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Citigroup is turning to artificial intelligence to bolster its reach towards new clients, its financial advisors, and expand its services in the wealth management industry.  Through the bank’s wealth arm, Citi Wealth, the unit is planning to launch its latest AI tool, named Citi Sky, aimed at tackling how its clients plan and execute their financial decisions.   The tool, which Citi says is an “always-on AI-powered” team member, was created using technology from Google Cloud and Google DeepMind and will provide more “intuitive” and “personalized” wealth solutions to clients over time, as the rollout of the AI agent has not started yet.  Citi plans to make Sky available to its Citigold clients starting this summer.  Sky provides financial advisors with specialized financial guidance for its clients, which includes various prompts for bank certificates of deposit maturity circumstances.   The tool, which takes on a human-like feature, will leverage Google DeepMind’s avatar technology and Gemini’s live audio and video models to deliver tailored advice to advisors.  “At the center is a universal question: ‘Am I financially ok?’ Citi Sky answers that in real time – bringing together insight and execution in a way that is simple and clear,” Andy Sieg, head of Citi Wealth, said. “It doesn’t replace our advisors – it makes them more powerful, extending their reach and deepening their impact.”  Sieg also added that in light of its push towards agentic technology, the bank does plan to add more advisors in the coming years.  Citi Wealth’s latest announcement comes after the unit unveiled several new technology capabilities earlier this month. Among them is its Portfolio Intelligence, a tool that’s designed to provide its wealth clients with portfolio management.  Citigroup, which reported its first-quarter earnings last week, stated that its wealth and retail banking division increased by 11% year-over-year to $3.1 billion in revenue, up from $2.8 billion, which was reported for Q1 of 2025.  However, the division had the lowest return within the bank, 10.8% over tangible common equity, Citi stated. During the quarterly call, Citigroup’s CEO, Jane Fraser, emphasized that the firm is primarily focused on organic growth and has ultimately ruled out M&A activity of other wealth management firms or banks.  Fraser stated, “I want to be crystal clear, we are only interested and focused on organic growth. Period, end of story.”  The bank also reported revenues of $24.6 billion, which is roughly 14% year-over-year, and was mainly driven by market volatility, making it the firm’s highest quarterly revenues in over a decade. The post Citigroup’s Wealth Unit to Launch AI Agent ‘Citi Sky’ appeared first on Connect Money.

Source: https://www.connectmoney.com/stories/ci ... -citi-sky/