AI Set to Transform Banking and Corporate America

Citigroup and survey data reveal rapid AI adoption, reshaping job landscapes and boosting profitability.

Citigroup predicts over 50% of banking jobs at risk due to AI, with significant impacts on insurance and energy sectors.
Nearly half of large US firms plan to automate tasks within the next year to cut costs and increase efficiency.
AI adoption is expected to enhance product quality, output, and profitability while reducing labor costs.
Experts suggest AI will create new roles and necessitate reskilling for existing employees to stay relevant.
Regulatory concerns and the need for strong risk management systems accompany the rapid AI integration.