Dipendra Malhotra<\/a>, the firm’s head of wealth technology, who was involved in developing the tool, said a current limitation for AI agents in the wealth management industry is memory, both in the moment and in the long term.<\/p>\n“One is short-term memory: how long can you have this conversation before you start hallucinations?” he asked while speaking on a panel on Tuesday for New York Fintech Week. New algorithms, he said, will likely help summarize conversations in real time, so that agents can talk for longer.<\/p>\n
“The second is the ability to have long-term memory, and that’s pretty much all conversations: all the clicks, all the things which we know about our clients, transactions,” he said, noting that advisors keep track of personal, financial, and political events, for example.<\/p>\n
Agents who have \u2014 and remember \u2014 continuous conversations with clients will help wealth advisors be more productive and sustain more relationships, Malhotra said.<\/p>\n
“That’s the Nirvana,” he said, noting that memory capabilities are rising. <\/p>\n
That kind of persistent awareness could expand the number of clients a single advisor can effectively serve, he adding that these tools are about “productivity and scale.”<\/p>\n
Malhotra said there are still plans to\u00a0hire more wealth advisors at Citi, a point that Sieg also made when announcing Citi Sky, which was developed with technology from Google Cloud and Google DeepMind.<\/p>\n
Across the wealth management industry, AI is being deployed to automate grunt work, personalize advice, and help advisors cover more clients. For example, Bank of America rolled out a tool that helps its advisors prepare for, conduct, and follow up on client meetings.<\/p>\n
Citi, like its Wall Street rivals, is also investing in generative AI <\/a>beyond its wealth business. CEO Jane Fraser said on an earnings call in January, for example, that GenAI tools had saved developers 100,000 hours a week with automated code reviews. The bank spent $2.3 billion on technology and communication in the first quarter of 2026, according to an April earnings presentation.<\/p>\n","protected":false},"excerpt":{"rendered":"Citi recently added a high-profile new wealth advisor to its team \u2014 and she’s AI-generated. Loading audio narration……\n","protected":false},"author":2,"featured_media":21341,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[10943,511,405,7537,2039,14938,2038,584,14941,14940,2194,14942,4012,752,14939,3815,4983],"class_list":{"0":"post-21340","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-agentic-ai","8":"tag-advisor","9":"tag-ai-agent","10":"tag-ai-agents","11":"tag-artificial-intelligence-agents","12":"tag-bank","13":"tag-certain-client","14":"tag-citi","15":"tag-conversation","16":"tag-dipendra-malhotra","17":"tag-example","18":"tag-google-cloud","19":"tag-head","20":"tag-last-week","21":"tag-tool","22":"tag-wealth-advisor","23":"tag-wealth-management","24":"tag-wealth-technology"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/21340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=21340"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/21340\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/21341"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=21340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=21340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=21340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}