CosmicTaco
CosmicTaco

AI Boosts Efficiency and Cuts Fraud at Commonwealth Bank

  • Commonwealth Bank of Australia reports a 30% reduction in fraud and a 40% decrease in call center wait times due to generative AI tools.
  • Mortgage pre-approvals now take as little as 10 minutes; 50+ AI use cases in development.
  • AI helps issue daily suspicious activity alerts, potentially increasing from 20,000 to 35,000.

Source: Bloomberg

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1mo ago
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