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CBA Forms AI Risk Committee to Enhance Governance


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CBA’s AI Risk Management

Brief Overview

  • CBA has designated AI as a “significant risk category” within its risk management framework.
  • A specialized AI risk committee has been created to monitor AI-related risks.
  • This committee functions between executive leadership and business unit management.
  • AI screens 80 million incidents on a daily basis to identify fraud and scams.
  • Internal guardrails-as-a-service ensure that AI chatbot replies are precise.

AI as a Significant Risk

The Commonwealth Bank of Australia (CBA) has made a notable advancement in incorporating artificial intelligence into its risk management protocols. By defining AI as a “significant risk category,” CBA recognizes the substantial influence AI can exert on its operations and the inherent risks involved. This classification guarantees that AI implementation undergoes the same level of examination as conventional risk domains like lending and liquidity exposures.

Formation of AI Risk Committee

To tackle these risks, CBA has established a specialized AI risk committee. This committee functions between the executive tier and business unit leadership, facilitating a thorough approach to AI governance. The AI risk committee is responsible for supervising the design and function of the bank’s AI risk framework. It offers crucial risk management challenges and guidance, especially for higher-risk AI implementations.

Governance Framework and Accountability

The governance framework positions the board at the top, supported by four essential committees, including risk compliance and audit. Beneath the board is the executive leadership team, which is aided by management-level committees such as the model risk governance committee and the AI risk committee. Business units possess their own financial and non-financial risk committees to assess AI models utilized in their sectors, ensuring a strong, multi-tiered governance system.

CBA establishes AI risk governance committee

AI in Practice: Fraud Prevention and Chatbot Safeguards

CBA is utilizing AI to analyze an impressive 80 million incidents each day, aiming to effectively discover fraud and scams. Furthermore, the bank employs an internal guardrails-as-a-service (GaaS) system for its customer-facing Ceba chatbot. This system guarantees the precision and suitability of AI-generated replies, preventing inaccuracies from the language model and preserving the quality of customer interactions.

Conclusion

The Commonwealth Bank of Australia is leading the way in merging AI into its risk management and operational frameworks. By setting up a dedicated AI risk committee and enforcing strong governance structures, CBA is ensuring that AI technologies are utilized responsibly and efficiently. This forward-looking strategy underscores the bank’s dedication to protecting both its operations and its clientele.

Q: Why did CBA label AI as a “significant risk category”?

A: CBA recognizes the considerable effects and potential dangers connected to AI technology, requiring thorough governance comparable to traditional risk sectors.

Q: What responsibilities does the AI risk committee hold at CBA?

A: The committee supervises the development and implementation of the bank’s AI risk framework, providing risk management insights and recommendations for higher-risk AI applications.

Q: How does CBA guarantee the accuracy of its AI chatbot responses?

A: CBA utilizes an internal guardrails-as-a-service (GaaS) system to ensure accurate and suitable AI-generated replies, averting inaccuracies by the language model.

Q: How many incidents does CBA evaluate daily with AI for fraud detection?

A: CBA evaluates around 80 million incidents daily using AI systems to identify fraud and scams.

Q: What constitutes the overall governance framework for AI at CBA?

A: The governance framework comprises the board at the top, supported by executive leadership and management committees, ensuring thorough supervision of AI-related risks.

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Transport for NSW Acquires Leading NBN Co Data Specialists


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Transport for NSW Engages Former NBN Co Data Leaders

Quick Overview

  • Transport for NSW has brought on board two former NBN Co data executives, Marc Ashworth and Easwaren Sivagnanam.
  • The hires are part of a recent restructuring within the agency’s technology sector.
  • Ashworth will spearhead strategic data efforts, while Sivagnanam will concentrate on architecture and strategy.
  • These modifications aim to improve data management and artificial intelligence capabilities.

Transport for NSW Enhances Data Leadership

Transport for NSW secures two NBN Co data leaders

Transport for NSW has revealed the hiring of Marc Ashworth and Easwaren Sivagnanam, two former NBN Co data specialists, to newly established leadership positions within its technology sector. This transition is part of a strategic restructuring aimed at bolstering the agency’s data capabilities.

