Banks Race to Build AI Defenses as Executives Warn of Powerful Threats

Citigroup CEO Jane Fraser warned on Saturday that financial institutions are in an urgent race to fortify their defenses against artificial-intelligence-powered cyberattacks, even as they simultaneously rush to deploy AI across their own operations. Speaking at the Qatar Economic Forum, Fraser said that artificial intelligence keeps bank executives awake at night, framing the moment as a defining tension: the same technology that powers next-generation banking also fuels next-generation fraud, money laundering, and cyberattacks.