Westpac, a leading Australian bank, is exploring possible use cases for generative AI technology and factoring in ChatGPT’s capabilities into its cyber security planning. The bank’s Chief Information Security Officer, Richard Johnson, stated that this technology is not the last advancement in artificial intelligence that his team has to secure.
Johnson believes that it is necessary to understand and embrace this technology while ensuring it is secure and robust. Westpac is currently experimenting with generative AI to determine how it can be safely leveraged.
Johnson sees opportunities for the bank if the technology is used correctly, especially in improving cyber defenses.
However, he acknowledged that associated risks with AI and ChatGPT, in particular, require appropriate security settings to mitigate attack risks. Westpac pays close attention to the evolution of these technologies and adapts its controls to ensure the protection of its business and customers.
