CBA chief Matt Comyn says Australia must retain economic value of AI

Commonwealth Bank of Australia CEO Matt Comyn said Australia must keep more of the economic value created by AI in the country and that regulation should keep pace with the technology. CBA is rolling out AI across its banking portfolio and has launched an AI chat in its app for selected customers. Australia is preparing broad AI laws to take effect from early 2027.

• CBA launched an AI chat in its banking app for selected customers
• Australia is preparing AI laws to take effect from early 2027
• RBA cash rate was raised to 4.6%, a 15-year high