Can customers trust how banks are using AI? | The Business | ABC NEWS

ING Australia's chief executive, Melanie Evans, says how the banking sector implements and uses artificial intelligence will be crucial to whether Australians warm to the technology. Melanie Evans' comments follow a warning from Australia's corporate regulator that the banking sector's use of cutting-edge technology can't leave "customers bleeding". In this interview with The Business, Melanie Evans says while Australian banks have been using AI for quite some time, they haven't done a spectacular job at communicating all of the benefits. She says the banks do understand their responsibilities as caretakers of customers' personal data such as wealth information and insurance, and that banks' processes on governance and security are critical to whether Australians trust in the technology can grow. She says the sector heard ASIC's call that it must be proactive in letting customers know when a better banking product or service is available to them.
#ABCBusiness

Subscribe: http://ab.co/1svxLVE

ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.

For more from ABC NEWS, click here: https://ab.co/2kxYCZY
Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1

Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2
Like ABC NEWS on Facebook: http://facebook.com/abcnews.au
Follow ABC NEWS on Instagram: http://instagram.com/abcnews_au
Follow ABC NEWS on X (Twitter): http://twitter.com/abcnews

Note: In most cases, our captions are auto-generated.

#ABCNEWS #ABCNEWSAustralia