The University of Adelaide and Commonwealth Bank (CommBank) have announced a five-year partnership to establish the CommBank Centre for Foundational AI. This initiative aims to strengthen Australia’s role in AI innovation by advancing foundational machine learning research.
The centre, based at Adelaide’s Lot Fourteen innovation district, will support the Australian Institute for Machine Learning (AIML) in exploring new machine learning methods and applying them to industries like finance. For CommBank, the research could lead to improved fraud detection and more personalized, secure banking experiences.
Key goals of the partnership include attracting top AI talent to Australia, producing high-impact research publications, and fostering collaboration between industry and academia through internships, workshops, and seminars. These efforts will help build Australia's AI capability and contribute to the global AI knowledge base.
Professor Anton Middelberg, Deputy Vice-Chancellor at the University of Adelaide, emphasized the importance of this collaboration in applying the latest AI techniques to improve financial systems. Brendan Hopper, CommBank’s Chief Information Officer for Technology, noted that this partnership is an investment in Australia’s AI future, helping to attract global talent and drive innovation.
Professor Simon Lucy, Director of AIML, highlighted the need for foundational AI research to address national challenges like bias, trust, and efficiency. He sees the centre as a magnet for top-tier global AI experts, positioning Australia as a leader in AI development.
Through this partnership, the University of Adelaide and CommBank aim to advance AI research and foster real-world innovations that benefit both industry and society.
