S&P Global Ratings said banks' adoption of artificial intelligence will
increasingly influence credit ratings. In a June survey of about 179 global
financial institutions, users expect AI-related cost savings of up to 4%
this year and 6–8% by 2028. Roughly 84% already use AI for support functions and
automation, but fewer than one-third are using it to develop new products and
services, citing regulatory and reputational risks. S&P said credit outcomes
will hinge on the maturity of firms' AI strategies and the strength of their
governance frameworks.
