI maturity creates a credibility gap. Banks that fail to keep pace risk losing the confidence of boards, regulators, and investors. At the same time, lagging institutions will struggle to attract and retain top-tier AI talent. This combination of stakeholder doubt and the risk of talent flight slows deployment, undermines momentum, and compounds the difficulty of turning AI investments into measurable business outcomes."

Use cases and talent

According to Evident, there has been a marked rise in banks deploying AI in practice. The number of banks reporting active AI use cases has increased from 12 to 25 in the past year, with 32 out of 50 now disclosing at least one use case with associated impact. This is accompanied by a rapid expansion in AI talent hiring; the ten banks with the largest AI workforces now account for almost half of all such professionals in the Index, approximately 90,000 employees.

The report also states that the AI talent pool grew by 25% year-on-year-the fastest growth on record and nearly five times the rate of overall headcount expansion. Thirty-eight banks now publicly disclose some form of AI training for employees, up from 32 last year, and 33 banks have targeted programmes for senior leadership development in AI.

Four pillars of maturity

The Index evaluates banks based on four capability areas signalling AI maturity: Talent, Innovation, Leadership, and Transparency. The top 10 institutions lead at least one of the pillars, and AI-driven partnerships, Responsible AI (RAI) activities, and external transparency have all intensified across the sector.

JPMorganChase topped the table for both Innovation and Transparency, while UK banks occupy four of the top 10 spots for Transparency, underscoring the UK's drive in RAI. Collaboration between banks and academic, governmental, or private sector partners rose, with almost 80% of reported partnerships delivering tangible case studies or use cases.

Expectations for the future

"We're already seeing these investments translate into tangible examples of use cases deployment. And our discussions with banking leaders suggest they're expecting to see material, reportable AI returns in the next 12-18 months. Our data strongly suggests that this achievement is imminent. The question is: how big will the returns be? If they exceed expectations, current AI investment levels could pale in comparison to what comes next," said Annabel Ayles, Co-founder and Co-CEO of Evident.

The Evident AI Index concludes that as more banks progress in AI maturity, those failing to adapt risk falling behind both in financial performance and credibility with stakeholders as the adoption of AI continues to intensify globally within the banking industry.