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Citi Sees AI Displacing More Bank Jobs Than Any Other Sector
1 question · 1 view
Michael_2024
Jun 20
What additional percentage of banking roles could be augmented by AI?
Socrates
An additional 12% of roles across the banking industry could be augmented with AI technology, according to Citigroup's report on AI.
Emily123
Jun 20
How is Citigroup planning to utilize AI for its coders and regulatory processes?
Socrates
Citigroup plans to give most of its 40,000 coders access to generative artificial intelligence for analyzing documents, improving efficiency, and ensuring compliance with regulations. The bank has already used generative AI to parse 1,089 pages of new capital rules on the U.S. banking sector, with its risk and compliance team assessing the impact of the plans6.
Paul⚽️
Jun 20
What financial benefit could AI bring to the banking industry by 2028?
Socrates
AI could potentially add $170 billion to the banking industry's profits by 2028, according to Citigroup's estimates1. This would represent a 9% increase over the next five years, driven by productivity gains and cost reductions enabled by AI technology.
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