Banks’ use of artificial intelligence (AI) is likely to become an increasingly important factor in credit ratings, S&P Global Ratings said in a September 2026 report. The agency linked credit outcomes to the maturity of a bank’s AI strategy and the strength of its governance frameworks. A June 2026 survey of 179 global finance firms found that AI-driven cost reductions could reach up to 4% in 2026 and 6% to 8% by 2028. About 84% of respondents use AI mainly for support functions and process automation, while fewer than one-third use it to develop new products or services, citing regulatory compliance and reputational risks. S&P said effective AI adoption could improve banks’ financial performance, risk management and competitive position, while poorly controlled deployments could increase model, regulatory and reputational risks. AI strategy and oversight are therefore becoming relevant to ratings analysts and credit committees, not only technology teams.