The Commonwealth Bank of Australia is currently evaluating the risks associated with the use of conversational AI chatbot ChatGPT. The evaluation is to determine the reliability of the Chatbot. The bank’s Chief Data and Analytics Officer, Andrew McMullan, recently spoke at a Trans-Tasman Business Circle event. He highlighted the challenges involved in understanding what generative AI is drawing from to produce answers to questions.
McMullan stated that the bank is highly “cognisant” of the potential issues that may arise from using ChatGPT. For example its accuracy and reliability concerns. The Bank aims to address the challenges and determine how to use AI within its operations through the evaluation process.
Mc Mullan states, “Everything that’s ever been digitised and all the ‘ChatGPTs’, they’re learning on data. That could be potentially biased in terms of when it was written. The narrative that was around at that time.
Bank is also using AI for monitoring IT systems
Moreover, Mullan said, at CBA the organization is highly focused on fully understanding the use cases.We have our own policies [for experimentation and use].”
Apart from customer service, the bank is also using AI for monitoring IT systems. It helps reduce duplication of data. McMullan highlighted the bank’s ongoing investment in academia and skills development to work with AI.The bank is training employees to become engineering, analytics, and AI professionals to serve customers better.
McMullan expressed excitement about the potential of AI to improve customer experience. It is to support Australians in the next 10 years. As society becomes more digitized, he believes that AI will play a significant role in delivering better customer experience. Additionally, support the growth of Australia as a whole.
McMullan said, “I always believe that the use of AI. Also, Any advancing science or technology is a representation of the culture of an organization.”