The banking sector across the world is engaged in two simultaneous and critical races as artificial intelligence (AI) technology evolves at an unprecedented rate, says Jane Fraser, the CEO of Citi, America's third-largest bank. In an interview to the South China Morning Post (SCMP), Fraser admitted that there will be loss of jobs.

Jane Fraser says first race is to use technology to drive revenue growth; second one is to make sure the financial ecosystem is secure.

Jane Fraser says banks must race to turn AI into revenue while defending the financial system, and admits job dislocations are already underway.

The banking sector across the world is engaged in two simultaneous and critical races as artificial intelligence (AI) technology evolves at an unprecedented rate, says Jane…