In 2025, the American Banker highlighted the surge of artificial intelligence (AI) initiatives in major banks like Citi and Wells Fargo, drawing significant reader interest. Citi commenced the deployment of agentic AI, automating tasks for its 40,000 developers through Cognition’s Devin agent, aimed at enhancing operational efficiency. This move coincided with an overall increase in AI spending across 80% of U.S. banks, focusing primarily on automation and cybersecurity enhancements. Wells Fargo is re-architecting its infrastructure to integrate agentic AI in core workflows, collaborating with Google to boost employee capabilities. Amid AI advancements, banks are tightening identity checks due to rising deepfake technology, posing new security challenges. A layered approach to authentication is necessary to combat these risks effectively. Moreover, Goldman Sachs and Capital One are preparing to incorporate self-driving AI agents that can operate autonomously, marking a pivotal shift in financial technology.
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