Artificial intelligence

Securities class actions have risen by 43% year-on-year in Australia.

It aims to replace multiple on-premises legacy systems.

The council also urged the government to avoid regulatory duplication between the ACL and existing financial legislation.

It could also decrease loss-adjusting costs by 20% to 25%.

Half of CEOs view AI as an opportunity, whilst the other half see it as a risk.

Half of insurers attribute poor customer experience to limited technology adoption. 

Yet, also over half (57%) of organisations see AI as a vital tech.

Ransomware and phishing now worry 35% of executives.

AI vendors can become single points of failure.

74% of respondents reported that fraud cases are either stable or increasing.

Generative AI augments decision-making and hyper-personalization.

Scaling efforts are hindered by regulatory, data, and governance challenges.

Addressing privacy and bias concerns through innovative data use.