A recent Bloomberg survey of more than 300 senior decision-makers from European financial services firms reveals that AI is now seen as a competitive necessity. Nearly half of respondents believe their firms risk losing market share if they fall behind in AI adoption. Commercial pressure is the primary driver, with 75% citing direct loss of profitability or risk of becoming obsolete as the biggest consequence of not keeping pace with AI.
Bloomberg outlines the key findings as follows:
AI as a Competitive Necessity:
- 75% of respondents see direct loss of profitability or obsolescence as the main risk of lagging in AI adoption, suggesting that AI is increasingly viewed as a competitive necessity rather than a discretionary technology investment.
- Only 6% believe AI is overhyped, indicating broad consensus on its importance.
Agentic AI Expectations:
- 46% expect Agentic AI to drive incremental automation in the next three years.
- 37% anticipate far-reaching transformation of workflows and decision-making.
Current Impact:
- 40% already report measurable business benefits from AI deployments.
- Only 1% report negative outcomes.
Cautious Optimism:
- 37% see themselves as moving with the industry, not leading it, reflecting pragmatic optimism.
Amanda Stent, head of AI strategy & research in the CTO Office at Bloomberg: “Financial institutions clearly see AI as both a strategic necessity and a competitive differentiator. While firms are cautious about the speed and scale of change this technology is introducing, few doubt its potential for long-term impact or the measurable advantage it can deliver. The next phase will be defined by how effectively, not just how quickly, institutions can scale AI across their core operations while embedding the governance, controls, and accountability required for its responsible deployment.”
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