BNP Paribas is looking to use AI and gen AI for revenue generation and cost optimization. 

“In 2023, we continued to invest in technology and in artificial intelligence,” Chief Executive Jean-Laurent Bonnafe said during the company’s fourth-quarter earnings call today. 

Investments made in AI and technology will help in “revenue generation, because we will have a better read on what is going on … will [drive] better client experience” and operational efficiencies like “optimization in the call centers,” Bonnafe said. 

Currently, 45% of the bank’s applications are on the cloud, BNP aims to have 60% on the cloud by 2025, according to the bank’s earnings report.

The $2.6 trillion bank aims to generate 500 million euros ($541 million) of value via AI through 2025, according to the bank’s Q4 earnings presentation.  

BNPP said it has implemented 700 AI use cases with 300 more in the pipeline through 2025. It also has identified the following use cases for gen AI: 

• Automatic internal reporting;  
• Coding assistance;  
• Extraction and analysis of unstructured data; and  
• Streamlined call center interactions. 

According to the Paris-based bank’s earnings report, it plans to use AI for: 

• Revenue generation, in trading processes and via personalized marketing campaigns. 
• Customer experience, including a smart FAQ chatbot and automated compliance analysis. 
• Efficiencies, including use in document processing platforms, retrieval of unstructured information in documents for credit processes and know your customer processes. 

BY THE NUMBERS: In Q4, BNPP reported:

• Revenue of $11.7 billion, up 0.1% year over year; 
• Commercial deposits and savings of $254 billion, down 5% YoY; and 
• Operating expenses [including equipment expenses] of $4.3 billion, up 3.9% YoY. 

NOTEWORTHY: BNPP is developing quantum computing to secure its communications and get ready for a post-cryptography world, Anissa Achab, an expert in security and risk management at the bank, told BAN. 

The bank has 3,600 employees working in cybersecurity and spends 8% to 12% of its IT budget on ensuring the security of its customers’ data and its data banks. 

Read more on quantum computing

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Editor’s Note: All figures have been converted to U.S. dollars.

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