Marc Ashworth’s Role and Responsibilities

Marc Ashworth has taken on the role of Chief Data Officer at Transport for NSW. With significant experience gained from his time at NBN Co and CBA, Ashworth is poised to deliver strategic leadership across the agency’s data and information domain. His responsibilities include overseeing the enterprise-wide data strategy, policy, engineering, architecture, and operations, with an emphasis on data management, exchange, storage, and the assimilation of AI technologies.

Easwaren Sivagnanam’s New Position

Easwaren Sivagnanam steps in as the Executive Director of Architecture, Strategy, and Partnering. His experience in leading data and infrastructure transformations at NBN Co will be crucial in developing Transport for NSW’s technological framework and capabilities. Sivagnanam is enthusiastic about advancing the agency’s mission to enhance the quality of life in New South Wales.

Strategic Implications of the Appointments

The hiring of these experienced data professionals highlights Transport for NSW’s dedication to utilizing sophisticated data strategies and technologies. By strengthening their data management and AI capabilities, the agency aims to provide more secure, effective, and customer-centric technology solutions.

Summary

Transport for NSW has strategically engaged former NBN Co data leaders to fortify its technological framework. The appointments of Marc Ashworth and Easwaren Sivagnanam are pivotal to achieving the agency’s vision of using data for operational excellence and enhanced public service delivery.

Q: What positions have Marc Ashworth and Easwaren Sivagnanam taken at Transport for NSW?

A: Marc Ashworth serves as the Chief Data Officer, and Easwaren Sivagnanam occupies the role of Executive Director of Architecture, Strategy, and Partnering.

Q: What background does Marc Ashworth bring to Transport for NSW?

A: Ashworth previously held the position of General Manager of Data Science and Data Product Engineering at NBN Co and has data experience from CBA.

Q: What will Easwaren Sivagnanam prioritize in his role?

A: Sivagnanam will focus on architecture, strategy, and partnerships, applying his experience in data transformation and AI technology from his time at NBN Co.

Q: What effect will these appointments have on Transport for NSW?

A: The appointments are designed to enhance Transport for NSW’s data strategy, management, and AI capabilities, ultimately improving customer service and operational effectiveness.

Q: What prompted Transport for NSW to restructure its technology division?

A: The restructuring aimed to align the agency’s technology goals more closely with its strategic objectives, thereby improving data-driven decision-making.

Q: What are the primary duties of the Chief Data Officer at TfNSW?

A: The Chief Data Officer is tasked with guiding teams to deliver secure and efficient technology solutions, with a strong focus on data strategy, policy, and AI integration.

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WD unveils strategy for hard drives exceeding 100TB in response to the AI data boom.


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WD’s New Chapter: 100TB Hard Drives and AI Data Innovations

Quick Overview

  • WD rebrands and focuses on AI data needs with 100TB+ hard drives.
  • Innovations such as UltraSMR ePMR and HAMR are designed to enhance performance.
  • WD launches High Bandwidth Drive and Dual Pivot technology to bridge the SSD gap.
  • Energy-efficient HDDs reduce power consumption by 20% for AI data centres.
  • WD positions itself as a major player in the AI and cloud storage sectors.

WD Launches New Era in Storage Innovations

WD has formally embarked on a new journey, debuting a strategy to address the escalating data needs generated by AI advancements. During its Innovation Day 2026, the company showcased its aspirations for 100TB hard drives, merging capacity with state-of-the-art performance and efficiency technologies.

The Journey to 100TB and Beyond

The transition to 100TB storage is significant. WD’s 40TB UltraSMR ePMR HDD is currently undergoing testing with hyperscale clients, with expected global production by late 2026. The dual-track approach utilizing ePMR and HAMR technologies provides infrastructure compatibility, targeting 60TB on ePMR and 100TB on HAMR by 2029.

