The financial sector is on the cusp of a seismic shift, courtesy of Artificial Intelligence (AI). A new report from Citigroup researchers suggests that finance will be at the forefront of AI-driven changes, with 67% of banking jobs having a high potential for automation or augmentation. While this might spell doom for some, the report also highlights the potential for AI to increase the global banking sector’s profit pool by 9% or $170 billion. However, the adoption of AI in finance is expected to be slow due to the highly regulated nature of the sector. Despite this, experts believe that AI will fundamentally change the face of finance, with new job opportunities emerging in areas such as AI-related compliance management and ethics governance. As the industry navigates this transformation, one thing is clear: the future of finance will be shaped by AI.
AI Revolution in Finance
About 67% of banking jobs have “higher potential” to be automated or augmented by AI.
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