Rarely has a technology been met with the excitement and trepidation that AI has. Because artificial intelligence not only matches but can surpass human intelligence, it is exciting as a means to improve speed, save cost and maximize accuracy—but menacing for its potential to displace human workers. Banks are embracing AI for its staggering benefits, while also acknowledging that it creates a few wrinkles that need ironing out.
Commonwealth Bank of Australia
On November 15, the Commonwealth Bank of Australia (CBA) held its annual general meeting (AGM), during which a small but notable protest vote emerged against the bank’s board appointments and executive remunerations.