Citibank is seeing high adoption as it deploys AI in nearly all its operations and expects the tech to drive productivity gains. 

Citi has brought products including its Payment Express solution and Citi Wealth Advisor Insights platform to market faster because of AI, Chief Executive Jane Fraser said today during Citigroup’s second-quarter earnings call. 

Fraser did not quantify the reduced to time market on the call.

“We’re applying what we learned about large-scale implementations to integrate AI into our businesses and functions wherever it makes sense,” she said. “Nearly nine out of 10 of our people are using our AI tools. That’s not only driving productivity and client experience, but also growth.” 

Fraser said investment in AI, semiconductors, data centers and related infrastructure is helping the economy and “driving some of the boldness,” in the United States and parts of Asia.  

“It’s a good environment,” Fraser said. 

The bank reported tech expenses of $2.3 billion during the second quarter, down 1% year over year. 

The $1.93 trillion bank has deployed AI for functions including: 

• Arc, an internal agentic AI platform, in April; 

• Google DeepMind Avatar, a client-facing agentic AI avatar; and  

• To reduce document review time for client onboarding. 

Investing in bottlenecks 

The New York-based bank is seeing investment opportunities in the AI buildout cycle, Fraser said. 

“AI is dominating a lot of the conversation,” she said about investment. “So, tech, data center, energy, defense, CapEx is accelerating. … Wherever there’s a bottleneck in that whole energy power, compute memory ecosystem, we’re seeing a lot of activity.” 

JPMorgan similarly provides financing for data centers and adjacent industries, Chief Executive Jamie Dimon said today during the $4 trillion bank’s Q2 earnings call. 

Citi also reported:  

• Net income of $5.8 billion, up 45% YoY; 

• Revenue of $24.8 billion, up 14% YoY; 

• Efficiency ratio of 57.4%, compared to 62.7% in Q2 2025; and 

• Headcount of 219,000, down 4.7% YoY. 

Citi recently announced the appointment of David Griffiths, former chief technology officer, as group head of AI. 

The bank also appointed Gonzalo Luchetti as chief financial officer after Mark Mason assumed a new role as executive vice chair and senior executive adviser in March. 

Shares of Citigroup Inc. [NYSE: C] were trading at $133 at market close today, down 5% from market open. Citi has a market capitalization of $227 billion.  

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