AI not cost effective.

Reports have shown that the average data center has a turn over of 7 years. After 7 years, you either add to, scale out or build a bigger better revamped datacenter. For AI, the estimated average is every 2-3 years at 1 billion (or more) each time.

Companies are now looking for ways to back out of it after already throwing 500 million or more into it without looking like it was a mistake. Dare I say they are using AI in order to try to figure out the best spin control to justify pouring money into AI and NOW trying to back out of it. LOL

Is or does Citi fall into this category? I dunno but I do know that other companies are pumping the brakes just a bit and are looking at exit strategies.

#AI #BusinessTransformation #CostCutting #Exit #Layoffs

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AI Hallucinations:

https://www.yahoo.com/news/us/articles/furious-judge-cancels-entire-trial-165715940.html

Even Lawyers have egg on their faces caught using absurd, gibberish. LOL!

Citi will be in the same situation after submitting absurd, hallucinated filings and reports to Bank Regulators.

The lawyers got sanctioned, fined and suspended from appearing in courts for 2 years for any case.

"Lawyer, Kathryn Williams also attempted to absolve herself, arguing that the "in-house" AI research tool she used wasn't supposed to hallucinate cases either, an excuse that didn't sit much better with the judge, either.".

@am citi sky is going to be the biggest waste of money. High net worth customers are not going to want to talk to a glorified siri. Citi should know that already cuz all the credit card companies try to upsell their card with 24x7 personal concierge services. If people didnt value human interaction, things like that wouldnt exist. Same for statistics about people wanting to talk to an agent when dialing in rather than going through automated prompt. I look forward to seeing the “retirement” email announcement from AS once sky fails spectacularly and citi has dumped millions into yet another dumpster fire

Don't worry, they will just ask AI what to do about this situation and then do that.

Citi has to use and build AI because they signed something w the government promising they would. It all comes down to money. MONEY MONEY MONEY. They have stakes in the AI data centers. They don’t gaf if they’re destroying the planet why would they care if you lose your job to AI? “AI isn’t cost effective” etc etc the stuff we can say to make ourselves feel better does not matter. They have the money for AI even if it’s too expensive because they are taking chances on the long run. Will it take your job? Yeah…. One day. Maybe not today tomorrow or in 5 years but it will.

The funniest thing when I worked there was the people directing AI have no idea how to use it effectively, Citi Sky is a great example of that. It has the same appeal to gold customers as wealth builder did, they don’t want or need it. These MDs are clawing at scraps to build anything that puts a spotlight on them. Citi doesn’t innovate anything, they think AI will do everything but their like kindergarten kids playing with finger paint for the first time.

Thread regarding Citigroup Inc. / Citibank / Citi layoffs

AI not cost effective.

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