Accenture's banking lead: bank AI spending is FOMO-driven, and ROI still isn't measured
Banks spent more than $40B on AI last year, but only about 20% of leaders report seeing widespread, sustained value. Individual productivity gains aren't turning into system-wide returns because workflows haven't been restructured.
Accenture's global banking lead Mike Abbott said in reporting published September 10, 2026 that banks' AI spending exceeded $40 billion last year, but only about 20% of bank leaders report seeing widespread, sustained value from it. Individual productivity gains, which Abbott puts at 10-15% per person in many cases, aren't turning into system-wide return on investment because most banks haven't restructured the workflows around the AI they've deployed.
Why banks keep spending
Abbott's explanation: "banks are pretty good at copying each other." That comes from a consulting executive at the firm advising many of these banks. By his account, fear of falling behind competitors, more than a measured ROI case, is driving a meaningful share of a $40 billion-plus spend category.
What finance leaders should check
A 10-15% individual gain that never shows up in system-wide numbers is the classic sign of AI bolted onto an unchanged process. Before approving more spend, check whether the workflow around the tool changed. If it didn't, the per-person gains will stay per-person.