CEO of America's third-largest bank, Citi, that cut thousands of tech roles, says: AI will change the nature of jobs, like when I was an analyst, I spent time ...
Citi CEO Jane Fraser revealed the bank is navigating two major AI races: integrating the technology into business models for revenue growth and adapting to its impact on jobs. While acknowledging job dislocations and changes in job nature, Fraser highlighted AI's potential to augment human capabilities. Citigroup recently laid off 3,500 tech roles in China as part of a broader global workforce reduction aimed at streamlining operations and boosting profitability.
Citi CEO Jane Fraser revealed the bank is navigating two major AI races: integrating the technology into business models for revenue growth and adapting to its impact on jobs. While acknowledging job dislocations and changes in job nature, Fraser highlighted AI's potential to augment human capabilities. Citigroup recently laid off 3,500 tech roles in China as part of a broader global workforce reduction aimed at streamlining operations and boosting profitability.
