CommBanks buys stake in H2O.ai to boost AI capabilities

CommBanks buys stake in H2O.ai to boost AI capabilities

The Commonwealth Bank of Australia (CBA) has announced that it has acquired a Silicon Valley AI company H2O.ai to help the bank to refine its customers connect.

Although it has not disclosed the size of its investment, the bank has been a leading investor in raising a $ 100 million H2O.ai growth grant for Series E. The CBA will also be an AI’s special financial services partner in Australia and New Zealand. This will give the black and yellow bank access to the H2O.ai AI cloud platform and a full-time team of machine learning engineers who will work within the bank to develop new AI solutions.

“Partnership will also diversify and expand our capacity for innovation to better meet customer needs, and rethink digital products and information to meet those needs,” said CBA manager Matt Comyn.

Read More: zdnet

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