Cybernetics approach for more sustainable human-machine collaboration in banking apps 

Myrna Kennedy1

1 School of Cybernetics, The Australian National University, Australia

Many of the world’s leading banks, including Australian banks, are at the forefront of using Advanced Analytics and artificial intelligence (AI) technology through their smartphone banking application. AI simultaneously brings value to the business, opportunities, and challenges that should be holistically viewed and adequately addressed to all stakeholders. In financial institutions specifically, AI has driven a dramatic shift in how to attract and retain active customers (World Economic Forum, 2018). Organisations like banks need to leverage analytics and AI, including machine learning and deep learning to compete effectively and drive customer value, deliver a more personalised customer experience and develop innovative new propositions (Deloitte, 2017). 

Smartphone has transformed the way we do banking from traditional physical transaction to digital online transaction. In this article, I will explore human-machine collaboration in the smartphone banking application with the focus on the sustainability aspect. I will use Cybernetics system thinking to provide a new way of reimagining the future of this collaboration with essential information on the implications of technology and machines, humans’ responsibilities, and sustainability for our environment. Cybernetics gives us a way of looking back and considering the technological developments in the banking industry. Particularly the one using Artificial Intelligence (AI) in terms of their patterns and systems, making sense of the relationships and feedback loops between those systems, as part of understanding and improving how those systems functioned holistically.  

Many banks are now beginning to invest in long-term sustainable financing commitments based on the data they have on their customer’s spending habits. They can target suitable customers to offer and invest in more sustainable products to create a better community support, increase customer loyalty and their financial well-being. The important role of customers not only as a user but more importantly as the essential collaborator for the future of sustainable banking.  Customers use their smartphone banking apps for almost everything in their everyday life. From the simple financial transactions such as paying for online grocery shopping to more advanced transactions such as applying for more sustainable “green” home loan or using AI in the recommendation systems for more personalised services.  


Brüggen, E. C., Hogreve, J., Holmlund, M., Kabadayi, S., Löfgren, M. (2017). Financial well-being: A conceptualization and research agenda, Journal of Business Research, Volume 79, Pages 228-237, ISSN 0148-2963. Retrieved from:  

Cabinet Office, Government of Japan. Society 5.0. What is Society 5.0? Science and Technology Policy, Council for Science, Technology and Innovation.  Available at:  

Deloitte. (2017). Open Banking, How to flourish in an uncertain future, June 2017. Retrieved from: 

Johansson, H. (2017). Profinet Industrial Internet of Things Gateway for the Smart Factory. Retrieved from:  

Mehdiabadi, A.; Shahabi, V.; Shamsinejad, S.; Amiri, M.; Spulbar, C.; Birau, R. (2022). Investigating Industry 5.0 and Its Impact on the Banking Industry: Requirements, Approaches and Communications. Appl. Sci. 2022, 12, 5126.  Retrieved from:      

Tornjanski, Vesna & Knezevic, Snezana & Milojević, Stefan. (2020). Synergetic Effects of Integrated Collaboration Between Humans and Smart Systems in Banking: An Overview. Retrieved from: 

World Economic Forum. (2018). The New Physics of Financial Services – How artificial intelligence is transforming the financial ecosystem. Retrieved from: