Commonwealth Bank of Australia (ASX:CBA) has started trialing "CommBank Companion," a generative artificial intelligence tool embedded in its mobile banking app that lets retail and business customers ask questions, track finances, and receive real-time insights to help manage spending, budgeting, and cash flow, according to a Tuesday statement by the bank.
The system enables users to understand and manage their finances through natural-language queries within a secure banking environment governed by strict privacy, safety, and risk controls.
The tool is initially being tested with employees and selected business banking customers, with wider customer testing planned, and is intended to support decision-making rather than provide financial advice or act on users' behalf.
The bank's shares fell 1% in recent Tuesday trade.