Citi CEO Jane Fraser: Banks face offensive and defensive AI races simultaneously
By
Alina Maria Stan
Summary
Citigroup CEO Jane Fraser describes two parallel AI races in banking: an offensive race to apply AI for revenue growth, faster product development, and improved customer service; and a defensive race to protect the bank, customers, and financial ecosystem from fraud, money laundering, and cyber threats — noting that criminals are already actively using AI.
Source
bskyCiti CEO Jane Fraser: Banks face offensive and defensive AI races simultaneouslythenextweb.comKey quotes
· 3 pulledThe first is applying AI to business models to drive revenue growth, shortening product development cycles and improving customer service.
Fraser said Citi's job is to keep the bank, its customers, and the wider financial ecosystem secure, with heavy investment so that fraud, money laundering, and cyber threats 'don't become a problem'.
That defensive race is not hypothetical, as criminals already run
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