Bank of Ireland expects artificial intelligence to play a material role in its cost-reduction program, with the bank's leadership estimating that AI will supply about 20% of the 250 million euro in targeted savings to be achieved through 2028.
Company executives described the 250 million euro target as part of a broader efficiency initiative in which new technologies are being integrated across operations while the organization manages a measured workforce transition. The bank's chief executive indicated that, while AI is slated to contribute meaningfully to the 2028 savings goal, its role is expected to expand beyond that horizon as the bank seeks further operational leverage.
The firm's chief financial officer added a separate income-related objective to the picture, saying the organisation sees scope for net interest income to reach 4 billion euros sometime after 2028. The CFO suggested stakeholders will not have an extended wait for that milestone, indicating management expects progress on that front in the years following the initial efficiency plan.
On staffing, the chief executive said reductions in headcount through the 2028 timeframe are expected to be achieved primarily through natural attrition rather than through forced redundancies. That comment frames the bank's workforce strategy as relying on turnover and selective hiring freezes or redeployments rather than large-scale compulsory departures.
Taken together, these statements sketch the bank's dual approach of marrying technology-driven efficiency gains with a managed people-transition plan. The 250 million euro cost savings target is positioned as an efficiency anchor while management simultaneously signals ambition on the revenue side via the post-2028 net interest income aim.
Contextual note: The information above reflects the bank's publicly stated targets and expectations regarding AI's contribution to cost savings, workforce adjustments through 2028, and the potential path for net interest income after 2028.