USBU.S. Bancorp

“we had a commentary from Stephen in the recent conference about the usage of AI. We have a lot of businesses that have complex operations that we do very well, if you think about fund services and corporate trust. So this is an opportunity for us to leverage AI and go on offense really and simplify our operations and the complexity that goes along with it. We have the knowledge of how these things work and so we should be able to take advantage of that faster than any other outside competitor or fintech or whatever the case may be.”

“We don't see any particular business be truly exposed to an en masse sort of disruption either in terms of price collapse or volume transition. What we are seeing is a very rapid shift in customer search behavior in how they find products and services. So to the extent that we need to keep up with the discovery, and it's very like basic things like search engine optimization tools for marketing are very rapidly migrating to the AI world. The reason we don't think that is going to be impacting our business is because we are building those capabilities and transitioning our approaches pretty rapidly too and there's a lot of tool kit. So I will tell you we are watching these trends very carefully to see how it might be. But as of now, we are not seeing anything that would show a sudden discontinuity or shift here.”

“we are very focused on what AI can do. So that's the priorities: fee growth, strengthen the consumer franchise and go down the journey of becoming an AI-native organization.”

“we see opportunities to build on our strong operating leverage story, supported in part by the ongoing deployment of AI and other automation tools to improve efficiency.”