Citi report: GenAI revolution will bring increased need for compliance


A new report on the use of artificial intelligence (AI) in financial services predicts that the technology will drive profits, disruptions, and change over the next decade.

The report also predicted that the need for compliance officers to develop frameworks, guardrails, and ethical policies and procedures for the use of generative AI (GenAI) in financial institutions will grow as quickly as the demand to implement it.

The report, “AI in Finance: Bot, Bank and Beyond,” was released Monday by Citi Global Perspectives & Solutions (Citi GPS), a thought leadership division of the banking giant. In addition to insights from Citi’s AI experts, the report also includes interviews with leaders in the financial technology and regulatory technology industries.

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