CommBank has announced its partnership with OpenAI in order to improve generative AI-enabled banking services for Australian businesses and customers.
Following this announcement, the institutions will work together in order to explore improved generative AI solutions that aim to strengthen scam and fraud detection, as well as deliver a more secure and personalised suite of services for CommBank customers.
In addition, as part of this arrangement, CommBank employees will progressively get access to OpenAI’s AI tools, including its AI solution, ChatGPT Enterprise. CommBank is also currently investing in comprehensive training and upskilling programs in order to increase AI capability and embed the responsible use of AI across its workforce.
More information on the CommBank x OpenAI partnership
According to the official press release, the strategic collaboration with OpenAI will reflect on the shared commitment to bringing optimised capabilities to Australia, as well as exploring the manner in which AI can improve customer experiences, protect customers, and unlock new opportunities for Australian businesses. At the same time, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Furthermore, CommBank is set to continue the process of investing in its employees and AI in order to optimise the manner in which customers are supported, while also building their experience and skills. The institutions will work together in order to allow Australian individuals to benefit from improved AI, making it more useful for both clients and businesses across the region.
