AI In Australian Finance

Legacy Infrastructure and Data Silos Stall Scalable AI

Finance leaders are grappling with challenges in operational efficiency, financial management, and technology systems. Legacy infrastructure, integration difficulties, and data silos remain significant hurdles to scalable AI deployment.

Moving AI from pilots to enterprise-wide solutions faces structural and technical barriers. Addressing these foundational issues, including data quality and integration, is crucial for building a competitive advantage.

Workforce Readiness and Regulation Both Trail AI Investment

Despite heavy AI investments, a substantial gap exists in workforce readiness. Many finance professionals lack AI training and express concerns about job security, highlighting the urgent need for upskilling and effective change management.

As AI adoption grows, regulatory frameworks are struggling to keep pace. Australia has ethics principles and voluntary safety guardrails, but inconsistent adoption means a clear, balanced regulatory approach is needed to build trust and prevent potential risks.

CBA, NAB, ANZ and Westpac Are Embedding AI Across Their Operations

Major Australian banks like CBA, NAB, ANZ, and Westpac are actively integrating AI. Their initiatives focus on enhancing cybersecurity, improving customer experience, automating internal processes, and developing advanced financial concierge services.

Lasting Value Comes From Business Alignment, Skills and Ethical Guardrails

The report emphasises that true value from AI comes from aligning initiatives with clear business priorities, investing in people and skills, and embedding ethical guardrails from the outset. This strategic approach will ensure resilience, growth, and leadership in the AI-driven financial future.

For more information please click “Read full Report”.

Factor Has Launched a Research and Advisory Arm

Exclusive membership organisation, Factor, has launched a new Research and Advisory arm, aimed at helping both C-Suite leaders and providers in the enterprise and public sectors.

It comes after Factor rebranded at the beginning of the 24/25 financial year, with the new identity representing an expanded vision and commitment to offering top-tier thought leadership and networking opportunities to senior executives across ANZ, Singapore and a number of other countries and regions.

The new arm is being spearheaded by VP and Head of Research Craig Baty and VP of Advisory Partnerships Shayne Arundell.

Gartner and Fujitsu Alumni Lead the New Practice

With over 30 years of C-level experience in ICT, HR, marketing, sales, operations, market research, and international business, Craig brings a wealth of knowledge and expertise to Factor. “I’m pleased to be part of Factor’s expansion into Research & Advisory services, and I’m looking forward to sharing actionable insights with our members and providers to guide them on best practices in the market,” says Craig.

Craig has held a number of C-level roles, including his own start-up, Global VP of Global Marketing and VP Digital Services at Fujitsu Tokyo HQ, and CTO & Head of Marketing for APAC. He also served as Distinguished Lead Analyst for ISG and established the Provider Lens research arm in AP. As Group VP and Head of Research for Gartner AP/J and CEO of Gartner Japan, he earned the first AP/J Gartner Thought Leadership award, established what is now Gartner for Marketing, and pioneered the Gartner SWOT analysis methodology.

Shayne Arundell is a seasoned leader with a proven track record of success in the APAC region, bringing over 15 years of Partnerships experience to Factor from FMCG, Fintech and Research and Advisory industries.

Shayne is also a Gartner alumnus, previously serving as Director of Enterprise Sales, and as APAC Vice President for Intelligence Cloud at Korn Ferry, both being leading global consulting firms. “Factor is the newest leader in advisory, backed by fiercely local insights, from an extensive market research database you won’t see anywhere else,” Shayne explains.

Research Coverage Spans AI, Cyber Security, Hybrid Cloud and AU Fintech

Within its expertise Factor will cover a range of topics, including, but not limited to:

• Artificial Intelligence and Machine Learning

• Cyber Security

• 5G Landscape

• Hybrid Cloud

• Technology Profitability

• AU Fintech

• Digital Transformation and Enablement

• CX, EX, UX

An Analyst Team and the Directions™ Portal Support the Research

Both Craig and Shayne are supported by Factor’s team of experts and analysts, including Director of Insights and Value, Darren Adams, who is a highly regarded professional in the APAC data and analytics space, drawing on his experience in communications, client relations, B2B marketing, data and strategy in the technology sector.

“People are at the heart of everything we do at Factor, and data is our key in transforming their interactions into understandings. I'm excited to share cutting-edge insights and understanding with our community, to help foster deeper, lasting and beneficial connections,” Darren says.

Factor’s Editor-In-Chief, Madeline Palmer, an expert media professional, oversees a broad range of strategic, editorial, and managerial tasks to ensure the production and dissemination of high-quality research content. “Our new membership app will be one-stop shop for all technology leaders to connect and learn through events, advisory and multi-media content, and I am looking forward to being part of that journey,” says Madeline.

The Directions™ portal on Factor’s new membership app is a cutting-edge platform, allowing users to explore a repository of reports and other content, as well as create their own research visualisations with Factor’s existing database.

Factor’s CEO and founder, Josh Heid, says this new phase for the company is something he’s been working towards for quite some time. “After six incredible years of empowering and enabling leaders, our rebrand as Factor, coupled with the launch of our Research and Advisory arm, is about offering our members and providers with the best services and products the market can offer,” Josh explains. “I’m very proud of the team at Factor and what we have built.”

For more information about Factor’s new Research and Advisory offerings click below.