Commonwealth Bank of Australia is using artificial intelligence to resolve 15,000 payment disputes lodged by its customers every day – more than its call centres can handle – and says it has half a dozen other ways it can use the technology to cut costs and provide better service.
The country’s largest bank, and its chief executive Matt Comyn, outlined a vision for AI to staff and the public at a lengthy briefing on Thursday, suggesting there were at least another 50 uses that would be kept private.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com