European banks struggle with AI, while US banks lead the field, according to a new index

In the wake of a seminal wave of new artificial intelligence startups such as OpenAI, a new U.K. company claims it can track and rank banks on their ability to develop and deploy AI platforms. Evident, a benchmarking and intelligence company, says its inaugural Index can rank the 23 largest banks in North America and Europe on their competence in AI. "As the real-world application of AI accelerates at astonishing speed, we believe that this transformation is too important -- for managers, for investors, for society at large -- to be happening in a darkened room. Our Index measures the race to banking AI maturity in a way that brings transparency to the top of the agenda," said Alexandra Mousavizadeh, Evident co-founder and CEO in a statement. Over a call she added: "Setting our methodology onto the banks felt like the right place to start because this is a sector that has been really focused on this for a number of years. After this we plan to go into insurance and the health sector as well as the energy sector, manufacturing and so on."