Comment by Nuno Matos

Should large-scale job cuts of up to 50% emerge, we’ll have a crisis and it’s not going to be in Australia, it’s going to be a global crisis. [...] This is one of the few examples where I would say some global regulation is needed to make sure that society does not go into trouble. [...] I hope that obviously the world and the administrations are capable of cooperating and ensuring that this technology does not create a social problem at a global level. [...] AI has a dark side. Wide adoption of AI without having the adequate guardrails — it’s a big problem. No banks should be building AI without building the right controls.