Citizen Bank aims to re-skill your workforce while exploring generative AI use cases within contact center, advisory and coding systems.
As the $222 billion The bank invests in AI, is looking at its workforce to execute its initiatives instead of looking outside, beth johnsonCitizens Bank chief experience officer, said Bank Automation News.
“If we can give [our team] better tools to answer questions faster, if we can train them faster, make them more efficient,” that would add value to the bank’s operations, Johnson said.
For example, within branches, he bank aims to train its workers to advise in addition to working as a cashier, Michael RutledgeCitizens Bank’s chief information officer, said PROHIBITION.
“We’ve also pulled some people out of the branch and are training them as engineers,” Ruttledge said. “We have an academy program where we take people who are not tech but have the aptitude and the ability to be able to learn that and grow that.”
The bank is also looking to train employees who have a degree in computer science or data science but did not go into that field, he said.
The impact of AI on the workforce
While a recent Challenger, Gray and Christmas report indicated that almost 4000 jobs were eliminated in May 2023 due to the increasing use of AI in companies, experts believe that it is too early to say how AI will affect the job market.
“Technology will increase the productivity of banks and the workforce at the same time, and when we see a change, there is always an incredible increase in the amount of work they have to do to actually implement the change.” charles youngQuantumBlack Partner, McKinsey and companyThe ‘s artificial intelligence arm, said PROHIBITION.
Increased productivity may allow banks to double the customer experience or enter new business, Giovine said.
“I think next year will be mostly experimenting with technology, updating risk frameworks, and then adding guardrails to essentially prevent misuse, prevent audit risks that we know these models are capable of,” he said. “I don’t expect drastic changes, but then as it becomes more common, more tested and more secure, banks may take different stances.”