ANZ, CBA, and AustralianSuper Use Generative AI to Prevent Fraud and Scams
Australian Financial Review
SKIPPED
Details
- Date Published
- 22 July 2024
- Priority Score
- 2
- Australian
- Yes
- Created
- 8 Mar 2025, 01:04 pm
Description
Banks and super funds deal with billions of data events every day, and are increasingly relying on artificial intelligence to detect hacking attempts.
Summary
Australian financial institutions including ANZ, CBA, and AustralianSuper are increasingly utilizing generative AI to combat fraud and cyber scams. By harnessing AI to analyze vast amounts of data and detect irregular patterns, these organizations aim to proactively identify and mitigate potential cyber threats. This application of AI signifies an important advancement in leveraging technology to enhance security measures across the financial sector. The article highlights the role of AI in safeguarding personal and financial data against sophisticated hacking attempts, contributing to discussions about improving cybersecurity frameworks. This focus, while significant for the industry, does not directly address catastrophic AI risks, remaining instead an important component of general cybersecurity efforts.
Body
TechnologyCyber securityPrint articleChristopher NiescheJul 22, 2024 – 8.30amSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginAustralian financial institutions are drawing on artificial intelligence to detect and repel increasingly sophisticated cyber hacking attempts.AI is being used to detect unusual behaviour and analyse millions of data points for suspicious activity.Loading...SaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreCyber securityAIAFR ReportsANZ BankCommonwealth BankAustralianSuperBanking productsScamsCyber SummitFetching latest articlesOlympic weightlifting is hard. This boss uses the 1pc rule to get it doneLucy DeanOut-of-control watch price rises give housing a run for its moneyKnow your craft: How the biggest airlines rate at the pointy endJun Bei Liu: How I learnt to speak upSally Patten and Lap PhanThe four actor ‘tricks’ giving executives more confidence‘We’ll fight’: Alex Waislitz on family battles and bad betsA last-chance tote bag and a groovy case for trumpetersEugenie KellyThis machine can bring out the creative streak you never knew you hadThis data-driven wellness retreat is a haven for high-flyersBillionaire Nicola Forrest appoints UBank boss to run family officePrimrose RiordanVictor Smorgon’s star fundie eyes 50pc returns for new fundForrest family powerbroker had alleged role in big Fortescue decisions