Australia markets closed
  • ALL ORDS

    7,664.20
    -31.00 (-0.40%)
     
  • ASX 200

    7,392.60
    -24.80 (-0.33%)
     
  • AUD/USD

    0.7374
    -0.0024 (-0.32%)
     
  • OIL

    73.43
    -0.19 (-0.26%)
     
  • GOLD

    1,831.20
    -4.60 (-0.25%)
     
  • BTC-AUD

    52,741.04
    -2,157.41 (-3.93%)
     
  • CMC Crypto 200

    924.16
    -6.20 (-0.67%)
     
  • AUD/EUR

    0.6194
    -0.0024 (-0.38%)
     
  • AUD/NZD

    1.0525
    -0.0021 (-0.20%)
     
  • NZX 50

    12,594.52
    -134.33 (-1.06%)
     
  • NASDAQ

    15,048.36
    +30.26 (+0.20%)
     
  • FTSE

    7,015.01
    -63.41 (-0.90%)
     
  • Dow Jones

    35,084.53
    +153.60 (+0.44%)
     
  • DAX

    15,508.88
    -131.59 (-0.84%)
     
  • Hang Seng

    25,961.03
    -354.29 (-1.35%)
     
  • NIKKEI 225

    27,283.59
    -498.83 (-1.80%)
     

CommBank pushes for Artificial Intelligence adoption

·1-min read
Exterior of a CBA branch, close up of a woman's eye and technology
CBA has teamed up with the Australian Government to assess the ethical use of artificial intelligence in Australia (Source: Getty)

As part of an Australian Government pilot program, Commonwealth Bank is assessing the ethical adoption and use of Artificial Intelligence (AI).

CBA is sharing its insights into how it has employed AI within its own business to help promote the uptake around the country.

CBA’s Chief Decision Scientist, Dan Jermyn said the bank was proud to support the Government on its national pilot.

Jermyn believed it was a good opportunity to share general learnings and experiences about AI, as well as identify opportunities for potential future industry improvements.

“CBA regularly uses AI to deliver features and experiences that are highly personalised, easy-to-use and add value for customers during every interaction,” Jermyn said.

“It was incredibly valuable collaborating with the Government and other businesses on testing Australia’s national AI ethics principles in various situations.”

CBA is one of six organisations that has been working with the Government since 2019 to better drive the adoption of ethical and responsible AI in Australia.

“Given the importance we place on using AI technology and the investment we’ve made into AI systems, participating and contributing to the government pilot was an easy decision for us,” Jermyn said.

“We see the government’s AI ethics framework as being essential when developing complex AI systems to help ensure AI is being used responsibly to improve financial wellbeing of customers and communities.”

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting