Citi CEO says AI will reshape and create jobs amid 3,500 tech layoffs in China
Citigroup CEO Jane Fraser has acknowledged that AI is transforming the nature of work while also generating new job opportunities. She described the bank as engaged in two parallel AI efforts: embedding the technology into business models for revenue growth and managing its workforce implications. Fraser emphasized that AI has the potential to enhance human capabilities rather than simply replace workers. This comes after Citigroup cut 3,500 technology roles in China as part of a wider global restructuring aimed at improving operational efficiency and profitability.
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