AMP (ASX:AMP) CEO Blair Vernon has outlined three near-term priorities for the company, including speeding up growth in its wealth businesses, reaping more benefits from artificial intelligence, and a greater focus on capital allocation and organizational efficiency, according to a Friday filing with the Australian bourse.

The company plans to push for organic growth in its wealth division through customer acquisition and retention, as well as by expanding its adviser partnerships.

It will also embrace the AI opportunity, an area where "no business can afford to sit on the sidelines," Vernon said.

"AI has been part of our business for nearly three years, and we need to continue to move fast to meet the accelerating pace of change," the executive said.

He added that AMP Bank will place a greater emphasis on optimizing its balance sheet to release additional capital for shareholders.

AMP shares gained 2% in recent Friday trading.