South Africa's Financial Firms Struggle to Measure AI's Business Value

South Africa’s largest financial services firms are increasingly presenting AI as a growth driver, but struggle to prove its business value. They are telling a growth story at a time when profitable growth is difficult to find. Corporate deposits have climbed above R1.8-trillion, from R1.1-trillion in 2019, according to the South African Reserve Bank’s Quarterly Bulletin for September 2026.

Financial services firms have always depended on technology, but technology was rarely the product itself. Growth came from expanding into new markets, launching new products or increasing share of wallet. Today customers increasingly experience the business through digital channels, making technology, data and AI central to both value creation and competitive differentiation.

Measuring strategic investments in AI and technology is as critical as measuring any other significant investment. Technology can do it automatically and continuously, in real time, if measurement is designed into it from the start, closing a critical feedback loop for boards and executive committees.