UniCredit Sees Up to €500 Million in AI Cost Cuts in Next Years

UniCredit SpA Chief Executive Officer Andrea Orcel said the bank is quantifying the impact of artificial intelligence at about €400 million to €500 million ($576 million) in net cost reductions over roughly five years, driven by efficiency gains across core processes such as lending, compliance and client onboarding.

Orcel described AI as “a big opportunity and not a threat,” but cautioned that the technology is only effective if deployed with clear objectives and a willingness to rethink how the bank operates. “AI is a tool,” he said Wednesday at a conference hosted by Morgan Stanley.