Citi is hoping AI agents will supercharge wealth advisors but there's still a memory issue standing in the way

"Citi recently unveiled 'Citi Sky,' a 24-hour AI-powered wealth advisor that will start getting rolled out this summer to certain clients. They'll be able to ask Citi Sky about personalized financial questions and market insights."

"Dipendra Malhotra, 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."

"Agents who have and remember continuous conversations with clients will help wealth advisors be more productive and sustain more relationships, Malhotra said."

Citi is investing heavily in AI technology for its wealth management division, introducing an AI-powered advisor named Citi Sky. This tool will provide personalized financial advice and market insights. Dipendra Malhotra, head of wealth technology, noted that current AI limitations include short-term and long-term memory. He emphasized that improved algorithms could enhance conversation continuity and client relationship management. The bank anticipates that these advancements will transform wealth management practices and increase advisor productivity.

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