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CBA, Coles, Canva, and Quantium Focus on AI Costs to Ensure Strategic Value

Australian Financial Review

ENRICHED

Details

Date Published
2 June 2026
Priority Score
2
Australian
Yes
Created
2 June 2026, 08:00 pm

Authors (1)

Description

From Commonwealth Bank to Coles and Telstra, some of the country’s major companies are working on making the use of artificial intelligence worthwhile.

Summary

Major Australian enterprises are shifting their AI strategies from rapid adoption to rigorous cost-benefit analysis, treating AI as a scarce resource rather than an infinite utility. This transition highlights a growing corporate awareness of the infrastructure and operational costs associated with scaling frontier models within highly regulated sectors like banking and retail. While the article focuses on economic productivity, it underscores the governance challenge of integrating high-capability AI systems into critical national infrastructure. The emphasis on human judgment as a counterbalance to automated tools reflects early-stage organizational efforts to manage the reliability and safety risks inherent in large-scale AI deployment.

Body

TechnologyAI SummitPrint articleJames EyersSenior ReporterJun 2, 2026 – 4.30pmThe country’s biggest companies are increasingly shifting their approach to artificial intelligence, worrying that a push to adopt automated tools as quickly as possible is sending costs soaring without real productivity gains.Commonwealth Bank chief executive Matt Comyn said the country’s largest lender was increasingly viewing AI as a “scarce resource” and use of the technology was conversely making human judgment more valuable.Loading...SaveLog in or Subscribe to 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 MoreAI SummitOpenAIAnthropicCommonwealth BankColes SupermarketsNine EntertainmentAIAFR LiveFetching latest articles