I looked at the CBA report in 1997, an era before internet banking. ROE was 13% which is the same as it was in 2024. Did internet banking drive increased profitability, no. Did it increase efficiency for the user, yes, but at a cost. How many software engineers did CBA employ in 1997. How much money did they spend on development and upkeep of software. The switch to internet banking was a necessity as the world moved online.
AI technology will be very expensive to develop/buy and to upkeep. Why will AI increase profitabiltiy when internet banking did not?
CBA Price at posting:
$156.58 Sentiment: Sell Disclosure: Not Held
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