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Australia – CommBank and OpenAI embark on Australia-first strategic partnership to advance AI solutions – CBA

Source: Commonwealth Bank of Australia (CBA)

CommBank and OpenAI team up to explore cutting edge generative AI-enabled banking services for customers

CommBank today announced a multi-year partnership with OpenAI to bring advanced AI to customers and employees, becoming OpenAI’s strategic banking partner in Australia.

CommBank and OpenAI engineers will work together to explore advanced generative AI solutions that aim to strengthen scam and fraud detection and deliver more personalised services for CommBank customers.

As part of this arrangement, CommBank employees will progressively get access to OpenAI’s advanced AI tools including its enterprise grade AI solution, ChatGPT Enterprise. CommBank is also investing in comprehensive training and upskilling programs to increase AI capability and embed the responsible use of AI across its workforce.

“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,” said Matt Comyn, CEO of Commonwealth Bank.

“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,” added Matt Comyn.

“CommBank is one of Australia’s largest institutions, serving millions of people and businesses every day,” said Sam Altman, CEO of OpenAI. “We’re excited to work together to put advanced AI into the hands of more Australians, making it more useful and impactful for people and businesses across the country.”