CBA expands Microsoft generative AI partnership

The Commonwealth Bank of Australia said it’s expanding its generative AI Microsoft partnership after signing a new ‘letter of intent’ to deliver more projects. 

The major bank said on Monday the extended partnership is set to offer customers better benefits via further generative AI adoption and cyber security initiatives.

CBA said some planned improved customer experiences include its CommBank Copilot which will resolve requests faster and boost customer safety by sharing intelligence to further cyber security. 

It will also build out its cyber skills and develop Copilots skills amongst its staff to better assist respond to customer needs and increase its collaboration between engineering teams. 

Already, CBA revealed its Copilot for Microsoft 365 integration early this year which it said has led to 85 percent of employees stating they wouldn’t want to go back to working without the capability and 96 percent said they were more productive.

At the time, Gavin Munroe, CBA’s Group Executive, technology and group chief information officer said the capabilities were rolled out to 300 CBA employees and used to simplify internal operations and innovate.

It’s already launched its own CommBank Customer Copilot, with plans to build its own AI “banker” that can make tailored insights and take verbal commands.

Speaking on Monday’s news, Munroe said engineers from Microsoft’s Seattle headquarters are already working on experiments with CBA.  

“Working in partnership with Microsoft, alongside other external partners, gives us the opportunity to access the global expertise in a range of areas so we can deliver more for our customers – including the incredibly fast-moving area of generative AI,” said Munroe.

“Through our ongoing partnership, we’ll be able to deliver technology that will allow customers to interact with CBA seamlessly and resolve queries faster than ever before. 

Munroe added, “We also see this as an opportunity to work together with leading global technology teams to ensure CBA’s safety and security is constantly upgraded and improved, to keep pace with the evolving threat landscape.”

Steven Worrall, managing director of Microsoft Australia and New Zealand said, “We are very excited to strengthen our partnership with CommBank, helping it set new benchmarks in customer and employee experiences, operational efficiency and innovation. 

“Microsoft will continue working closely with CommBank to realise AI’s full potential in line with the bank’s strategy to deliver world-leading digital experiences and technology,” Worrall said. 

Worrall said the collaboration “will also go beyond immediate business outcomes” and address “critical societal challenges through enhanced cybersecurity and sovereign capability development.”

“Together, we aim to not only enhance the security posture of CommBank and its customers but also increase Australia’s resilience against evolving cyber threats. 

“This partnership underscores our dedication to fostering a safer, more secure digital environment for all Australians,” Worrall said.