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AI set to revolutionize global banking, boosting profits by $170 billion by 2028: CITI report

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The report highlighted AI’s role in combating financial fraud. While countries like the European Union, China, and Singapore have emerged as early adopters of AI regulation in finance, the United States has taken a cautious approach, lagging behind in regulatory initiatives. India, on the other hand, has shown a fluctuating stance on AI governance.

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