# banks are embracing AI, the biggest technological upheaval to the world economy since the internet.

*fintech · news · 2026-04-08 · Reuters*

## Key points

- Citigroup uses AI to migrate data from legacy systems and automate coding and testing.
- AI has reduced client document review time for account openings from over an hour to 15 minutes.
- Citigroup is halfway through reducing IT contractors from 50% to 20% of its tech workforce.
- The bank's tech workforce is now around 50,000, with increased hiring of software engineers.
- Citigroup is standardizing AI tools across the company, focusing first on onboarding and compliance processes.

**Companies:** Citigroup
**Countries:** United States

[Read the full story on Reuters](https://www.reuters.com/business/finance/citigroup-says-ai-helps-speed-account-openings-systems-upgrades-2026-04-08/)

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