“I wanted to ask what specific strategies, if any, are currently in place to protect existing staff from being replaced by artificial intelligence, and also from jobs being moved overseas,” she asked.

“We believe that engaging with employees and working to develop and retain their skills is very important, and it is a definite focus for us as we move forward,” Comyn responded.

Matt Comyn, the Commonwealth Bank’s CEO and managing director, acknowledged that the bank faces difficult decisions that sometimes affect its workers. Source: AAP / Darren England

The bank posted a record profit of $10.1 billion in the year to 30 June, a figure Comyn previously said could have been higher if it had better leveraged the possibilities from AI.

“Fifteen years ago … we didn’t do everything on our phones.”