AustralianSuper chief operating officer Mike Backeberg has urged workers to embrace artificial intelligence and develop skills using the technology, warning those who fail to adapt risk being left behind as large language models (LLMs) rapidly evolve.
Large superannuation funds, banks and financial services firms have all been ramping up investment in AI capabilities as they look to improve operational efficiency, member engagement and data analysis, while also navigating governance, cybersecurity and regulatory risks linked to the technology’s rapid adoption.
Speaking during the Bloomberg Forum in Sydney on 19 May, Backeberg said AI was already reshaping workplaces and careers, with individuals needing to become comfortable using the technology as its capabilities continued to advance.
“With a lot of research going on around the state of AI at the moment, many of these developments are still in their early stages,” he said.
“But if you look at where some of the research is heading with large language models, that is going to change again. What we need to consider, both as individuals and as colleagues, including within organisations like AustralianSuper, is how we make sure people are getting the same information and continuing to create value as the technology evolves.”
Backeberg said workers effectively had two paths available to them as AI adoption accelerated across industries.
“You can either embrace it, learn the skill and become effective at using it, or you can choose not to,” he said.
“One pathway is likely to lead to a better career, while the other will probably leave people constantly trying to catch up.”
Backeberg said he wanted to see more people actively engage with AI technologies rather than avoid them because of uncertainty around how the tools would develop.
“I really want to see everybody on the pathway where they are learning and embracing the idea of what AI is at the moment and what it could become,” he said.
“We are going to see where those opportunities lead, and then make decisions from there. The important thing is becoming comfortable with the technology and understanding how it can be used effectively.”
The comments come as AustralianSuper ramps up its own investment in AI and automation capabilities, including appointing Sarah Carney as the fund’s first head of AI and automation.
Carney joins from Microsoft, where she spent a decade, most recently serving as national chief technology officer for Australia and New Zealand. Backeberg said the appointment marked a significant step in AustralianSuper’s technology strategy and broader digital transformation agenda.
“Sarah has over two decades’ experience leading digital transformation, AI strategy, and enterprise-scale change programs globally,” he said.
“Having someone of Sarah’s calibre join our team is a demonstration of our determination to use technology to its fullest capability to deliver for members.”
Backeberg said the $365 billion fund had already integrated AI and automation across parts of the organisation and was now focused on scaling those capabilities responsibly.
“At AustralianSuper we are looking to align autonomous agents with human intent, embed guardrails without killing momentum and turn experimentation into repeatable scaled outcomes,” he said.
“This means addressing how AI flows through the organisation, finding ways for humans and machines to collaborate at scale and making sure that governance is fit for purpose.”
Carney, who will join the fund in late July, said AI and automation would play an increasingly important role in improving member outcomes and operational capability.
“In my most recent role I have had a front row seat seeing the incredible development and growth of AI and automation globally,” she said.
“Finding new ways to apply both automation and AI to support AustralianSuper’s purpose of having members achieve their best financial position in retirement is an opportunity I am really looking forward to.”
She said the technology could support more personalised member guidance and advice, enhance investment insights and improve service delivery across the fund.
AustralianSuper also announced it had appointed partner Ignition to begin rolling out digital advice options for its 3.6 million members in the second half of this year, with the fund aiming to release all digital advice journeys during the 2026–27 financial year.
Large superannuation funds, banks and financial services firms have been increasing investment in AI capabilities as they seek to improve operational efficiency, member engagement and data analysis, while navigating governance, cybersecurity and regulatory risks linked to the technology’s rapid adoption.
