Citigroup rolls out artificial intelligence tools for employees in eight countries


FILE PHOTO: A Citibank ATM is seen in Los Angeles, California, March 10, 2015. REUTERS/Lucy Nicholson/File Photo

NEW YORK (Reuters) - Citigroup began rolling out on Wednesday new artificial intelligence tools to be used by employees in eight countries, senior executives said.

Around 140,000 employees will have access to the tools. In a memo to staff sent on Wednesday, Tim Ryan, head of technology and business enablement, explained how each of them works.

Citi Assist searches internal bank policies and procedures. "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," Ryan said in the memo.

The other tool, Citi Stylus, is able to summarize, compare or search multiple documents at the same time. Beginning this month, both tools will be accessible to employees in the U.S., Canada, Hungary, India, Ireland, Poland, Singapore and the United Kingdom. They will be gradually expanded to other markets.

Large banks have been using artificial intelligence tools in more targeted ways. Morgan Stanley has a chatbot that helps financial advisors in interactions with clients, and Bank of America's virtual assistant Erica focuses on day-to-day transactions of retail clients.

Ryan said in a video interview with Reuters that Citi will review how employees are interacting with the tools to develop new uses for them, but staff may also make proposals. "These tools will help to simplify work and increase productivity.", he added.

Ryan, a former PwC executive, joined Citigroup earlier this year and is responsible since September for fixing the bank's longstanding data management issues alongside Chief Operating Officer Anand Selva.

Chief Technology Officer David Griffiths said in the interview that the artificial intelligence initiatives are "separate" from the work being carried to improve the bank's data quality and infrastructure to comply with regulators consent orders.

(Reporting by Tatiana Bautzer; Editing by Nick Zieminski)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Intel names two chip industry veterans to its board amid CEO search
US FDA cited animal lab at Musk’s Neuralink for ‘objectionable conditions’
Alphabet's Waymo to expand ride-hailing services to Miami
Broadcom unveils new tech to speed up custom chips amid rising GenAI demand
AI startup Perplexity adds The Independent, LA Times to its publishers' program
Italian startup iGenius and Nvidia to build major AI system
AI startup Cohere to prioritize customized over larger models in enterprise push
EU orders TikTok to freeze Romanian elections data
Amazon successfully tests using delivery drones in Italy
Meta buys credits from four big US solar projects

Others Also Read