Has anyone been to the summit early this week or watch it online? It was organised by citi venture and tech investment banking, I skim through the videos and it seems quite comprehensive, dare I say impressive. What is your view on this objectively? Thank you.
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Whoever wrote that article definitely has the inside track.
The systems in Citi are stone age. Even worse is how badly they feed information to each other. So much data gets lost, corrupted, or is never sent in these flows.
OPS are allowed enter all sorts of cr-p in some places which causes blow ups down stream.
This is what leads to many of the regulatory fines and consent order problems.
The attempts to band aid this has been going on for years, and it still fails.
But AI...that will be easy. LOL.
https://www.efinancialcareers.com/news/citi-stands-accused-of-attempting-to-implement-ai-on-the-back-of-excel-spreadsheets
@1yor+1tNWNvle - and I agree with you and the conflicting information, bad system VS seemingly well put new tech, is what puzzles, thus I want to see some objective opinions and evaluations. Thank you.
AI is a great talking point in Citi. You can be vague and speculative as you like. Talk a great game and know deep down that the bank doesn't have the means to execute it.
We can't even fix the cr-p systems that we've been in charge of for years, after years of trying. There are bug lists going into the thousands on all of them.
Every year the bank can only afford to invest in a small number of enhancements. The feature request lists are massive and 5% of them get funding approval in a given year.
Yet, somehow, we're going to be able to execute on a futuristic, leading-edge technology...and keep making budget and staff cuts.
Citi thinks GenAI is the solution to their problems lol. Incompetent "MDs" hoping a genie in the computer can get them out of their mess.
Is this supposed to be a post to fake highlight how great Citi is and the wonderful things the company is (NOT) doing? Nothing is impressive about Citi right now. They need to focus on getting consent order cleaned up not on GenAI. Nice try.
Yes. Agree was very comprehensive. For those already with high interest in this space, the summit provided a boost to fuel the interest.