With the rapid development of artificial intelligence (AI) technology, its impact on the job market has always been a hot topic. Recently, a report released by Citigroup in the United States revealed the disruptive potential of AI in the financial industry and the potential changes it may bring to job positions. This article will delve into this phenomenon and analyze the impact of AI on the future development of the financial industry.

The Automation Potential of the Financial Industry

Citigroup pointed out in its "AI in Financial Services" report that the financial industry, especially banking, insurance, and capital markets, will face an automation potential of up to 54%, 48%, and 40% respectively. This data far exceeds other industries, indicating that the financial industry will be the most affected by AI automation.

Technological Transformation and the Evolution of Job Positions

Although AI technology may replace some traditional positions, historical experience tells us that technological progress is often accompanied by the emergence of new job opportunities. For example, in the 1950s, the manufacturing industry in the United States absorbed 30% of employment, and by 2020, this proportion dropped to 8%. At the same time, the employment proportion in the financial industry increased from 4.1% to 5.8%, a 40% increase.

The Non-linear Relationship between AI Technology and Employment

Citigroup's report also emphasizes that the development of AI technology does not necessarily lead to a reduction in the total number of employees. On the contrary, financial institutions may need to hire more AI managers and compliance officers to ensure that the use of technology complies with regulations. In addition, when employees use AI tools, they will also take on the responsibility of managing AI agents.

Technological Advancement and Value-added Services

Technological progress does not always lead to layoffs. For example, the introduction of ATMs did not reduce the number of bank tellers, but instead promoted the growth of the financial industry. Similarly, the popularity of spreadsheets did not reduce the number of jobs in the bookkeeping and accounting industry, but allowed practitioners to focus more on value-added services such as analysis, forecasting, and strategy.

Artificial Intelligence: A Profit Catalyst for Financial Institutions

Citigroup's Chief Technology Officer, David Griffiths, believes that generative AI has the potential to completely transform the banking industry and improve profitability. The report predicts that by 2028, the total profit of the global banking industry may increase by nearly $170 billion due to the impact of AI technology.

AI Practices of Top Banks

Some top banks have already begun to use AI technology to improve efficiency and profitability. Citigroup has equipped programmers with AI tools and uses AI to quickly review regulatory proposals. JPMorgan Chase actively recruits AI experts, and CEO Dimon believes that technology can reduce working time to 3.5 days a week. Deutsche Bank and ING are also using AI technology to optimize portfolio management and identify potential non-performing loans.


The impact of artificial intelligence on the financial industry is profound, as it may not only change the composition of job positions but also become a catalyst for financial institutions to improve profitability. In the face of this transformation, financial institutions and practitioners need to actively adapt, seize the opportunities brought by AI technology, to achieve sustainable development of the industry.