The bank wants to deploy “unsupervised A” but needs to ensure models are trained to respond to moral judgments.
Westpac has joined a cutting-edge research consortium at the University of NSW that is developing “guardrails” to allow banks to broaden the deployment of artificial intelligence technology.
“This consortium involves the most advanced thinkers in Australia and overseas and will start to develop the guardrails to allow us to scale this next generation of AI,” said Westpac chief technology officer David Walker.“This will be groundbreaking activity. Nobody in the world is doing this at scale, and we think investing in the leading researchers to break this down and solve it is exciting.”
He described the uncontrolled deployment of AI as an existential risk to global society, and said AI researchers want to use fintech to develop models that respond to human feelings. AI is already enhancing customer and employee experiences in dozens of systems around Westpac, but current deployment is all ‘supervised AI’. This means AI systems are trained by labelled data and cannot learn on their own.
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