regulatory

Financial services are shunning AI due to job and regulatory fears

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Financial services are failing to successfully implement artificial intelligence, European fintech executives claim, even as evidence mounts that the hyped technology will increase productivity and reduce costs. Fear of job losses, regulatory concerns and institutional inertia are some of the factors preventing bankers from fully embracing the systems underlying products like ChatGPT. “The big banks … Read more

Citi, HSBC and Barclays all want their bankers back in the office five days a week due to ‘new regulatory policies’

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Citigroup Inc., HSBC Holdings Plc and Barclays Plc are ordering more executives to report to the company’s offices five days a week as regulatory changes make it harder for Wall Street to allow working from home. Citigroup will need about 600 U.S. employees previously eligible to work remotely to commute to the company’s offices full-time, … Read more