CBA signs OpenAI partnership to tackle scams and fraud
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The news: The Commonwealth Bank of Australia has become OpenAI's strategic banking partner in Australia after signing a multi-year partnership with the AI developer.
The context: In an announcement, CBA said it would work with OpenAI engineers to develop generative AI solutions to tackle scams and fraud, and improve the bank's customer experience.
As part of the deal, CBA staff will get access to OpenAI's advanced product suite including its enterprise version of ChatGPT. The big bank will also invest in equipping its workforce with AI skills and instruct them to use them responsibly.
What they said: “To be globally competitive, Australia must embrace this new era of rapid technological change. Our strategic partnership with OpenAI reflects our commitment to bringing world class capabilities to Australia, and exploring how AI can enhance customer experiences, better protect our customers, and unlock new opportunities for Australian businesses,” CEO Matt Comyn said in a statement.
“Equipping our people with the most advanced AI tools and capability is a key objective of this strategic partnership. We will continue to invest in our people and their AI proficiency so they can better support our customers, while building their skills and experience."
The source: Media release
