AMP and UNSW Collaborate to Promote Responsible AI in Finance
AMP and UNSW Sydney have formed a partnership aimed at advancing the application of artificial intelligence (AI) within the financial services sector. This collaboration seeks to deliver practical and responsible solutions to enhance Australians’ retirement planning. By combining AMP’s extensive experience in superannuation, banking, and financial advice with UNSW’s renowned expertise in AI research, engineering, and ethics, the partnership is poised to make significant contributions to the industry. UNSW, ranked among the top 20 universities globally, hosts the largest AI research body in Australia, bringing together hundreds of experts in machine learning, data science, and related fields. The partnership will leverage skills from UNSW’s Faculties of Engineering, Business, and Law, as well as engage with the Australian Graduate School of Management (AGSM), the Australian Graduate School of Engineering (AGSE), and the School of Computer Science.
AMP’s Chief Executive Officer, Alexis George, emphasised the importance of responsible AI adoption in transforming financial services and building financial confidence among Australians. The partnership aims to address critical societal challenges, such as financial illiteracy and the needs of an ageing retiree population, while maintaining the value of human connection. The agreement builds on AMP’s existing AI Centre of Excellence, which has successfully integrated generative AI to enhance customer service and operational efficiency. The partnership focuses on four key priorities: advancing AI capabilities through co-development, promoting ethical AI use, cultivating future AI talent, and equipping AMP employees with necessary training and tools. This initiative will involve joint research projects, student placements, and shared learning sessions, providing UNSW students with valuable exposure to real-world challenges in financial technology.
Categories: Artificial Intelligence in Financial Services, Ethical AI Development, Industry-Academic Collaboration
Tags: Artificial Intelligence, Financial Services, Retirement Planning, Superannuation, Ethics, Machine Learning, Data Science, Responsible AI, Industry Collaboration, Financial Technology