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CITI SEES AI DISPLACING MORE BANK JOBS THAN ANY OTHER SECTOR

 * About 54% of banking jobs have high potential to be automated
 * But banks will have to hire more AI managers, compliance staff

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By Aisha S Gani
June 19, 2024 at 7:05 AM HST
Updated on
June 19, 2024 at 11:59 PM HST
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Citigroup Inc. said artificial intelligence is likely to displace more jobs
across the banking industry than in any other sector as the technology is poised
to upend consumer finance and makes workers more productive.

About 54% of jobs across banking have a high potential to be automated, the bank
said Wednesday in a new reportBloomberg Terminal on AI. An additional 12% of
roles across the industry could be augmented with the technology, Citigroup
found.

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