University of Adelaide Partners with Commonwealth Bank to Launch CommBank Centre for Foundational AI

Today, Wednesday, 18 September the University of Adelaide has announced a new strategic partnership with the Commonwealth Bank and the creation of the CommBank Centre for Foundational AI to advance research and bolster Australia’s AI capability.

The five-year partnership will further enhance the research and education offerings of 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.

“Our researchers from the University’s Australian Institute for Machine Learning will work with experts from the Commonwealth Bank of Australia to apply the latest techniques in artificial intelligence.”Professor Anton Middelberg, Deputy Vice-Chancellor and Vice-President (Research), University of Adelaide

Key objectives of the partnership include:

• Attracting top AI talent to Australia: Leading AI researchers will be recruited to the centre and CBA through hybrid appointments, which will combine academic rigor with industry relevance.
• Research and publications: Generating high-impact research publications and sharing findings that will contribute to the global body of knowledge in AI.
• Industry-academia collaboration: Facilitating knowledge transfer through internships, workshops, and seminars, promoting a symbiotic relationship between industry needs and academic research.
• Building AI capability in Australia: Foundational researchers are at the heart of any connected tech and innovation ecosystem.

The new CommBank Centre for Foundational AI will be located at Lot Fourteen innovation district, North Terrace.

The following statements have been provided regarding the new partnership:

Professor Anton Middelberg, Deputy Vice-Chancellor and Vice-President (Research), University of Adelaide

“The University of Adelaide prides itself in conducting excellent and impactful world-class research in many areas that tackle society’s challenges.

“Our researchers from the University’s Australian Institute for Machine Learning will work with experts from the Commonwealth Bank of Australia to apply the latest techniques in artificial intelligence.

“Their work will be of direct benefit to people’s lives by improving financial systems.”

Professor Jessica Gallagher, Deputy Vice-Chancellor (External Engagement), University of Adelaide

“The University of Adelaide is excited to be extending its long-running relationship with the Commonwealth Bank of Australia.

“Collaborating with industry and business is one of the cornerstones of the University’s strategy to enrich academic and professional opportunities.

“Our shared commitment will have a positive impact for the global community.”

Brendan Hopper, Distinguished Engineer and Chief Information Officer for Technology, Commonwealth Bank of Australia

“We’re looking forward to working closely with some of the most creative thinkers at the University’s Australian Institute of Machine Learning.

“We’re proud to partner with the University of Adelaide to invest in research that will help attract amazing tech talent and enhance Australia’s global influence in AI, while driving innovation through research to create even safer and more personalised experiences for our customers.

“This partnership will bolster Australia’s AI capability through investments in the talent and infrastructure required to ensure Australia is ready to take leadership in foundational AI research.

“I’m particularly excited about the foundational research the centre will produce and its potential to have a global impact in AI.”

Professor Simon Lucey, Director, Australian Institute for Machine Learning, The University of Adelaide

“AI is already in our everyday lives, but the fundamental principles of AI are still shrouded in mystery. This lack of understanding will continue to hinder Australia’s development, voice, and impact in the AI space unless we invest in innovative, research-intensive initiatives such as the CommBank Centre for Foundational AI.

“Investing in the foundational aspects of AI is essential for addressing key national challenges surrounding bias, trust, and efficiency. By focusing on these core areas, we can ensure that AI systems maximise their potential benefits for Australia’s economy and society.

“The CommBank Centre for Foundational AI will serve as a magnet for top-tier global AI talent, drawing experts and innovators to Australia.”