What does the research collaboration cover?
- This collaboration is part of a broader ambition by CBA to help lead in the development and deployment of responsible AI.
- The first pivotal research projects with MIT will be:
- Managing AI Risks – exploring how organisations respond to risks posed by AI and developing best-practice strategies to manage them effectively.
- Enabling Human and AI Collaboration – understanding how to avoid over or under-reliance on AI, to design AI-powered tools that support critical thinking and decision-making for employees.
- The projects will be led by the bank’s Behavioural Science team, in collaboration with MIT’s Dr Neil Thompson and Dr Renee Gosline, who have global experience in the field of the economic and business impacts of emerging technologies and human-centred AI.
Quote from Rodrigo Castillo, CBA’s Chief Technology Officer
“Our collaboration with MIT, one of the globally recognised research leaders in AI, marks an important step forward in our ambition lead in the responsible use of AI in financial services. The insights gained from these research projects, using MIT’s advanced modelling of AI’s economic impact and cross-industry effects, will help us design AI-powered solutions that deliver value for our customers, support long-term decision-making across the bank, and shape digital banking experiences.”
Quote from Will Mailer, CBA’s Head of Behavioural Science
“This space is fast moving and touches all aspects of business, the economy and society. To build and maintain a role as a trusted leader in AI in financial services, it’s important that CommBank is taking a human-centred approach and bringing together experts across technical, business and social science disciplines. The MIT-IDE helps us to accelerate our purpose through AI, by connecting world class technology, economics and behavioural science researchers with CommBank’s leading technology, customer and HR experts.”
