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AI will transform finance, boosting profits and automating up to half of jobs, says Citi. The report finds 54% of banking jobs highly automatable and 12% augmentable by AI. AI is in a proof-of-concept stage but is rapidly advancing.

According to a survey conducted by NTT Data, Generative AI is playing a crucial role in driving the transition of banking applications to the cloud, as reported by nearly two-thirds of industry professionals.

JPMorgan Chase CEO Jamie Dimon is facing criticism from shareholders for failing to provide enough detail about the bank's mammoth technology spending plans and the decision to launch a digital-only bank in the UK, according to the Financial Times.

Source: Dynatrace

Software intelligence company Dynatrace (NYSE: DT) today announced TSB Bank is using the Dynatrace platform to accelerate innovation as it expands digital services for its customers.

Source: Mendix

Mendix, a Siemens business and the global leader in enterprise low-code, released a survey showing that, despite being one of the first sectors to embrace digitalisation, the financial services industry is still mired down with complex processes and inadequate tools that are hindering its growth.

Regulators in France and New York have struck an agreement that will make it easier for their fintech firms to enter each other's markets.

Financial services companies in North America could unlock up to US$140 billion in productivity gains and cost savings by 2025 if they employ new technologies that help improve the efficiency and effectiveness of their workforces, according to a recent study by Accenture.

Automation Anywhere, a global leader in Robotic Process Automation (RPA), announced that it has received $290 million in Series B funding at a post money valuation of $6.8 billion.
The funding was led by Salesforce Ventures with additional funding from existing investors, including Softbank Investment Advisers and Goldman Sachs.

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