Citigroup Launches AI Tools for Hong Kong Employees, Plans Global Expansion
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Citi launches AI tools for Hong Kong employees
May 22 (Reuters) - Citigroup (C.N), opens new tab has launched Citi AI, a suite of artificial intelligence (AI) tools for its employees in Hong Kong, the bank said on Thursday. The tools support internal operations including information retrieval from Citi's policy library, document summarisation and creation of electronic communications drafts among others, it said in a statement. "These initiatives are in line with Hong Kong Monetary Authority's commitment to promoting responsible adoption of AI across the banking industry," Aveline San, Citi Hong Kong and Macau's CEO and head of banking, said. Citi AI is currently available to about 150,000 employees across 11 countries such as the United States, India and Singapore. The company plans to roll out the tools in more markets this year. Last week, Reuters reported that Citi is cutting up to 200 information technology contractor roles in China as the bank looks to hire its own staff globally for such operations to improve risk management and data governance. Reporting by Nikita Maria Jino in Bengaluru; Editing by Sonia Cheema Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Artificial Intelligence
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Citi launches AI tools for Hong Kong employees
Citi said its AI tools are currently accessible to around 150,000 employees across 11 countries, including the United States, India and Singapore. The company plans to expand availability to more markets later this year. The tools assist with internal functions such as retrieving information from Citi's policy library, summarising documents and drafting electronic communications, among other uses.Citigroup has launched Citi AI, a suite of artificial intelligence (AI) tools for its employees in Hong Kong, the bank said on Thursday. The tools support internal operations including information retrieval from Citi's policy library, document summarisation and creation of electronic communications drafts among others, it said in a statement. "These initiatives are in line with Hong Kong Monetary Authority's commitment to promoting responsible adoption of AI across the banking industry," Aveline San, Citi Hong Kong and Macau's CEO and head of banking, said. Citi AI is currently available to about 150,000 employees across 11 countries such as the United States, India and Singapore. The company plans to roll out the tools in more markets this year. Last week, Reuters reported that Citi is cutting up to 200 information technology contractor roles in China as the bank looks to hire its own staff globally for such operations to improve risk management and data governance.
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Citigroup introduces Citi AI, a suite of AI tools for its Hong Kong employees, supporting various internal operations. The bank plans to expand these tools to more markets globally.
Citigroup Introduces AI Tools in Hong Kong
Citigroup, one of the world's leading financial institutions, has taken a significant step in embracing artificial intelligence (AI) technology. The banking giant has launched Citi AI, a suite of AI-powered tools designed to enhance internal operations for its employees in Hong Kong 1.
Source: Economic Times
Features and Functionality
The newly introduced AI tools support a range of internal operations, showcasing Citigroup's commitment to leveraging cutting-edge technology in its day-to-day activities. Some of the key functionalities of Citi AI include:
- Information retrieval from Citi's policy library
- Document summarization
- Creation of electronic communications drafts
These features are expected to streamline workflows and improve efficiency across various departments within the bank 2.
Global Reach and Expansion Plans
While the launch in Hong Kong marks a significant milestone, Citi AI is not limited to this market alone. The AI suite is currently accessible to approximately 150,000 employees across 11 countries, including major markets such as the United States, India, and Singapore 1.
Citigroup has ambitious plans for the future of Citi AI. The company has announced its intention to roll out these tools in more markets later this year, signaling a broader global adoption of AI technology within its operations 2.
Alignment with Regulatory Initiatives
The introduction of Citi AI in Hong Kong is not just a technological advancement but also a strategic move aligned with local regulatory expectations. Aveline San, CEO of Citi Hong Kong and Macau and head of banking, emphasized that these initiatives are in line with the Hong Kong Monetary Authority's commitment to promoting responsible adoption of AI across the banking industry 1.
Broader Organizational Changes
While Citigroup is investing in AI technology, the company is also undergoing other organizational changes. Recent reports indicate that Citi is cutting up to 200 information technology contractor roles in China. This move is part of a broader strategy to hire its own staff globally for such operations, with the aim of improving risk management and data governance 1.
The launch of Citi AI in Hong Kong, coupled with these organizational shifts, reflects Citigroup's ongoing efforts to modernize its operations, enhance efficiency, and maintain a competitive edge in the rapidly evolving financial services landscape.
Source: Reuters
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