Citigroup has initiated the rollout of new artificial intelligence (AI) tools across its global workforce, with approximately 140,000 employees set to gain access, reported Reuters.
In a memo, Citigroup’s head of technology and business enablement, Tim Ryan, detailed the capabilities of these tools, including Citi Assist and Citi Stylus.
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Citi Assist is designed to facilitate the navigation of internal bank policies and procedures.
In the memo, Ryan stated: “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.”
Meanwhile, Citi Stylus offers the ability to summarise, compare, or search multiple documents simultaneously.
These tools will be available to staff in the US, Canada, Hungary, India, Ireland, Poland, Singapore, and the UK, starting this month, with plans for a broader roll-out gradually.
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By GlobalDataRyan, in a video interview with Reuters, mentioned that Citigroup will monitor employee interactions with the tools to explore new applications, while also encouraging staff to propose their own ideas.
“These tools will help to simplify work and increase productivity,” he added.
Ryan, who joined Citigroup earlier this year after serving as a PwC executive, has been tasked since September with addressing the bank’s data management challenges alongside chief operating officer Anand Selva.
Chief technology officer David Griffiths clarified in the interview that these AI initiatives are “separate” from efforts to enhance data quality and infrastructure, which are part of compliance measures with regulatory consent orders.
Other major US banks have also been integrating artificial intelligence into their operations. Morgan Stanley employs a chatbot to assist financial advisors with client interactions, and Bank of America‘s virtual assistant Erica is geared towards managing the day-to-day transactions of retail clients.
