Citigroup

Global Rollout: Citigroup’s AI tools to revolutionize employee workflows

 

American multinational investment bank and financial services company, Citigroup has unveiled two cutting-edge artificial intelligence tools, Citi Assist and Citi Stylus. These AI tools are meant to streamline workflows and boost productivity for its workforce. Expected to be deployed for around 1,40,000 employees across eight countries, these tools will work to reduce the complexities of the tasks and increase efficiency, senior executives informed on December 04.

 

AI Tools to Simplify Work and Increase Productivity

 

Citi Assist serves as a complete query-solving assistant, meant to aid employees complete complex work seamlessly and access critical information, effortlessly. Meanwhile, Citi Stylus lets the user create summarize, compare or search several documents at once. In a staff memo, Tim Ryan, Citigroup’s Head of Technology and Business Enablement, highlighted these tools’ potential and 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.”

David Griffiths, Chief Technology Officer, also emphasised that these AI initiatives are independent of the bank’s overall drive to enhance data handling and address compliance with regulatory orders. 

 

Gradual Rollout to Expand Globally

 

These tools will be introduced this month with operations in the United States, Canada, Hungary, India, Ireland, Poland, Singapore, and the United Kingdom. Citigroup plans to gradually roll out these features in more markets over the next few months. Employees also are encouraged to suggest new applications of these tools as the company continues to define and advance these efficiencies.

 

AI in Banking: A Growing Trend

 

Citigroup’s adoption of AI systems to work for the company is evidence that other large financial institutions are putting into practice artificial intelligence in their organizations to increase profitability. Some of the highlights include a talk-to-text chatbot for financial advisors at Morgan Stanley and Erica, the retail banking virtual assistant at Bank of America.

Citigroup’s new head of technology, Ryan, who started at Citigroup earlier this year echoed this, saying that the company must first understand how and when employees engage with the new tools in order to discover further use cases. In an interview with Reuters Ryan said “These tools will help to simplify work and increase productivity.”

 

Focus on Productivity and Regulatory Compliance

 

The Citi Assist and Citi Stylus platforms mark a significant step in Citigroup’s journey toward delivering technological advancement in operations. These tools are expected to improve efficiency and ensure productivity, to focus on higher-value tasks. 

This initiative will enhance the existing process of tackling the data management problem in Citigroup under the leadership of Ryan as the CEO and Anand Selva as the COO. This shows how Citigroup is willing to embrace innovation and come to terms with the laws of the land.