Artificial intelligence in mind as Commonwealth Bank develops future tech

Commonwealth Bank of Australia is developing artificial intelligence technology to help with cyber security, fraud detection and regulatory compliance, in a sign banks are attempting to put the power of big data to use in reducing risk. CBA's chief information officer David Whiteing told The Australian Financial Review that so-called machine learning technology will be used to help the bank make sense of large sets of "noisy" data and alert management to areas requiring their attention. The work will come alongside a broader program of innovative projects investigating the possibilities of technologies such as the internet of things, quantum computing and the blockchain. "When you have a large data set and people can't see the signal for the noise, machine learning capability will sift out and provide you with the top five things that are worthy of further investigation," Mr Whiteing said.