AI Takes Financial Services by Storm
The financial services sector in Australia is on the verge of a massive economic boost. According to the Tech Council of Australia and Microsoft, generative AI adoption could result in an annual economic value of $5 – $13 billion by 2030. It’s no surprise that this industry is moving quickly, with NAB being one of the pioneers in deploying M365 Copilot. NAB is currently testing the technology for specific tasks and roles to determine its impact on productivity and the ability of their workforce to focus on more valuable responsibilities.
Suncorp Group, leveraging years of experience with AI, is also participating in the M365 Copilot trial. Their primary objective is to streamline their processes and provide better service to customers.
Craig Price, Head of Data Science, AI & Insights at Suncorp Group, explains, “We recognize the immense potential of Gen AI solutions and are planning to expand their use within our organization, focusing on safety, security, and ethical considerations. As an insurer, we’re examining various use cases, including how AI can enhance customer service during the claims process. We believe that implementing a more intuitive AI system will enable our employees to access relevant content faster, allowing them to better assist our customers when they need us the most.”
Jeremy Hubbard, Chief Technology and Data Officer at Rest Super, expressed his excitement about AI’s impact on the future of Australian workplaces and the superannuation sector. Hubbard emphasizes the importance of staying ahead of the curve and building capability in powerful technologies like AI. Rest Super aims to leverage AI to optimize retirement outcomes for the millions of Australians who rely on their services.
Revolutionizing Energy, Utilities, and Construction
Capgemini’s recent research revealed that 33% of utility and energy companies worldwide are experimenting with generative AI. Australia is no exception, as AGL and Powerlink have been selected for the Microsoft 365 Copilot Early Access Program. The Australian Government’s Intergenerational Report 2023 indicates that sectors like energy, utilities, and construction need to embrace technology to automate routine tasks and enhance worker capabilities to drive productivity.
One of Australia’s leading energy companies, AGL, is eager to join the Early Access Program and foster a culture of innovation within their workforce. Grace Russo, AGL’s Head of Employee Technology, explains their motivation: “We’re always on the lookout for new technologies that can fuel innovation in our business. AGL was among the first companies to adopt Azure, Office 365, and Microsoft Teams in Australia. Today, we’re proud to be one of the first companies bringing AI productivity technology to our employees.”
AGL will initially focus on heavy content producers and leaders who typically have packed schedules and conflicting meetings. Russo states, “While we’ve embraced flexible work models for the past few years, it has increased the time employees spend managing emails, chats, and attending meetings to stay connected. Microsoft 365 Copilot offers immense potential in helping our employees become more efficient and productive, freeing them from mundane tasks so they can concentrate on higher-value responsibilities.”
Powerlink, within the rapidly evolving energy sector in Australia, sees the opportunity for generative AI tools like M365 Copilot to keep their workforce up to speed and enhance productivity.
Mark Pozdena, General Manager Business IT at Powerlink Queensland, emphasizes their commitment to empowering their people with transformative technology. Pozdena states, “Powerlink’s partnership with Microsoft has been integral to our growth and transformation over the past few years. Our investment in enabling our workforce with cutting-edge technology keeps us ahead of the curve. We believe M365 Copilot will further enhance productivity in our dynamic sector.”