Three hard truths about AI every CEO and director needs to hear

Sally PattenBOSS editor
Aug 26, 2026 – 5.00am

In a recent survey of consumers by strategy consultant McKinsey, nearly a quarter of respondents said they used a generative artificial intelligence tool for financial tasks, such as budgeting or expense tracking, at least once a month.

Nearly two-thirds said they would consider AI features, which include asking a chatbot how much they spent on groceries in the previous month or when their credit card payment is due, when selecting a bank and 30 per cent of those who had recently switched banks used AI to help them make the decision.

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• BOSS
• AI
• Commonwealth Bank
• Telstra Corporation
• McKinsey
• University Of Sydney
• Deloitte

Sally PattenBOSS editorSally Patten edits BOSS, and writes about workplace issues. She was the financial services editor and personal finance editor of the AFR, The Age and the Sydney Morning Herald. She edited business news for The Times of London. Connect with Sally on Twitter. Email Sally at spatten@afr.com

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