Australia’s Commonwealth Bank (CommBank) has entered a significant multi-year partnership with OpenAI, enabling its employees to utilize ChatGPT Enterprise. This collaboration focuses on integrating advanced generative AI solutions to enhance fraud and scam detection while offering more personalized customer services.
In addition, CommBank is committing to extensive training and upskilling initiatives to boost AI proficiency among its workforce, promoting responsible AI practices throughout the organization.
Last year, the bank collaborated with Amazon Web Services to establish an in-house “AI Factory” aimed at accelerating generative AI adoption. Since then, CommBank has been actively incorporating AI into its range of products and services.
CEO Matt Comyn stated, “Equipping our people with the most advanced AI tools and capabilities is a key objective of this strategic partnership. We will continue to invest in our team’s AI skills to enhance customer support and experience.”
With this initiative, CommBank joins other leading financial institutions, including BBVA, Santander, NatWest, BNY Mellon, Morgan Stanley, and Nubank, in leveraging OpenAI’s advanced Large Language Model, ChatGPT.