Santander’s Botin Sees €1 Billion AI Boost Amid Efficiency Push

Banco Santander SA Executive Chair Ana Botin is counting on artificial intelligence to provide more than €1 billion ($1.2 billion) to targets she’s set for the next years.

AI will help Spain’s largest lender to grow annual revenue by about €300 million and cut costs by about €700 million in 2028, Botin said at an investor event Wednesday. She highlighted the use of AI to “gain primacy with customers,” sell more banking products to existing clients and “agentic commerce” as levers to achieve that goal, according to a presentation published ahead of the event.