AIML and CommBank join forces to establish new centre for foundational artificial intelligence
Pictured at the launch of the CommBank Centre for Foundational AI Research are (l-r) Sabina Streatfeild, GAICD, Manager, Technology Skills Pipeline & Strategy, CBA; Professor Jessica Gallagher, Deputy Vice-Chancellor (External Engagement), University of Adelaide; Brendan Hopper, Chief Information Officer for Technology, CBA; Professor Simon Lucey, Director, AIML, University of Adelaide; The Hon. Tung Ngo MLC representing the Premier; and Professor Laura Parry, Pro Vice-Chancellor (Research Excellence), University of Adelaide.
This week, the University of Adelaide and Commonwealth Bank announced a landmark five-year partnership to establish the co-branded CommBank Centre for Foundational AI Research at Lot Fourteen. This collaboration embodies a shared vision between industry and academia, driving critical advancements in artificial intelligence (AI) that will elevate research and educational outputs at the University’s Australian Institute for Machine Learning (AIML).
The Centre aims to keep Australia at the forefront of foundational machine learning and AI innovation, creating a competitive edge in harnessing AI technology. The partnership will foster foundational research into new machine learning methods and techniques and explore real-world applications in finance and other industries. For CommBank, this research could unlock further improvements to fraud detection to keep customers' money and data safe, while identifying new ways to create personalised and secure banking experiences.
This initiative was born from a CommBank investment in AI, the largest of any company in Australia. It aims to position South Australia as a leader in foundational AI research, developing cutting-edge machine learning techniques with real-world applications across industries such as finance and national security. CommBank will harness these innovations to enhance customer security and create more personalised banking experiences.
Key objectives include:
- Attracting top AI talent through hybrid roles that bridge academic and industry expertise.
- Producing high-impact research publications that contribute to the global AI knowledge base.
- Promoting industry-academic collaboration via internships, workshops, and seminars.
- Building AI sovereign capability in Australia to strengthen national leadership in AI R&D.
This initiative reflects a mutual commitment to fostering innovation and economic growth through AI. As Professor Simon Lucey, AIML Director, noted during the centre's launch on Wednesday, “investing in foundational AI is essential for addressing national challenges and ensuring AI systems contribute to Australia’s economic and societal development.”
For more information, please read the University of Adelaide's media release - https://www.adelaide.edu.au/newsroom/news/list/2024/09/17/five-year-par…