In an age of rapid technological advancement, the integration of Artificial Intelligence (AI) into our daily lives is becoming increasingly common. We see it in everything from our home assistants to the complex algorithms that power financial institutions. Recently, Commonwealth Bank (CommBank) announced a strategic partnership with OpenAI, the creators of ChatGPT, to enhance their banking services. This move has prompted a critical question: can we truly trust AI with our sensitive financial data?
However, the question is perhaps not about the technology itself. At its core, AI is a sophisticated statistical tool, a vast database with an interface that allows for complex queries. The real question we should be asking is: can we trust the company that controls this technology and, by extension, our data?
A Closer Look at OpenAI
When we examine the history of OpenAI, several points of concern arise that may cause us to think twice about entrusting our data to them.
- Copyright and Data Provenance: OpenAI has faced accusations of using copyrighted material to train its models without permission, which it has denied. This raises questions about the ethical sourcing of the data that underpins its technology.
- From Non-Profit to For-Profit: Originally established as a non-profit organisation, OpenAI later transitioned to a for-profit entity. This shift in structure can alter a company’s priorities, moving from a focus on the public good to a focus on shareholder returns.
- Acknowledging the Origins of AI: While OpenAI has popularised AI, it is important to remember that the foundational “transformer” architecture was developed and released by Google.
- Data Security Incidents: There have been instances of vulnerabilities in OpenAI’s systems that have led to the leakage of user data. Furthermore, the company’s default policy of using customer data to train its models has resulted in incidents such as the Samsung code data breach.
- Internal Concerns: Some prominent researchers have departed from OpenAI, citing concerns that the company is not prioritising the safe and ethical development of AI.
Considering these facts, trusting OpenAI with your data could be likened to trusting a partner who has changed the rules of the relationship without your consent, used your assets for their own gain, and then asked you to pay for the privilege of using what was once yours.
CommBank’s Decision and the Australian Consumer
Despite these concerns, CommBank has announced that it is moving forward with a partnership with OpenAI. According to a news release on their website, this multi-year collaboration will make CommBank OpenAI’s “strategic banking partner in Australia,” with the goal of exploring “advanced generative AI solutions that aim to strengthen scam and fraud detection and deliver more personalised services for CommBank customers.”
This decision places a significant amount of trust in OpenAI to handle the financial data of millions of Australians. For the everyday consumer, this may be a moment to pause and consider if this aligns with their own comfort level regarding data privacy and security. The question of whether it is time to seek a new banking institution is a valid one.
Alternatives in the AI Landscape
It is important to note that there are other providers of AI technology that have not faced the same level of scrutiny as OpenAI. Google’s Gemini, for instance, has been developed with a stated focus on data security, with the company purposely delaying the release of updated versions to ensure the platform is secure for all users.
Making the Right Choice for Your Data Security
The world of AI is complex and constantly evolving. For businesses and individuals alike, choosing the right AI tools is not just about functionality, but also about the trustworthiness and security practices of the company behind the technology.
If you are looking for guidance on how to navigate the AI landscape and select the tools that will keep your data secure, we are here to help. Contact the team at Vertex Cyber Security for expert advice and tailored solutions to meet your needs.