Major lenders are building artificial intelligence-powered “agents” – software that can do the same work as humans – in their business banking divisions, as the battle for AI supremacy in financial services intensifies despite workforce concerns about the risk to jobs.

Commonwealth Bank of Australia is building what it describes as “virtual relationship managers” in its business bank. The customer-facing technology is in a pilot stage as the bank discusses the timing of a market rollout with regulators. Loading...

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