{"id":118124,"date":"2025-11-02T19:20:11","date_gmt":"2025-11-02T19:20:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/118124\/"},"modified":"2025-11-02T19:20:11","modified_gmt":"2025-11-02T19:20:11","slug":"wall-streets-big-bet-how-banks-from-jpmorgan-to-bofa-are-using-ai","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/118124\/","title":{"rendered":"Wall Street’s Big Bet: How Banks From JPMorgan to BofA Are Using AI"},"content":{"rendered":"

Citigroup has also been aggressively accelerating its AI plans. Over the summer, the bank doubled down on its AI ambitions with new leadership<\/a> at the helm of its tech transformation.<\/p>\n

In mid-October, Citi CEO Jane Fraser said that nearly 180,000 employees in 83 countries have access to the bank’s proprietary AI tools and have used them almost 7 million times this year.<\/p>\n

Its generative AI tools have saved 100,000 developer hours a week with automated code reviews \u2014 “a very meaningful productivity uplift,” she said during the firm’s third quarter earnings call.<\/p>\n

The bank launched the pilot of agentic AI for 5,000 colleagues in September.<\/p>\n

“It allows complex, multi-step tasks to be completed with a single prompt, and the early results are very promising, and we’ll expand access to this in the months ahead,” said Fraser. “Finally, we have launched a firm-wide effort to systematically embed AI in our processes end-to-end to drive further efficiencies, reduce risk, and improve client experience.”<\/p>\n

She also highlighted several tools to help its wealth management advisors. Citi hired an AI leader from Morgan Stanley <\/a>earlier this year to help revamp its wealth technology.<\/p>\n

Like JPMorgan, Citi is also telling employees to use AI for performance reviews, Fraser recently told Bloomberg<\/a> in an interview.<\/p>\n

One of Citi’s top tech executives, Shadman Zafar, outlined the bank’s four-phased AI strategy and how it will “change how we work for decades to come.”<\/p>\n","protected":false},"excerpt":{"rendered":"Citigroup has also been aggressively accelerating its AI plans. Over the summer, the bank doubled down on its…\n","protected":false},"author":2,"featured_media":118125,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,219,4671,2667,70831,57371,2356,54775,22028,7316,61,8164,60,13234,2095,15592,80,3056],"class_list":["post-118124","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-bank","tag-banks","tag-big-bank","tag-bofa","tag-business-insider","tag-fabric","tag-firm","tag-goldman-sachs","tag-ie","tag-influence","tag-ireland","tag-jpmorgan","tag-office","tag-operation","tag-technology","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/118124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=118124"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/118124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/118125"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=118124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=118124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=118124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}