09.24.25

Financial Firms Fuel a Surge in AI Research, Adoption

by: Matt Ashare

Big banks are accelerating AI research and deployment, according to a study by Evident Insights, with JPMorgan Chase, Capital One, RBC, Wells Fargo and TD Bank leading the way. The number of AI research papers published by major financial firms rose sevenfold from 2019 to 2024, surpassing 750 last year, with a sharp focus on agentic AI. JPMorgan alone accounted for 37% of publications. Banks are channeling research into real-world use cases such as coding assistants, advisory platforms and customer service tools, aiming to balance innovation with regulatory demands. RBC, for example, developed its Atom foundation model to drive long-term value.

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