Citigroup says AI could replace more than half of jobs in banking

Citigroup has issued a report revealing that AI could automate over half of the jobs in the banking sector, significantly transforming consumer finance and enhancing productivity. The bank notes that around 54% of banking roles have a high likelihood of automation, with another 12% potentially being augmented by AI technology.

The report underscores the growing experimentation with AI by the world's largest banks, driven by the potential to improve staff productivity and reduce costs. This highlights a major shift within the banking industry towards AI-driven operations.

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