Ana Botín, the president of Spain's largest bank, Santander, has made artificial intelligence (AI) a central element of the bank's future strategy. During the announcement of the new roadmap, she emphasized that the institution aims to generate 1 billion euros in additional revenue within the next two years by adopting AI technologies. The projected result is a breakdown of 300 million euros in new income and 700 million euros in cost reductions. This ambitious goal is set as part of a broader vision that includes achieving 20,000 million euros in annual profit and a 20% return on equity by 2028.

The Santander group's strategic shift includes relocating its headquarters to London, a move that symbolizes a fresh approach to growth and operational efficiency. The bank plans to roll out various AI solutions this year, which they believe will serve as significant growth levers. By leveraging AI, Santander intends not only to enhance customer services and operational efficiency but also to streamline costs while substantially increasing profitability.

This plan reflects a growing trend among financial institutions recognizing the necessity of integrating advanced technologies to remain competitive in a rapidly evolving market. Santander's commitment to AI could set a precedent in the banking sector, highlighting the importance of innovation in driving financial performance and reshaping traditional banking models to cater to a tech-savvy customer base.