A top Citi banker warns AI could mean a 'tragic end' for capitalism if we don't act now

Jay Collins

Daniel Terna

For longtime Citi banker Jay Collins, the rise of AI and robotics represents a threat to the future of capitalism that can't be ignored.

Collins, who is Citi's group chairman of the public sector, has spent more than three decades advising government officials during times of crisis and financial duress.

With AI and robotics, Collins sees a challenge to capitalism that policymakers and business leaders must address head-on.

"We have to tweak it, remodel it...