Standard Bank has expanded generative artificial intelligence across its operations, with 72% of employees now active users of the technology.
The adoption rate shows how quickly AI use has grown at Africa’s largest lender. In June, Standard Bank reported more than 20,000 active generative AI users. Its latest results show use has since spread to nearly three-quarters of its workforce.
The bank has approved 87 AI use cases. Its AI-enabled recommendation tools have also supported more than 10 million personalised client interactions.
These figures show generative AI moving beyond pilot projects and specialist technology teams into daily operations.
Years of digital investment support AI adoption
Standard Bank’s investment in technology started before the recent rise of generative AI.
The group has invested in data, machine learning, cloud computing and digital banking for several years. This work provided much of the infrastructure needed to introduce newer AI systems across the business.
The bank has moved 78% of its eligible computing capacity to the cloud.
Software, cloud and other technology-related costs increased by 6% to R7.16 billion during the six months to June.
Total technology costs across the banking operations rose by 2% to R11.83 billion. Lower amortisation and other expenses helped limit the increase.
Customers are completing more transactions online
The growth in AI use comes as more Standard Bank customers shift towards digital services.
Digital transaction volumes in the bank’s South African personal and private banking business increased by 17% to 1.7 billion. Digital logins rose by 22%.
AI is entering a business where a growing share of employee tasks and customer activity already takes place through digital channels.
Standard Bank reports record earnings
Standard Bank reported another record financial performance alongside its technology expansion.
Group headline earnings increased by 10% to R26.1 billion for the six months ended June. Return on equity reached 19.8%.
The interim dividend increased by 10% to 902 cents per share.
Credit impairments fell by 12% to R7.1 billion, helping offset the pressure from lower interest rates and tighter lending margins.
Has AI improved Standard Bank’s profitability?
The results do not show how much of the bank’s profit growth came from AI.
Standard Bank has also not disclosed a group-wide productivity figure linked to its use of the technology. Lower credit impairments, fee growth and trading income were among the factors supporting earnings during the period.
The adoption rate offers a clearer measure of progress. Generative AI entered corporate South Africa through experiments, proofs of concept and individual productivity tools.
At Standard Bank, the technology now operates on an established digital and cloud infrastructure and is used by most of the workforce.
With almost three in every four employees using generative AI, the next test will be its measurable effect on productivity, customer service and the way work is organised.
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