CBA’s $132 million play with California artificial intelligence leader H20 to make the bank ‘an AI superpower’

Dr Andrew McMullan, CBA’s Chief Data & Analytics Officer said the partnership will also help other platforms the bank has invested in, such as Little Birdie, Karta, CommBank Rewards, and Klarna, and drive sales for merchants.

“We intend to be one of the highest quality, lowest cost sources of leads to our business customers,” he said.

“H2O.ai will also help us to better predict bills and forecast cash flows for both retail and business customers so they can plan ahead. Customers want to be in control, and through the combination of our award winning app, powered by artificial intelligence, we can deliver products and services in the moment to manage unexpected expenses or irregular incomes.

Dr McMullan said the move also tackle broader issues such as energy usage and carbon emissions.

“We will be using our AI models to orchestrate a range of services available across the CBA ecosystem for customers, including through our own products like the Green Loan to help homeowners finance solar or a battery, or through recently announced partnerships such as Amber Energy and CoGo,” he said.