Citi Charts Path For Thousands of Coders To Experiment With AI (bloomberg.com) 10
Citigroup is planning to grant the majority of its over 40,000 coders access to generative artificial intelligence as Wall Street continues to embrace the burgeoning technology. From a report: As part of a small pilot program, the Wall Street giant has quietly allowed about 250 of its developers to experiment with generative AI, the technology popularized by ChatGPT. Now, it's planning to expand that program to the majority of its coders next year. The bank and its rivals have slowly begun experimenting with the technology, which created waves last year when ChatGPT made its debut and showed how generative AI can produce sentences, essays or poetry based on a user's simple questions or commands. The technology typically creates this new work after being trained on vast quantities of pre-existing material.
Increasingly, bank executives argue artificial intelligence will make their staffers more efficient. Like when federal regulators dropped 1,089 pages of new capital rules on the US banking sector, Citigroup combed through the document word by word using generative AI. The bank's risk and compliance team used the technology to assess the impact of the plans, which will determine how much capital the lender has to set aside to guard against future losses. Generative AI organized the proposal into pieces and composed key takeaways, which the team then presented to the outgoing treasurer Mike Verdeschi.
Increasingly, bank executives argue artificial intelligence will make their staffers more efficient. Like when federal regulators dropped 1,089 pages of new capital rules on the US banking sector, Citigroup combed through the document word by word using generative AI. The bank's risk and compliance team used the technology to assess the impact of the plans, which will determine how much capital the lender has to set aside to guard against future losses. Generative AI organized the proposal into pieces and composed key takeaways, which the team then presented to the outgoing treasurer Mike Verdeschi.
2024 Headline (Score:1)
Time Magazine will designate AI (Score:1)
as "person of the year" (for good or bad). Mark my word.
Re: (Score:1)
Gender is none of gov's business. Get GOP out of our pants!
Most Interesting Part (Score:3)
For me, the most interesting part is to hear that CitGroup has over 40,000 coders. That's astonishing.
Wonderful News (Score:2)
2025 headline (Score:3)
Just going to get more common (Score:1)
Since code assist AI can be a force multiplier for your own intelligence (it really matters how much you can think of to do with AI) and can improve productivity, using AI to assist in coding is going to just get more and more common. It won't be a story soon, most places will assume you know how to use it to help you in your job instead of it being restricted.
As far as IP issues, or sales numbers, secret stuff, etc., that's where the inhouse AI dataset comes in, that never leaves your compute center. Ev