Reevaluating Hard Drive Performance

Conventional HDDs fall short compared to SSDs in speed. WD aims to change this with High Bandwidth Drive and Dual Pivot technologies. These advances double data throughput by allowing simultaneous read/write operations and enhance IO performance without compromising capacity.

Energy Efficiency for the AI Era

AI tasks often produce substantial amounts of “cold” data. To address power limitations, WD’s new HDDs lower energy consumption by 20%, making them ideal for extensive data storage requirements. These drives are anticipated to be certified by 2027.

A New Identity for a New Age

The rebranding to “WD” signifies a stronger emphasis on storage solutions for AI and cloud domains, now accounting for 90% of its revenue. This strategic shift reinforces WD’s role in the data economy.

Expanding Access for All

WD is extending its outreach by launching a platform with open API functionalities in 2027. This will enable medium-sized companies to efficiently manage large datasets, democratizing access to sophisticated storage solutions.

For further details, visit WD’s website.

Conclusion

WD is transforming data storage with initiatives for 100TB hard drives, emphasizing performance, efficiency, and market adaptability to fulfill the increasing needs of AI and cloud computing segments.

Questions & Answers

Q: Why is WD concentrating on AI data requirements?

A: AI necessitates substantial storage solutions due to its extensive data requirements, and WD strives to fulfill these needs with high-capacity and efficient drives.

Q: What innovations are being introduced by WD?

A: WD presents UltraSMR ePMR, HAMR, High Bandwidth Drive, and Dual Pivot technology to enhance storage functionality and efficiency.

Q: In what ways does WD plan to boost HDD efficiency?

A: By decreasing power consumption by 20%, WD’s new HDDs are tailored for AI data storage demands, balancing performance with efficiency.

Q: What does WD’s rebranding signify?

A: The rebranding illustrates WD’s dedication to emerging as a leader in the AI and cloud storage markets, focusing on the innovation of storage infrastructure.

Q: How will WD’s new platform assist mid-scale companies?

A: The platform, featuring an open API, will facilitate mid-scale enterprises in managing extensive datasets, providing storage solutions comparable to hyperscale standards.

Q: When will WD’s new technologies become available?

A: The 40TB drives are expected to arrive in late 2026, with further technologies and platforms launching by 2027.

Gartner Sees a Decrease in Demand for Consulting Services


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Gartner Sees Decrease in Demand for Consulting Services

Brief Overview

  • Gartner anticipates annual revenue and profits to fall short of expectations due to decreased corporate spending.
  • Company stocks fell over 22% after disappointing performance results.
  • Automation and internal AI solutions diminish the demand for outsourced consulting.
  • Estimated total revenue for 2026 is US$6.46 billion, beneath analyst forecasts.
  • Consulting revenue for the fourth quarter dropped by 13% compared to the prior year.

Economic Challenges Affect Gartner’s Revenue

The esteemed IT research organization Gartner is experiencing a drop in demand for its consulting services as companies reduce spending amid economic uncertainties. This market shift has compelled Gartner to predict its annual revenue and earnings to be lower than Wall Street’s expectations, significantly impacting its financial outlook.

Gartner experiences decreased demand at consulting division

Stock Market Response

Following the revelation, Gartner’s stock plummeted by over 22%. This notable decline indicates investor concerns regarding the company’s capability to handle current economic challenges and sustain its consulting division in a competitive landscape.

Automation and Internal AI Solutions

The rising use of automation and internal AI solutions by companies has further contributed to the waning demand for external advisory services. These technologies allow organizations to conduct planning and performance evaluations internally, lessening the dependence on firms like Gartner.

Financial Forecasts

Gartner has estimated a total revenue of US$6.46 billion (A$9.22 billion) for 2026, which is below analysts’ projections of US$6.71 billion. Furthermore, the company forecasts a yearly adjusted earnings of US$12.30 per share, which falls short of the expected US$13.53.

