CBA to speed up AI rollout as it fights bank tech war
The largest Australian bank says that it will continue to invest in the United States despite “volatility and short -term noise”, as it is preparing to send hundreds of employees to its new technological hub based in Seattle to speed up the launch of artificial intelligence through its digital platforms.
The Commonwealth Bank has increased technological wars by instituting a technological hub dedicated to Seattle, Washington, near the headquarters of the Giants of Amazon, Apple and Microsoft technology, trying to expand its guide on its adoption of artificial intelligence (AI).
The executive technology of the CBA Gavin Munroe group and the CEO Matt Comyn are in Seattle this week to launch the technological hub. Credit: CBA
“We have worked on many of the bases we think will be important, but we will continue to bring things to the market,” said the head of the CBA Matt Comyn of Seattle.
“We are also working on some larger and more demanding areas, such as our entire approach to the design and development of software, thinking about how we deal with some of the most demanding problems in the banking sector, such as fraud, scam, cyber [and] Financial crime, how to offer the best digital experience on a continuous basis, how to automate and support our customers in their most important experiences with us. “
In the next 12 months, 200 members of CBA staff will revolve through the technological hub to learn from the research society to anthropic Amazon, to the H2O and Microsoft generative.
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Australian banks have heavily invested in technology, in particular the IA, looking for an advantage for their rivals as part of a tectonic change in the banking sector. Innovations of artificial intelligence and automatic learning should transform applications of customer and loan service, making internal processes more efficient.
In 2024, the main technological costs of the four banks increased from 15.2 percent to $ 8.9 billion, according to a KPMG analysis of the results. The global technological report of 2023 of professional services has found that 61 % of the leaders of banking technology believe that Ai, Ai and generative machines learning will be fundamental for business, but the industry has so far been cautious in its launch of technology.
Comyn said that it was essential for the bank to continue investing in the United States to expand its technological advantage despite the “Short -term volatility” From the widespread tariff policies of President Donald Trump, which economists have widely described as inflationary.
