Artificial intelligence (AI) in banking is a fast-developing reality as banks around the world are looking to leverage the technology to reduce costs and create better client experiences. "Based on our UBS Evidence Lab survey of 86 banks, an optimal scenario of limited disruption suggests AI technology could potentially lead to a 3.4% revenue uplift and cost savings of 3.9% over the next three years," UBS strategist Philip Finch wrote a recent note titled Is AI the next revolution in retail banking? Goldman Sachs estimates a £26 billion (US$36.2 billion) to £33 billion (US$46 billion) in annual "cost savings and new revenue opportunities" within the financial sector by 2025, enabled by AI and machine learning. One of the most basic objectives for AI at banks is a reduction in time "wasted" on any task that can be automated. These include rules-based tasks, such as entry, validation, and manipulation of data, as well as creation, uploading, and exporting of data files.