Globally, banks could increase their profits by $170 billion thanks to artificial intelligence, according to a recent study by Citi.

According to 90 major financial institutions (including 71 banks) surveyed worldwide by Citi, the banking sector could gain up to an additional $170 billion by 2028 due to AI.

"The banking sector's reliance on data is immense," Citi highlights, explaining that AI will have a particularly strong transformative power in this area.

The potential gains make the banking sector optimistic, especially in Europe, where profitability has been under pressure for years.

Although the $170 billion figure is theoretical, it is based on the fact that the sector had global profits of $1.44 trillion in 2023. Excluding AI, Citi estimates these profits will reach $1.82 trillion by 2028, based on expected sector growth. However, 93% of businesses expect productivity gains linked to AI, bringing total profits close to $2 trillion.

But this scenario might be overly optimistic. "Remember, banks' customers, competitors, and regulators will also have AI in their toolkits," warns Citi. The trend suggests that customers will become more demanding, prices will drop, and competition will intensify.

Supervisory committees, also better equipped, will be stricter in their checks.

According to Citi, banking and insurance companies are the two sectors most likely to be affected at a human level. About two-thirds of work hours in the sector (66% for banks, 62% for insurance) show "great potential" or "very great potential" for automation. In terms of workforce numbers, "23% of today's jobs will change," estimates the American bank.

"Will there be disappointment?" ask the study's authors, noting that "the gap between 'hype' and mass production remains significant."

"The banking sector remains a heavy industry designed to incorporate AI. The challenge for IT teams will be to achieve this in an industrial manner," explains a banking source.

However, AI models are usually intended for simpler cases. When a situation becomes more complex, humans take over again.

The development of AI is not just technical. Many experts already emphasize its ethical approach. For example, Credit Mutuel Arkham announced this week that its "data office" received the "Trusted AI" certification from the National Laboratory of Metrology and Testing, which Credit Agricole also obtained.

AI encourages the creation of new professions and increases demand for specialists in the market, according to a study conducted by Microsoft with SWG. The study, titled "Young People and Artificial Intelligence," showed that AI and technological innovation have made industrial and management engineers, marketing specialists for goods and services, physicists, market analysts, psychologists, and architects the most sought-after professionals.

Microsoft itself, which has launched an AI Lab, offers over 1,300 opportunities for various professionals: from senior machine learning engineers in Oregon, to cloud specialists in Athens, to technology directors in Toronto, and senior sales specialists in Milan.