Insights Division and Consulting Sector

The firm’s largest segment, the Insights division, is anticipated to generate US$5.19 billion in annual revenue, slightly miss the estimated US$5.3 billion. The consulting sector, which provides strategic execution and advisory services, saw its fourth-quarter revenues decline by approximately 13% to US$133.6 million compared to the previous year.

Quarterly Results

Despite these hurdles, Gartner announced quarterly revenue of US$1.75 billion, in line with analysts’ predictions. Adjusted earnings for the quarter ending December 31 reached US$3.94 per share, exceeding forecasts of US$3.51.

Conclusion

Gartner’s outlook reflects widespread economic challenges and the implications of technological progress on conventional consulting models. As organizations increasingly adopt automation, the demand for external consulting services encounters significant challenges. Gartner’s strategic response to these developments will be vital for maintaining its position in the market.

Q: What are the primary factors behind Gartner’s drop in consulting demand?

A: The decline primarily stems from economic challenges, heightened automation usage, and in-house AI tools that lessen the reliance on external consulting.

Q: How did the stock market react to Gartner’s projections?

A: Gartner’s shares fell over 22% following the announcement of its lower-than-expected forecast.

Q: What financial forecasts has Gartner made for 2026?

A: Gartner predicts a total revenue of US$6.46 billion and adjusted annual earnings of US$12.30 per share for 2026.

Q: How has Gartner’s consulting segment performed lately?

A: The consulting segment experienced a 13% drop in fourth-quarter revenue, totaling US$133.6 million compared to the previous year.

Q: Did Gartner meet expectations for its quarterly performance?

A: Yes, Gartner reported quarterly revenue of US$1.75 billion in line with analyst estimates, and adjusted earnings of US$3.94 per share exceeded predictions.

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Beyond Bank’s Chief Information Officer Leaves


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Beyond Bank’s Leadership Shift: Introducing the CTO Position in Place of CIO

Quick Read

  • Stevie-Ann Dovico, the CIO of Beyond Bank, leaves after two years of service.
  • A new Chief Technology Officer (CTO) will assume the CIO’s responsibilities.
  • Wendy Den Hartog will temporarily lead the technology team.
  • The search for the CTO position will include candidates from both inside and outside the organization.
  • Dovico is commended for her role in enhancing technology and cybersecurity efforts.
  • Beyond Bank stood as a finalist in the 2026 awards for its enterprise knowledge projects.
Transition of Beyond Bank's CIO to a different role

Stevie-Ann Dovico (Credit: LinkedIn)

Leadership Adjustments at Beyond Bank

Beyond Bank is undergoing a notable leadership change as Stevie-Ann Dovico, who held the Chief Information Officer (CIO) position, resigns after a fruitful two-year period. Her exit signifies a realignment in the bank’s strategic approach, entailing the creation of a new Chief Technology Officer (CTO) position to supplant the traditional CIO role.

The New Position: Chief Technology Officer

CEO David Marshall declared that the hiring process for the CTO role is currently active, with applicants being considered from both the existing workforce and outside. Meanwhile, Chief Operating Officer Wendy Den Hartog will temporarily manage the technology sector.

Dovico’s Influence and Legacy

Dovico’s period at Beyond Bank resulted in notable enhancements in the organization’s technology strategy. Her leadership was crucial in advancing the bank’s technology infrastructure and optimizing its data usage strategies. With her direction, Beyond Bank fortified its cybersecurity capabilities and aided essential service provision teams.

Recognizing Accomplishments

Dovico’s achievements were acknowledged as she was honored as the finance technology leader of the year at the 2025 TechBest Benchmark Awards. Beyond Bank itself was recognized as a finalist in the 2026 awards for its innovative contributions towards an enterprise knowledge and change management system.

Conclusion

The exit of Stevie-Ann Dovico from her CIO role at Beyond Bank signifies a strategic transformation with the introduction of a CTO position. Her leadership facilitated considerable technological advancements and recognition throughout her service. The bank is now concentrating on appointing a CTO to sustain this momentum.

