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AI Tools Cuts Scam Losses, Speeds Up Home Loans at Top Australia Bank

Commonwealth Bank of Australia said generative artificial intelligence tools cut customer losses from scams in half. It has also helped to shorten the process for mortgage pre-approvals to as little as 10 minutes.The technology helped lower frauds by 30% and its AI messaging app trimmed call center customer wait times by 40% this year, the bank said in a statement Thursday. AI may also soon be able to answer some 10% of the trickiest customer inquiries that regular computing responses can’t curr...

Read more at bloomberg.com

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