Citigroup plans to use generative artificial intelligence technology toApply to its service program development, enabling its more than 4 programmers to accelerate application service development with the help of artificial intelligence.
Prior to this, Citigroup had begun testing with about 250 programmers and expected to expand automatically generated artificial intelligence to most programming applications starting in 2024.
Since many financial services involve complex transaction terms, and local government agencies have different laws and regulations for the financial industry, it is necessary to fully understand all regulations when writing programs to avoid illegal issues during the use of application services.
This situation has also caused many financial services to develop slowly. Therefore, Citigroup hopes to use artificial intelligence to assist programmers. Not only can they speed up the application service development process through artificial intelligence, or check whether there are errors in the program code, but they can also use artificial intelligence to help summarize or understand the content of financial regulations.
For example, when the U.S. federal government announced 1089 pages of new capital regulations for the U.S. banking industry, CitigroupGenerative Artificial IntelligenceProvide verbatim summaries and also assist in summarizing most analysis reports internally to facilitate rapid communication within the internal team.
When automated generative AI technologies like ChatGPT began to gain popularity, Citigroup began researching how to incorporate them. Citigroup Chief Information Officer Stuart Riley stated that the company had established two task forces to explore the potential applications of automated generative AI, including how it could replace traditional, simple tasks or assist in processing more complex financial transactions.
Regarding whether artificial intelligence can replace a lot of manpower, Stuart Riley believes that artificial intelligence still needs to operate under human supervision, so a large amount of manpower will still be required overall.
