Citigroup Rolls Out AI Tools to Boost Employee Productivity: Report

Citigroup Rolls Out AI Tools to Boost Employee Productivity: Report
Citigroup has started rolling out new artificial intelligence (AI) tools for its employees. The financial services company has introduced two AI tools, Citi Assist and Citi Stylus, to enhance productivity for its 140,000 employees across eight countries, including the US, Canada, Hungary, India, Ireland, Poland, Singapore, and the United Kingdom, according to a Reuters report. Citi Assist helps staff navigate internal bank policies and procedures, while Citi Stylus can summarise, compare, and search multiple documents simultaneously.

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Also Read: BNP Paribas Advances AI Integration into Banking with Over 750 Use Cases in Production

Citi’s Leap into AI Adoption

The tools, which are set to expand gradually, aim to simplify work processes and improve efficiency. According to the report, In a memo sent to employees on Wednesday, Tim Ryan, Citigroup’s head of technology and business enablement, detailed how each tool functions.

In the memo, Ryan reportedly said: “It’s like having a super-smart coworker at your fingertips to help navigate commonly used policies and procedures across HR, risk, compliance, and finance.”

Large Banks Deploying AI

Large banks are increasingly deploying AI tools in specific ways. For example, Morgan Stanley uses a chatbot to assist financial advisors in client interactions, while Bank of America‘s virtual assistant, Erica, manages routine transactions for retail clients. According to a CNBC report in October, Edward J. Achtner, head of generative AI at UK-based HSBC, mentioned that the bank employs more than 550 AI use cases across its business lines. These include fighting money laundering and fraud with machine learning tools and supporting knowledge workers with generative AI systems.