Itaú expands generative AI to serve entire customer base by year-end

Itaú, Brazil’s largest bank, is leveraging generative AI to enhance customer and employee experiences through its AI First strategy. The bank’s ia.i platform, a conversational interface, aims to serve its entire customer base by the end of 2026. Carlos Eduardo Mazzei, Itaú’s CTO, emphasized the importance of simplicity and directness in AI solutions, stating that the technology should be almost unnoticeable to customers. A study by Itaú and Grupo Consumoteca revealed that 80% of Brazilians seek better financial organization, with 65% interested in financial copilots. The bank’s AI strategy includes the IARA governance platform, which manages access to various models, ensuring responsible AI practices. IARA supports solutions like the legal department’s automated document analysis, processing over 2 million tasks monthly with efficiency gains of 20% to 80%. Mazzei highlighted the need for secure, governed model usage to maintain economic viability. The platform also powers Customer DNA, enriching financial context for 70 million customers using GPT models. Itaú plans to expand ia.i’s capabilities, including product simulations and recurring financial analyses, by year-end. The bank expects to triple customer relationship time, double service speed, and triple conversation effectiveness. Mazzei stressed that AI should align with the bank’s values, reducing bias and ensuring cultural relevance in customer interactions.