AI Transforms Insurance, Mining and Finance Sectors

Major Australian companies are adopting artificial intelligence to increase productivity, though the shift is also changing the nature of traditional jobs.

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Pick & Scroll News
June 03, 2025

Major Australian companies are adopting artificial intelligence to increase productivity, though the shift is also changing the nature of traditional jobs. From real-time claim approvals to autonomous vehicles in mines, AI is helping streamline operations and boost revenue, but it may have lasting impacts on the workforce.


Leading organisations in sectors like insurance, banking and mining are already putting AI into practice in meaningful ways. One large insurer is using real-time weather data and satellite imagery to predict damage and accelerate claims. Mining company BHP is applying AI to improve copper production and identify new deposits. Banks are now using generative AI to review complex documents, cutting loan approval times from days to minutes.


These businesses are not experimenting with AI, they are scaling it rapidly. During one severe weather event, an insurer used AI to process 7,000 food spoilage claims and transfer payments to customers in just hours. BHP has reported $200 million in added value from real-time optimisation systems. A major bank says AI has reduced corporate loan processing times by a full day. According to CIOs and CTOs, success comes from focusing on real and measurable outcomes, not on running pilot programs.


The shift isn't only about the technology, it is also about people. AI adoption is driving major retraining efforts. Insurers are moving employees from call centres into data-related roles by partnering with training providers. In mining, manual truck operations are being replaced by autonomous alternatives, but this is creating new positions in analytics, engineering and remote operations. Companies emphasise that AI is not eliminating staff, it is changing the kind of work they do.


AI is becoming integral to how large businesses operate across industries. While it is improving productivity and speeding up decision-making, it also raises important questions about how job roles will evolve and how fast companies can adapt their workforces. Whether AI empowers teams or leads to job losses will depend on how companies manage the transition.