AI is transforming banking, but the benefits come with a human cost. On this week’s Cyber Uncut, David Hollingworth and Daniel Croft examine Commonwealth Bank’s rise to become Asia-Pacific’s leading AI bank, alongside mounting job cuts across the sector. With banks struggling to guarantee job security and AI operating costs climbing, could some businesses soon find it cheaper to hire people than run the technology?
The cyber threat landscape is getting uglier, too. Two critical remote code execution vulnerabilities in PHP have put potentially millions of websites at risk, with outdated systems particularly exposed and AI accelerating the development of working exploits. The pair also examine how ransomware gangs are using AI to analyse stolen files and build more targeted extortion campaigns, while warning that online networks and AI-generated propaganda are contributing to radicalisation and real-world harm.
There are signs of progress amid the gloom. Westpac New Zealand is seeing growing adoption of open banking, giving customers more control over secure data sharing and payments. The hosts also explore the growing backlash against data centre developments, why community consultation matters, and Gartner’s predictions for 2027 – including the decidedly cyberpunk prospect of “wetware-as-a-service”, using biological systems for computing.
Tune in for the stories shaping the intersection of AI, business, and cyber security.
Enjoy,
The Cyber Uncut team
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