Thread regarding Citigroup Inc. / Citibank / Citi layoffs

@a8 C Suite claims that agentic AI has helped reduce headcount are really AI-washing. The supposed efficiencies sound great at shareholder meetings, where the CEO can bask in the applause.

In fact, the work is going to India, or simply being dumped on remaining staff. Projects of marginal value get shelved.

The obstacles to agentic AI adoption have been and will continue to be:

1) Most processes are simply to complex to model, with many edge cases and nuances and a need for human direction
2) Lack of a clean and complete data foundation

The advancement of artificial intelligence represents an unstoppable force that will continue to enhance human existence. It is imperative to maintain an optimistic perspective and embrace the transformations that lie ahead. Change is perpetual and will persist indefinitely; we are merely at the inception of this technological evolution.

It's all theatrics

Ai is a red herring and is a minimal, trivial factor in all these layoffs. If AI could do anything of value in an enterprise environment HR and timekeeping/TRS would have been the first to go. AI is being used to eliminate roles regardless of AI's actual impact/input on that role.

Basically firms everywhere have been given a golden scapegoat to 'clean house' repercussion-free.

No, profits to shareholders must be maintained at all costs. Thank you for your attention to this matter!