Carrington Clarke

I think other companies are going to be doing this quicker.

And it also has ramifications for Australian technology companies because, again, it goes to the heart of how quickly this technology is becoming superseded and perhaps some of the contracts that the big banks had with service software as a service providers that perhaps they are in trouble because –

We are seeing the banks using artificial intelligence and maybe they're using it to tailor their own types of software or agents, whatever it might be, which means they won't have the same appetite to buy software as a service as they did previously, perhaps.

But I'm also fascinated by...

potentially, the negative effects of artificial intelligence on these big banks.

Now, we know with what's been happening with Mythos, this is the next AI model that has been seen as so potentially dangerous that it was given first to a selection of companies so that they could

fix their own holes in their defenses because the anthropic says that mythos was so powerful at seeking out faults in different platforms that actually they wanted to give these technology companies, banks, et cetera, over in the United States in particular, time to work it through on their systems.

But do we know much about how the banks are going to respond here in Australia?

Because obviously this is going to be a major issue here as well.

Yeah, absolutely.

I think that catastrophic risk of someone going after Australia's financial systems is something that the regulators need to be keeping an eye on, but also the individual institutions have to have their own plans to deal with it.

But I think they see

utilizing AI as much as possible as being a type of defense against potentially AI being used in a nefarious or malicious way against them.

So it'll be interesting to see how this story plays out.

I also think they're going to have to spend a lot of money investing in this in order to make sure that they are at the cutting edge.

Now, as is always the case, we've got new data out from the last weekend's auctions.

We talked about the auction clearance rate.

So this is the percentage of homes that are up for sale at auctions that actually they are successfully able to find a buyer, you know, with the expectations or

the desires of the buyer and the seller meet.

Now, we have seen this trend in recent weeks of the auction clearance rates continuing to trend down and we're mainly focused on Sydney and Melbourne when we look at these numbers because they are the ones where the usual way of selling a property is through the auction.