Kenya's banking sector is at a pivotal moment, poised for a major transformation driven by artificial intelligence (AI). Despite widespread optimism among executives, most banks are unprepared for this shift, creating opportunities for digital-first competitors.

• Over 80% of senior banking executives believe generative AI will be transformative for the sector.
• Less than 25% of banks are prepared for the AI transition, with only 28% considering themselves "mostly prepared" or better.
• Akili AI showcased practical AI applications at iXAfrica Data Centres in Nairobi, including automated customer support in Kenyan vernacular languages and instant loan approvals.
• Customer acquisition costs for digital banks can be up to 90% lower than traditional models, and operational costs are 80–90% lower for digital accounts.
• Simon Bransfield-Garth, CEO of Akili AI, stated that the AI revolution in banking is happening now, offering banks opportunities to reduce costs and reach more customers.