NEW YORK, Dec 4 (Reuters) - Citigroup ( C/PN ) began rolling out
on Wednesday new artificial intelligence tools to be used by
employees in eight countries, senior executives said.
Around 140,000 employees will have access to the tools. In a
memo to staff sent on Wednesday, Tim Ryan, head of technology
and business enablement, explained how each of them works.
Citi Assist searches internal bank policies and procedures.
"It's like having a super-smart coworker at your fingertips to
help navigate commonly used policies and procedures across HR,
risk, compliance, and finance," Ryan said in the memo.
The other tool, Citi Stylus, is able to summarize, compare
or search multiple documents at the same time. Beginning this
month, both tools will be accessible to employees in the U.S.,
Canada, Hungary, India, Ireland, Poland, Singapore and the
United Kingdom. They will be gradually expanded to other
markets.
Large banks have been using artificial intelligence tools in
more targeted ways. Morgan Stanley has a chatbot that helps
financial advisors in interactions with clients, and Bank of
America's virtual assistant Erica focuses on day-to-day
transactions of retail clients.
Ryan said in a video interview with Reuters that Citi will
review how employees are interacting with the tools to develop
new uses for them, but staff may also make proposals. "These
tools will help to simplify work and increase productivity.", he
added.
Ryan, a former PwC executive, joined Citigroup ( C/PN ) earlier this
year and is responsible since September for fixing the bank's
longstanding data management issues alongside Chief Operating
Officer Anand Selva.
Chief Technology Officer David Griffiths said in the
interview that the artificial intelligence initiatives are
"separate" from the work being carried to improve the bank's
data quality and infrastructure to comply with regulators
consent orders.