Q&A

Q: Why is Beyond Bank substituting the CIO role with a CTO?

A: Transitioning to a CTO role represents a strategic pivot towards boosting technology and innovation at Beyond Bank, in line with contemporary industry practices.

Q: Who will guide the technology department during this change?

A: Chief Operating Officer Wendy Den Hartog will temporarily oversee until a new CTO is in place.

Q: What are some significant contributions of Stevie-Ann Dovico?

A: Dovico substantially enhanced Beyond Bank’s technology framework, data approaches, and cybersecurity efforts.

Q: How has Beyond Bank received recognition for its technological progress?

A: Beyond Bank was highlighted as a finalist in the TechBest Benchmark Awards for its enterprise knowledge and change management platform.

Q: What is the process for recruiting the new CTO?

A: Beyond Bank is pursuing both internal and external candidates to identify the right individual for the CTO role.

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DTA Excludes Key Government Technology Buyers from Vendor Conversations


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Government Technology Acquisitions: A Plea for Inclusion and Openness

Government Technology Acquisitions: A Plea for Inclusion and Openness

DTA omits government's largest tech purchasers from vendor discussions

Brief Overview

  • Significant government technology purchasers excluded from vendor discussions.
  • Contracts have resulted in $1.6 billion in cost avoidance but are under scrutiny.
  • Demands for the reinstatement of purchaser input in talks for improved terms.
  • Challenges regarding complexity and clarity in existing contracts.
  • Suggestions for enhancements and incorporation of emerging technologies.

Exclusion of Major Technology Purchasers

The Digital Transformation Agency (DTA) has conducted negotiations for whole-of-government technology contracts without input from large federal bodies, such as the Defence and the Australian Taxation Office (ATO). This exclusion has sparked worries about the efficacy of these contracts, with some agencies believing they might secure superior deals independently.

Cost Avoidance Versus Actual Savings

Although the DTA claims an estimated $1.6 billion in cost avoidance over a five-year span, the real savings are challenging to measure. The lack of transparency and the absence of key stakeholders in negotiations have been pointed out as major concerns.

Advocacy for Clarity and Transparency

Agencies have voiced their need for more straightforward and transparent contracts. The prevailing complexity complicates the assessment of deal value for purchasers. The report advises that negotiations should encompass the entire lifecycle of technology, including continuous support and upgrades.

Improvements and Future Perspectives

The report proposes several enhancements, such as incorporating new vendors like Google and Adobe into contracts and including emerging technologies. It also recommends introducing standardized cybersecurity clauses and clarifying sovereign hosting requirements.

Conclusion

The DTA’s current strategy regarding government technology contracts has faced backlash for sidelining major purchasers from negotiations, prompting calls for increased inclusion and transparency. While cost avoidance has been recorded, the real value of these contracts remains uncertain. The report delineates several recommendations for enhancement, seeking to improve the effectiveness and transparency of future initiatives.

Q&A

Q: Why are significant government technology purchasers excluded from negotiations?

A: The DTA replaced the engagement of major purchasers with a senior executive service sponsoring committee, effectively cutting these stakeholders out of the negotiation process.

Q: What is the estimated cost avoidance achieved through these contracts?

A: The DTA estimates a $1.6 billion cost avoidance over five years, although actual savings are tougher to pinpoint.

Q: What enhancements are suggested for the current contracts?

A: Suggested improvements include simplifying contracts, including additional vendors, addressing technology lifecycles, and instituting standardized security measures.

Q: How can clarity in these contracts be enhanced?

A: Enhancing clarity could involve increased stakeholder involvement in negotiations, clearer pricing frameworks, and improved tracking of technology application and savings.

Q: Are there intentions to incorporate new vendors into upcoming contracts?

A: Yes, the report advocates exploring new contracts with vendors like Google and Adobe, which have agreements at the state level but not at the federal level.

Q: How does the report propose addressing emerging technologies?

A: The report advises revising existing contracts to include emerging technologies that were not accessible at the time the agreements were originally forged.