CBA sounds the bell on AI job losses but are payments functions on the block?

So far most Australian institutions have been reluctant to identify AI replacing jobs but the evidence from offshore on fraud, AML, compliance and back office staff is clear. The nation’s biggest payments player - Commonwealth Bank - is leading the AI charge locally, in the footsteps of global counterparts like HSBC, Citi, JP Morgan, Visa, Mastercard, PayPal and Block.