A Citigroup report reveals that 54% of banking jobs could be automated, with AI potentially augmenting another 12%. This trend underscores global banks’ shift towards AI to boost productivity and cut costs, projecting a $170 billion industry benefit by 2028. Citigroup itself is training 40,000 coders in AI, using generative AI for regulatory tasks and enhancing cybersecurity. Other major banks like JPMorgan and Deutsche Bank are also ramping up AI initiatives for tasks from client services to risk management. Despite automation, Citigroup suggests AI adoption may not shrink jobs but rather create new roles like AI managers and compliance officers.