AIB is implementing artificial intelligence tools across the company after exploring its potential with staff
AIB will embed artificial intelligence (AI), in business tools, throughout the bank to free up time for 10,000 employees. This will allow them to focus on higher-value work.
The AI Centre of Excellence of the Irish bank will develop new tools through Copilot Studio, including using AI with Microsoft tools like Outlook, Word and Excel, Teams, PowerPoint, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, Teams, PowerPoint, Word, Excel. Tools could be developed that would help staff to gain insights faster from complex data, improving decision-making processes. The bank stated that these tools would allow employees to focus more on important tasks by reducing the time they spend on repetitive work.
AIB chief technology officer Graham Fagan said: “We are equipping all AIB colleagues with Microsoft Copilot tools to embed AI into the flow and work of tasks in order to simplify them, build fluency and elevate customer experiences.
We’ve been exploring the potential of AI with our employees, through collaboration and testing. Now, we’re scaling this across the organization to deliver smarter and faster outcomes for our people and customers. Our AI Centre of Excellence laid the foundation for this shift by ensuring that every deployment of AI [GenAI] and generative AI
is secure and purposeful, and people-centric.
Many traditional roles are set to disappear, as AI adoption accelerates in finance.
Both the Bank of England and FCA have been monitoring how UK financial services firms are using AI and machine-learning. The results of the latest survey, which covered 120 firms and found that three quarters of them are already using AI in their operations.
According to the survey, some of the early AI use cases were low-risk from a financial stability perspective. For example, 41% use AI to optimize internal processes while 26% use AI to enhance customer service
According research by OpenAI & the University of Pennsylvania roles that will be impacted include accountants, legal assistants, financial analysts, journalists, translators, and public relations professionals. Goldman Sachs, meanwhile, published figures in March of 2023 that spoke about 300 million jobs being affected by AI across all sectors.
AIB stated that it is collaborating with Ireland’s Financial Services Union (which represents workers in this sector) regarding its AI implementation.
The UK government conducted a trial with 20,000 civil service employees to use AI. It claimed that the technology could save them nearly two weeks per year.
The GenAI tools used in the trial, such as Microsoft 365 Copilot, were designed to help with everyday tasks. These included drafting documents, summarizing lengthy emails, updating records, and preparing reports. The results are in line with research by the Alan Turing Institute which found that AI can support up to 41% tasks in the public sector and save significant time.
AIB highlighted the expected benefits for economies, citing research from Microsoft and Trinity College Dublin that AI adoption in Ireland is up to 91%. This is nearly double what it was in 2024 and will add EUR250bn by 2035.
