Citi invests over $2 billion annually to support its technology infrastructure, data foundation and AI initiatives.     

These investments span all five of Citi’s business lines including services, markets, banking, wealth and personal banking, Shahmir Khaliq, head of services at Citi, said during its Investor Day today.  

AI investment is yielding results at the $2.8 trillion bank, Khaliq said. He broke down these AI-driven efficiency gains: 

• An 80% reduction in document review time for client onboarding; 

• A 50% improvement in containment rates — the percentage of customer queries fully resolved through automated channels —  by driving faster resolutions and higher client satisfaction; 

• A 30% to 40% boost in developer productivity within the bank’s IT segment; and 

• A 25% reduction in work for customer service agents by using generative AI tools and instantly synthesizing data. 

Additionally, there is more opportunity for AI application on the sales side, Khaliq said. For example, Citi plans to use AI to streamline the 10,000 complex client interactions that occur annually, a move that could significantly reduce sales cycle times and improve client insights, he said. 

The bank’s Investor Day comes on the heels of other AI announcements, including the development of a virtual wealth management adviser in partnership with Google and the appointment of David Griffiths as group head of AI. 

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