UBS only European bank in top 10 of AI adoption as JPMorgan Chase leads

UBS alone among European banks tops a ranking of how widely major banks have adopted artificial intelligence, according to a new analysis published by Evident. The Swiss bank's European peers, including HSBC, Lloyds Banking Group, NatWest and Barclays, occupy spots in the top ten. Meanwhile, North American banks led by JPMorgan Chase have widened their lead over global rivals.

The ranking, based on public data, examined 50 major lenders in North America, Europe and Asia-Pacific, tracking over 1,100 distinct AI applications since 2021. Banks are using AI to combat fraud, develop software, evaluate loan applications and enhance client service. UBS climbed to sixth place this year, while HSBC fell to 11th.

European banks continue to dominate the next ten positions. JPMorgan Chase remains the leader, followed closely by Capital One. Royal Bank of Canada and Australia's CommBank round out the top five globally. Evident's data shows AI capabilities in the banking sector have improved nearly threefold compared to the previous three years, the fastest growth since the index began in 2023.

Despite concerns about job losses, Evident found top banks are still hiring AI specialists and prioritizing growth. Morgan Stanley is reinvesting developer hours saved by its AI platform, while UBS's AI tool saves advisers approximately 1,200 hours weekly. Twelve banks now report a return on AI investment, up from eight, including Lloyds Banking Group, which cites significant value from generative AI in 2025.

With AI budgets at record levels, banks with proven returns are likely to secure continued funding, according to Evident. Around 80% of the top banks have implemented advanced safeguards for AI use, compared to 40% of the rest. In the EU, AI used for creditworthiness assessments is considered high-risk under the AI Act, with rules delayed until December 2027. Evident plans to add a fifth pillar measuring AI outcomes in 2027.