The partnership focuses on Australian financial AI solutions and provides opportunities for UNSW students and researchers.
UNSW Sydney and Australian financial services company AMP have announced a strategic partnership to advance the real-world application of artificial intelligence (AI) in financial management. The Alliance aims to provide practical and responsible solutions to help Australians retire with greater financial confidence.
The partnership combines AMP's experience in superannuation, banking and financial advice with UNSW's globally recognized expertise in AI research, engineering and ethics.
UNSW vice-president and President Attila Brungs said the partnership demonstrates how universities can translate cutting-edge research into real-world solutions.
“By combining UNSW's strengths in artificial intelligence, data science, business, law and technology with AMP's financial services reach and expertise, we help shape AI solutions that are practical, scalable and beneficial to society,” Professor Brungs said.
“Together, we also create valuable opportunities for students and researchers to gain practical experience and contribute to the technology that defines the future of Australia's work, finances and everyday life.”
Global Leader in AI Expertise
This partnership draws expertise from UNSW's Faculty of Engineering, Business, Law and Justice and coordinates through the UNSW AI Institute. As Australia's largest AI research institute, the institute brings together hundreds of experts in machine learning, data science and related fields. It also plays the role of a national leader in promoting responsible use of AI and accelerating the commercialization of AI research.
Director of UNSW AI Institute Dr. Sue Keay said the partnership reflects the university's commitment to advances in applied AI research.
“Through this agreement with AMP, we will provide students, researchers and academics with the opportunity to tackle real-world challenges while also creating a pipeline of skilled talent for the financial services sector,” she said.
“As a national leader in responsible AI, UNSW is proud to lead the development of technology that is transparent, fair and in line with social values. This leadership will help ensure that the partnership has innovation and lasting positive impact.”
Transforming financial services
The activities of the UNSW-AMP Partnership focus on four strategic priorities:
- Advances in AI capabilities: Joint development of innovative AI solutions.
- Advocating responsible AI: Promoting ethical and accountable AI practices.
- Development of future AI talent: Provides industry-led experience to students to build a skilled and diverse AI workforce.
- Empower people: equip AMP employees with AI tools and training.
This collaboration promotes collaborative research, student placement, shared learning sessions and competitive grant applications. UNSW will also enable broader engagement through the Australian School of Management (AGSM), the Australian School of Engineering (AGSE), and the Faculty of Computer Science.
The agreement also uses AMP's AI Center of Excellence. It incorporated generated AI throughout the organization, providing AI-driven innovations across the organization, providing customer service, employee efficiency and the entire advice process.
AMP CEO Alexis George said AI offers a huge opportunity to change the financial industry.
“I have an absolute certainty that AI will change not only how we function as a financial service, but more importantly how we help more Australians build economic trust,” she said.
“This includes using generative AI with agents in a responsible way to solve some of the fundamental challenges faced by society so that financial illiteracy and the growing number of retirees can live with dignity.
“This means being open to recognizing the timeless value of human connection and exploring the key possibilities AI offers. As we criticize these possibilities, it means acting ethically and responsibly to protect our customers and the wider community.
