Driving Innovation through Technology

Over $3.7 trillion is invested in the Australian superannuation industry.
With approximately 24 million superannuation accounts active in 2024,
it is the most important investment many people will make in their lifetime.

This report explores how technological advancements, particularly in AI and
Automation, are reshaping the Australian superannuation industry.

Below are the key focus areas:

How are AI and Automation reshaping the Australian superannuation industry?
In what ways is innovation driving operational efficiency and improving member experiences?
How are AI-powered data analytics and automation improving administrative tasks?
How are personalised services being used to enhance member engagement.
How are generative AI technologies like ChatGPT and Microsoft Copilot being adopted in superannuation funds?
How are these technologies streamlining processes and providing tailored financial solutions?
How are superannuation funds leveraging AI to comply with regulatory requirements and deliver better outcomes for members?

For example, did you know…?

73% of Australian superannuation funds are investing in data transformation, while 70% are focusing on automation to drive efficiency and innovation.
Within just two months of its launch, OpenAI’s ChatGPT reached over 100 million monthly active users, highlighting the rapid adoption of AI technologies globally.
AI-powered automation in the superannuation industry is helping to automate repetitive tasks like password resets, improving customer service efficiency, and freeing up resources for more personalised member support and financial advice.