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

Sally Patten BOSS 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. Loading... Save Log in or Subscribe to save article Share Copy link Copied Email LinkedIn Twitter Facebook Copy link Copied Share via... Gift this article Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Login License article Read More BOSS AI Commonwealth Bank Telstra Corporation McKinsey University Of Sydney Deloitte Sally Patten BOSS editor Sally 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 Fetching latest articles