Forrester Expects 40% of Banks to Launch AI Assistants in 2027

Forrester expects 40% of banks to launch AI assistants in 2027, as the firm forecasts a broader shift in banking that includes changes to operating models and consolidation of financial technology platforms.

The firm’s Predictions 2027: Banking And Investing, dated Oct. 14, lists AI-native operating models, retail investment participation and platform consolidation among the forces expected to shape banking and investing. Principal Analyst Aurelie L’Hostis detailed three forecasts in an Oct. 22 post: bank launches of AI assistants, AI transformation programs and increased mergers and acquisitions in AI banking technology.

Forrester says banks will need proprietary data, decisioning capabilities and specialist expertise to distinguish their AI assistants. The launch forecast concerns customer-facing tools, while the transformation forecast concerns broader changes to banks’ operations.

The firm predicts one-third of banks will announce AI transformation programs and gives 5% as the success figure. Forrester also warns that some banks may relabel existing AI work without changing their operating models.

Forrester expects mergers and acquisitions in AI banking technology to rise 50% in 2027. It says buyers will seek scale, proprietary data, governance and orchestration capabilities. The forecast places platform consolidation alongside banks’ efforts to build AI capabilities.

L’Hostis said organizations that bring together data, decision systems and customer trust would be better positioned to support financial outcomes. “The winners will be the organizations that combine proprietary data, decisioning, orchestration, and trust to help customers achieve better financial outcomes.”