In a landmark move, the University of Adelaide has entered into a five-year strategic partnership with Commonwealth Bank, aiming to drive cutting-edge research and strengthen Australia’s AI capabilities. This collaboration will establish the CommBank Centre for Foundational AI, enhancing the University’s Australian Institute for Machine Learning (AIML) in both research and education.
The primary goal of the Centre is to ensure Australia remains a global leader in foundational machine learning and AI innovation. This initiative will provide a competitive advantage by advancing new machine learning methods and exploring their real-world applications, particularly in the finance sector.
For Commonwealth Bank, this research partnership promises significant advancements in fraud detection and the development of more personalized and secure banking experiences for customers.
Key objectives of the partnership include:
- Attracting Top AI Talent to Australia: The Centre will recruit leading AI researchers through hybrid appointments that combine academic rigor with industry relevance.
- Research and Publications: The Centre aims to generate high-impact research publications, contributing to the global body of AI knowledge.
- Industry-Academia Collaboration: The partnership will facilitate knowledge transfer through internships, workshops, and seminars, fostering a symbiotic relationship between industry needs and academic research.
- Building AI Capability in Australia: The initiative will focus on foundational research, which is crucial for a connected tech and innovation ecosystem.
The CommBank Centre for Foundational AI will be located at the Lot Fourteen innovation district on North Terrace.
Professor Anton Middelberg, Deputy Vice-Chancellor and Vice-President (Research) at the University of Adelaide, emphasized the importance of this partnership. He stated, “Our researchers from the Australian Institute for Machine Learning will work with experts from the Commonwealth Bank of Australia to apply the latest techniques in artificial intelligence, directly benefiting people’s lives by improving financial systems.”
Professor Jessica Gallagher, Deputy Vice-Chancellor (External Engagement) at the University of Adelaide, added, “Collaborating with industry and business is a cornerstone of the University’s strategy to enrich academic and professional opportunities. Our shared commitment will have a positive impact on the global community.”
Brendan Hopper, Distinguished Engineer and Chief Information Officer for Technology at Commonwealth Bank, expressed his enthusiasm for the partnership. “We’re proud to partner with the University of Adelaide to invest in research that will help attract top tech talent and enhance Australia’s global influence in AI. This partnership will drive innovation and create even safer and more personalized experiences for our customers.”
Professor Simon Lucey, Director of AIML at the University of Adelaide, highlighted the broader implications of the initiative. “Investing in the foundational aspects of AI is essential for addressing key national challenges surrounding bias, trust, and efficiency. The CommBank Centre for Foundational AI will serve as a magnet for top-tier global AI talent, drawing experts and innovators to Australia.”
The commitment from both the University of Adelaide and Commonwealth Bank to advance AI research positions Australia as a leader in the field, ready to tackle the challenges and opportunities presented by AI technology on a global scale.
