Banks see growing reliance on 'big tech' for AI bringing new risks

By

Owing to compute power demands.

Banks see growing reliance on 'big tech' for AI bringing new risks
The boom in artificial intelligence will increase banks' dependence on big US tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services - widely used already for detecting fraud and money-launderin...

Hi! You've reached one of our premium articles. This is available exclusively to subscribers.

It's free to register, and only takes a few minutes.

Once you sign up you'll have unlimited access to the full catalogue of Australia's best business IT content, as well as a daily news bulletin delivered straight to your inbox.

Register now
Got a news tip for our journalists? Share it with us anonymously here.
Tags:
aibankingfinancial servicessoftware

Sponsored Whitepapers

Service Over Signatures: The Truth About No Lock-In IT
Service Over Signatures: The Truth About No Lock-In IT
Wasabi Reveals Hidden Costs and Cloud Storage Shifts in ANZ for 2025
Wasabi Reveals Hidden Costs and Cloud Storage Shifts in ANZ for 2025
Datacom + Microsoft Azure: Turn Ideas Into Impact in Just 4 Weeks
Datacom + Microsoft Azure: Turn Ideas Into Impact in Just 4 Weeks
Protect APIs. Protect Your Business.
Protect APIs. Protect Your Business.
KnowBe4 Benchmark Report: Reducing Human Risk & Phishing Vulnerability in ANZ
KnowBe4 Benchmark Report: Reducing Human Risk & Phishing Vulnerability in ANZ

Events

Most Read Articles

ADHA readies market test of Accenture's $788m My Health Record deal

ADHA readies market test of Accenture's $788m My Health Record deal
Microsoft to cut about four percent of jobs amid hefty AI bets

Microsoft to cut about four percent of jobs amid hefty AI bets
Western Sydney University establishes dedicated data function

Western Sydney University establishes dedicated data function
TAFE NSW inks $87m Microsoft renewal

TAFE NSW inks $87m Microsoft renewal
techpartner.news logo
Dave Stevens on Brennan's evolution and the need for Aussie tech unity
Dave Stevens on Brennan's evolution and the need for Aussie tech unity
Sydney's ITKnocks on contact centre AI and the slow death of the IVR
Sydney's ITKnocks on contact centre AI and the slow death of the IVR
"It's an exciting time to be part of the health and aged care sector"
"It's an exciting time to be part of the health and aged care sector"
Insicon founder Matt Miller on the coming 'tsunami' of compliance and educating boards about cyber security
Insicon founder Matt Miller on the coming 'tsunami' of compliance and educating boards about cyber security
Orro claims Australia first with managed digital asset discovery service
Orro claims Australia first with managed digital asset discovery service

Log In

  |  Forgot your password?