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Jul 2024

Banks moving into AI, and lessons for Australian accounting firms

By: Odyssey General
Tags: AI, Australian Accountant, Banking

APRA recently warmed up to AI in the financial sector allowing banks to start adopting AI. APRA has allowed banks to experiment and adopt AI technology, noting the potential to reduce costs, improve customer service and boost shareholder returns. Internationally there has been a large investment by the banks in AI. Global bank CEOs say the rollout of AI will …