How will AI change the banking sector? – ABC, listen

It’s already difficult to talk to a real human in a bank or on the phone, and if that frustrates you, you’d better take note of what’s quietly happening in the banking sector right now.

This week Bendigo Bank announced an agreement with Google to use Gemini Enterprise AI to assess loan applications and detect fraud. In August, the Commonwealth Bank announced that OpenAI would “make advanced AI available to customers and employees.”

This comes as the federal government announces it will establish an artificial intelligence security institute to assess new capabilities and assess the risks of the technology.