Bloomberg Talks Citigroup and Barclays CEOs Talk AI and Financial Services
Oct 28, 2025
Jane Fraser, CEO of Citigroup, and C.S. Venkatakrishnan, CEO of Barclays, dive deep into the transformative role of AI in the financial sector. Fraser emphasizes the operational benefits of AI and its potential to enhance personalization in banking while highlighting the growing importance of private credit. Venkatakrishnan shares insights on AI as a general-purpose technology with broad workforce implications and stresses the need for collaboration between banks and private lenders to adapt to the evolving credit landscape.
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AI Is A Long-Term Rewiring Force
- AI will rewire large parts of the global economy and financial services over the long term.
- It offers operational gains now and deeper business model and revenue changes later.
Three Domains Where AI Changes Banking
- AI creates three domains of change: operations, revenue (personalization), and risk.
- Each domain brings immediate benefits and new challenges banks must manage thoughtfully.
Execute AI Thoughtfully
- Execute AI thoughtfully and well across businesses to capture benefits and limit harms.
- Focus on disciplined implementation rather than debating whether AI will matter.