Citigroup, one of the world’s leading financial institutions, has announced the rollout of new artificial intelligence (AI) tools.
These tools aim to enhance productivity and simplify work for its employees.
This initiative will initially cover around 140,000 employees across eight countries, with plans to expand to other markets in the future.
Citigroup AI Tools Overview and Global Rollout
The two main AI tools being introduced are Citi Assist and Citi Stylus.
Citi Assist is designed to search internal bank policies and procedures, acting as a “super-smart coworker” to help employees navigate commonly used policies across HR, risk, compliance, and finance.
On the other hand, Citi Stylus can summarize, compare, or search multiple documents simultaneously.
This capability makes it easier for employees to handle large volumes of information efficiently.
Starting this month, both tools will be accessible to employees in the United States, Canada, Hungary, India, Ireland, Poland, Singapore, and the United Kingdom.
Citigroup plans to gradually expand the availability of these tools to other markets as well.
Tim Ryan, Citigroup’s head of technology and business enablement, emphasized the importance of employee feedback in the development and improvement of these AI tools.
In a memo to staff, Ryan highlighted that the tools are designed to simplify work and increase productivity.
They encourage employees to interact with the tools and propose new uses, ensuring continuous improvement and adaptation to their needs.
Leadership and Vision
Ryan, a former PwC executive, joined Citigroup earlier this year.
He will address bank’s longstanding data management issues alongside Chief Operating Officer Anand Selva.
CTO David Griffiths stated that the AI initiatives are separate from ongoing efforts to improve data quality and infrastructure. These efforts aim to comply with regulatory consent orders.
Large banks have been increasingly adopting AI tools in targeted ways.
For instance, Morgan Stanley has a chatbot that assists financial advisors in client interactions.
Meanwhile, Bank of America’s virtual assistant Erica focuses on day-to-day transactions for retail clients.
Citigroup’s rollout of AI tools for its employees marks a significant step towards modernizing its operations and fostering a more efficient work environment.
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