Wall Street has suffered losses overnight, as worries that interest rates will stay higher for longer weigh on investors. Australian share might follow with muted trade.
Follow the day's financial news and insights from our specialist business reporters on our live blog.ANZ's chief technology officer Tim Hogarth says AI is currently helping ANZ staff quickly verify documents like pay slips and assess complex loan contracts."AI can now allow us to actually take information from documents and extract all of that meaning and cutting the amount of time it takes from hours and hours, down to sometimes mere seconds," Mr Hogarth says.
AI is also helping ANZ staff with other tasks: it can identify cases of financial hardship so they can interact with a customer before a situation gets dire and the customer may be forced to sell their home. And it can be used as an authentication tool to check people are who they say they are.The Dow and S&P both lost almost 1% while the tech heavy Nasdaq lost even more.US Federal Reserve has started cutting rates.