The Commonwealth Bank of Australia (CBA) has expanded its strategic partnership and investment in AI safety and research company, Anthropic, in a move to enhance the bank's AI adoption and transform customer experiences.

Group Chief Information Officer at CBA, Gavin Munroe, said: "AI is delivering more personalised and intuitive customer experiences today and it holds great potential to reimagine how our customers bank in the future. This enhanced strategic partnership and investment in Anthropic will help our teams to accelerate our AI capability."

The partnership will provide CBA's engineers with opportunities to work with Anthropic's AI experts, focusing on product development and customer protection, including fraud prevention.

"With our shared values and vision, this partnership is also intended to uplift and unlock AI potential for our engineers, who will have an opportunity to work with Anthropic’s AI experts to explore how we can accelerate how we build the products to serve and protect our customers, including how we can further protect customers and communities from scams and fraud," said Munroe.

"Our partnership will also provide our technologists with access to Anthropic’s thought leaders, accelerating professional development for our people and helping us in our ambition to stay at the forefront of safe and responsible AI."

Anthropic's Chief Financial Officer, Krishna Rao, said: "Our partnership with Commonwealth Bank of Australia through this strategic investment represents a shared commitment to developing AI that is both powerful and creates meaningful value for customers. By combining Anthropic's advanced AI capabilities with CBA's deep financial expertise we can create more personalised experiences for customers while maintaining the highest standards for safety and security. Our teams look forward to working closely with CBA's engineers and data scientists to explore innovative applications of our technology, particularly in critical areas like fraud prevention and customer service enhancement."