Citi equips Hong Kong staff with new AI tools

Citigroup is expanding its artificial intelligence capabilities with the rollout of Citi AI tools for employees in Hong Kong, representing another major financial institution embracing AI for internal operations. The deployment aligns with Hong Kong Monetary Authority’s push for responsible AI adoption in banking and extends Citi’s existing AI implementation that already reaches 150,000 employees across 11 countries, showcasing how financial giants are strategically integrating AI into their global operations.

The big picture: Citigroup has launched Citi AI, a suite of artificial intelligence tools for its employees in Hong Kong, supporting internal operations across several key functions.

Key details: The AI tools support information retrieval from Citi’s policy library, document summarization, and creation of electronic communications drafts.

• The Hong Kong deployment is part of Citi AI’s broader availability to approximately 150,000 employees across 11 countries including the United States, India, and Singapore.
• Citi plans to expand the rollout to additional markets throughout 2024.

What they’re saying: “These initiatives are in line with Hong Kong Monetary Authority’s commitment to promoting responsible adoption of AI across the banking industry,” said Aveline San, Citi Hong Kong and Macau’s CEO and head of banking.

Behind the numbers: While Citi expands its AI tools globally, the bank is simultaneously restructuring its workforce, cutting up to 200 information technology contractor roles in China.

• According to Reuters, Citi aims to hire its own staff globally for these operations to improve risk management and data governance.