Market Chatter: Westpac Teams Up with Accenture to Boost Bank Operations with AI Agents

MT Newswires Live

02/24

Westpac Banking (ASX:WBC, NZE:WBC) has partnered with Accenture to develop artificial intelligence-powered (AI) agents for tasks like loan processing and software programming, according to a Monday report by the Australian Financial Review.

These AI agents, go beyond chatbots by mimicking human decision-making and executing tasks autonomously, per the report.

Westpac has already implemented AI agents to help transition code from legacy systems to the cloud, reducing task time from six days to just one hour, the report added.

Accenture predicts productivity gains in the range of 20% to 30% percent for clients deploying AI agents.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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