AI Could up Profits But Also Disrupt Banking: Citi Report

Artificial intelligence has the capacity to spur great disruption in the financial sector, according to a study by Citibank, which suggests half the jobs in banking could eventually be automated, according a report by Marketplace.

“Time-consuming financial tasks likely to be delegated to AI in the future includes copying numbers from one computer system to another and synthesizing a bunch of financial information quickly, the report said, adding that Sophia Bantanidis, one of the authors of the new report, said that while some jobs will disappear, new jobs will also be created, such as ones to ensure the artificial intelligence is getting correct data to spit out the right results.

Read the full report: Marketplace.