Saturday, June 15, 2024

NAB plots major AI strategy to roll out in three key areas

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National Australia Bank has identified 20 use cases for generative artificial intelligence across the lender, including identifying the seriousness of customer complaints, assessing trust deeds used to back loans and tailoring messages sent to customers.

Days after the prudential regulator gave the green light for banks to deploy generative AI with proper oversight, NAB said it was piloting many deployments, including using large language models developed by OpenAI. This comes after leaders of various business units costed applications and shifted investment spending from other areas.

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