By Jacob Shteyman
Publication Date: 2026-01-26 16:30:00
The regulator warns Australians need to become more financially literate or risk being exploited by an explosion of artificial intelligence scams and financial product advertisements.
Given the breathtaking pace of technological change, Australia is unprepared for the disruption that AI will bring, says outgoing Australian Securities and Investments Commission chair Joe Longo.
Financial regulators are closely monitoring the increasingly ubiquitous use of AI agents capable of performing tasks autonomously with minimal human effort.
While the rapid adoption of agent-based AI is a potential productivity benefit for businesses, it could compound harm for consumers by exploiting things like behavioral biases and increasing the risk of fraud, ASIC warned in its 2026 emissions outlook.
Mr Longo said it was not possible to keep up with technological change.
