This move could reshape how companies manage back-office operations.
The bank is working with artificial intelligence start-up Future Secure AI to pilot a new generation of digital workers. These AI-powered avatars are tailored for specific job functions and are designed to work alongside human employees. While promising greater productivity and cost reduction, the initiative raises concerns about job displacement and the limitations of AI in handling complex, human-centred decisions.
This is one of the first significant steps by an Australian bank to embed fully autonomous AI systems within its internal workforce. Future Secure AI, which remains relatively low-profile, aims to integrate human workers with AI avatars that learn and collaborate. The start-up claims its technology can increase productivity tenfold. It is currently hiring staff in various countries, including Brazil and Australia, and is operating under a joint venture with a global investment bank now identified as Macquarie.
Future Secure's technology differs from standard generative AI. Rather than producing content in response to prompts, its "agentic workers" can handle entire workflows without constant direction. These avatars, each with a name and a digital face, assess situations, make decisions, and complete tasks with oversight from human supervisors. The system is most effective with standardised, repeatable processes but still struggles with judgement-based decisions that require empathy or specialised insight.
Macquarie has not revealed how much it is investing but states that the trial will help staff complete routine work more efficiently, allowing them to focus on tasks that require strategic thinking. The technology could help reduce operational costs over time through natural staff turnover, rather than job cuts. Although at an early stage, it may streamline processes, lower error rates and shift how work is divided between humans and machines.
Other banks are also exploring AI solutions, with some linking job reductions to automation rollouts. However, some early efforts have failed. One major bank was recently forced to rehire employees after a bot-powered support service failed to meet expectations. This led to public backlash and regulatory scrutiny.
As Macquarie expands its use of AI, the wider banking industry will be paying attention to the results. Whether digital avatars become a permanent fixture in back-office operations or a temporary trend remains to be seen.
