Citigroup Inc. (C) is increasing its use of artificial intelligence to make daily work faster and more efficient. The bank said its AI tools now complete some coding tasks in minutes that once took top developers more than a week. The system also reviews code automatically, saving about 100,000 developer hours each week. That is equal to the work of roughly 2,500 people in a normal 40-hour week.
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Chief Executive Jane Fraser said AI is helping the bank rework long and slow processes. Speaking at an event in Riyadh, she compared it to the invention of the dishwasher. Both aim for the same outcome but change the way people get there. The goal, she said, is to rethink every manual task from start to finish and see how AI can do it better.
From Coding to Performance Reviews
Citigroup is using the technology in credit decisions, marketing, and customer service. Fraser also said that AI is helping with staff tasks, including performance reviews. The system writes a first draft so managers can focus on editing instead of starting from scratch. She said that move alone drew cheers across the firm.
Fraser added that AI can improve how banks manage risk, though it can also create new risks. Other finance leaders at the same event shared similar views. Barclays Plc (BCS) Chief Executive CS Venkatakrishnan said his firm uses AI to handle smaller credit checks. Goldman Sachs Group Inc. (GS) Chief Executive David Solomon said AI will reshape some jobs but not replace human contact, adding that trust and advice remain human skills.
AI Becomes a Common Tool in Banking
Citigroup’s push comes as other major banks bring AI into everyday work. JPMorgan Chase & Co. (JPM) is now letting staff use its in-house AI tool to help write year-end performance reviews. The system, called LLM Suite, generates text from short prompts. Employees then edit and finish the reviews themselves. JPMorgan said the tool should be used only as a writing aid, not for pay or promotion decisions.
The move by Citigroup and JPMorgan shows how fast AI is becoming part of regular office work. Boston Consulting Group says that using AI to write reviews can cut writing time by 40%. For now, banks are keeping human oversight in place to make sure results stay accurate and personal. Whether the rise of AI across finance turns out positive or negative is still unclear, but its presence is growing fast.
Is C Stock a Buy?
On the Street, Citigroup Inc. boasts a Moderate Buy consensus rating, based on 16 analysts’ ratings. The average C price target is $113.43, suggesting a 12.32% upside from the current price.
