Reported 8 months ago
Citigroup's report warns that AI will have a significant impact on the finance sector, particularly in banking, with 67% of banking jobs at risk of being changed or outsourced by AI. While AI brings opportunities for growth and innovation, it also poses challenges and creates losers in the industry. The report highlights that banks can benefit greatly from AI implementation, potentially adding $170 billion to the banking sector's profit pool by 2028, despite concerns about compliance, data security, and ethics. Financial services may lag behind other sectors in AI adoption due to regulatory hurdles and lack of global standards, according to Citigroup.
Source: YAHOO