Citi CEO says 2 AI races are shaping future of banking

The global financial sector is engaged in two simultaneous and critical races as AI evolves at an unprecedented rate, according to Jane Fraser, the CEO of Citi, the third-largest bank in the United States. While artificial intelligence was likely to cause some job dislocations, new positions would be created, even though the transition process might not be perfectly timed, Fraser said in an interview with the South China Morning Post. “There are two races in AI at the moment,” she said. “One is...