Recent data from AI benchmarking platform Evident indicates that several leading global banks are decreasing their dependence on OpenAI for their large language model (LLM) needs. These institutions are exploring alternative providers to support their AI-driven services and operations.
The trend reflects a broader diversification in the adoption of AI technologies within the financial sector, as banks seek to balance performance, cost, and compliance considerations when selecting LLM providers.
**Why this matters**
Large language models play a critical role in automating customer interactions, risk assessment, and other banking functions. Changes in provider preferences can influence the development and deployment of AI tools in finance, potentially affecting innovation, security, and regulatory compliance across the industry.