Imagine a world where Wall Street banks are unstoppable forces, leveraging artificial intelligence to increase profitability and transform their businesses. Recent years have seen big banks like Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo, and JPMorgan Chase ramp up their generative artificial intelligence efforts. They're striking deals and partnerships, hiring specialized talent, and creating new technologies to augment their staff, reduce operational costs, and boost productivity.

The game is still in its early innings, but the stakes are high. What if AI adoption increases banking profits by as much as $170 billion, or 9%, to more than $1.8 trillion by fiscal year 2028?

Morgan Stanley has launched two AI assistants for financial advisors, one of which uses OpenAI to provide quick answers to market and investment questions. Wells Fargo has its own virtual AI assistant, Fargo, which helps retail customers with banking queries and tasks.

As banks automate processes and reduce staff, will they be left with a workforce that's too reliant on technology? We're very much in the foothills of this, and we're going to see much more ROI generated off the AI use cases in 2025. But, I think you're going to see a real tipping point in 2026.

As AI adoption accelerates, will banks become more efficient, or will they struggle to adapt? Only time will tell. The stakes are high, and the game is on.

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