Citi(C) ZACKS·2024-10-31 17:20Core Insights - Citigroup, Inc. has entered a multi-year agreement with Google Cloud to enhance its digital strategy through cloud technology and artificial intelligence [1] - The collaboration aims to modernize Citigroup's technological infrastructure and improve both employee and client experiences via cloud-based applications [1] Citigroup's Collaboration with Google Cloud - Citigroup will transition various workloads and applications to Google Cloud's secure and scalable infrastructure, enabling superior digital products and expedited staff workflows [3] - The partnership will allow Citigroup to utilize high-performance computing (HPC) capabilities to execute millions of computations daily in its Markets division [3] Generative AI Capabilities - Citigroup plans to leverage Google Cloud's Vertex AI platform to implement generative AI capabilities across the organization, enhancing developer toolkits, document processing, and customer service [4] Management Remarks - Tim Ryan, Head of Technology and Business Enablement for Citigroup, emphasized the mission to modernize infrastructure for improved client service speed and agility [7] - Google Cloud CEO Thomas Kurian highlighted the partnership's potential to drive enterprise-wide innovation in the financial services industry through cloud and AI technology [8]