Banks Struggle To Scale AI As Legacy Tech Devours IT Budgets
CIO Dive , Monday, March 16th, 2026
With AI initiatives stuck in the pilot phase, more than 80% of executives are failing to see anticipated gains from investments, a Capgemini report found.
Corporate and investment bank executives implementing technology innovation programs are experiencing lackluster results. More than 4 in 5 said in a Capgemini Research Institute report released Monday that new product implementations aren't boosting revenue. Another 51% admitted that new products didn't deliver on expected cost savings either.
As consumer AI expectations rise, technology leaders are limited in how they can respond. Executives said only 29% of annual IT budgets are set aside for transformative technologies while a larger chunk - 43% - is devoted to maintaining legacy systems. Capgemini surveyed 150 senior leaders from corporate and investment banks and 600 senior executives from non-bank financial institutions and global corporations.
'Client demands have shifted dramatically, and while CIBs have invested heavily in AI, many are struggling to move beyond the pilot stage,' Catherine Chedru-Refeuil, global head of corporate and investment banking at Capgemini, said in a press release.