Europe’s banks embrace AI — and confront the price of dependence on US tech
- Posted on May 26, 2026
- By Business News Today
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- 1 min read
Europe’s banks embrace AI — and confront the price of dependence on US tech
The finance industry is rapidly adopting AI, but soaring costs for computing power and AI assistants like Claude are creating financial strain. This is prompting a shift towards building in-house models and potentially industry consolidation, as firms question the long-term pricing and dependence on US tech giants.
