The University of Sydney Business School and Colonial First State (CFS) have entered a strategic partnership to launch the CFS Future AI PhD Internship Program, a new initiative aimed at accelerating the responsible development of artificial intelligence (AI) solutions and driving innovation in the wealth management sector. 

The program will embed University of Sydney doctoral candidates within CFS teams, combining academic research and industry expertise to prototype and test AI tools that help employees work more efficiently and harness new technologies. PhD students will contribute to four projects spanning investment, human resources, risk and compliance, and technical advisory. 

“These PhD internships are pivotal in fostering both learning and innovation. They provide our graduate research students from the University of Sydney Business School a unique opportunity to collaborate directly with Colonial First State on complex business projects. These projects emphasise the human-centered application of AI, effectively bridging the gap between theoretical research and practical business applications,” said Professor Leisa Sargent, Dean of the University of Sydney Business School.  

“This partnership reflects our commitment to building a future-ready workforce. By investing in emerging talent and exposing our people to cutting-edge research, we’re creating an AI-ready culture that will enable our teams to develop new capabilities which can lead to improved outcomes for our members and the financial advisers we work with,” said Shenaz Waples, Group Executive for People and Culture at CFS. 

The new partnership adds to the suite of internship and work placement opportunities available to University of Sydney Business School undergraduate and postgraduate students at companies including Nestlé, Hilti, Beiersdorf, and LVMH Perfumes & Cosmetics. The diverse placement opportunities contribute to strong graduate employability and bring the latest scholarly insight to bear on real world issues. 

“Internships like these are invaluable in providing our PhD scholars with new insights into complex issues facing business and society. They present a great developmental opportunity for our doctoral researchers to grasp how their research can be applied to deliver tremendous impact on business practice,” said Professor Eliza Wu, Associate Dean (Research Education) at the University of Sydney Business School. 

The program is part of CFS's AI strategy to improve experience for employees, members and financial advisers through the responsible use of AI and a culture of continuous learning.

Investment in people is central to the strategy with key initiatives including the AI Centre of Excellence and the Ignite AI Talent Program, which equip CFS employees with the skills to adopt and apply AI safely and effectively. 

“AI and cloud technologies are pivotal in our mission to help Australians achieve financial freedom. Our partnership with the University of Sydney brings deep technical capability into our teams. It’s about moving fast, solving real problems, and scaling innovation responsibly,” said Jeroen Buwalda, Group Executive for Transformation, Technology and Operations at CFS. 

The partnership builds on CFS’s existing relationships with leading technology providers such as FNZ, Tata Consultancy Services (TCS), Microsoft, Oracle and Avanade. Last year, CFS announced a multi-year agreement with Microsoft which underpins its use of cloud and generative technologies.