Investments

27 August 2026

Amazon's Matt Garman gives his tips for making Artificial Intelligence work for business and unlock productivity

Amazon Web Services Chief Executive, Matt Garman, has a simple message for Australian businesses on implementing a simple artificial intelligence strategy - start small, experiment often and learn by doing.

Speaking with NAB Group CEO, Andrew Irvine, at the recent NAB Business Summit in Melbourne, Mr Gorman said Artificial Intelligence (AI) was moving faster than any technology shift he had witnessed during two decades in the industry.  

While much of the public discussion around AI has focused on the race to develop increasingly powerful models, Mr Garman believes the biggest economic opportunity lies elsewhere.

“The encouraging thing is that countries don't need to build frontier models themselves to benefit enormously from them,” he said. “Most of the value won't come from the models alone. It will come from the businesses and experiences built on top of those models.”  

According to Mr Garman, AI is helping organisations rethink how they operate, improve customer experiences and unlock new levels of productivity. What began only a few years ago as experimentation is increasingly delivering measurable business outcomes.

He pointed to Australian health technology company Heidi Health as an example. The business identified that doctors were spending more than two hours a day on administrative work and paperwork. By developing AI-powered tools, it has been able to support healthcare professionals across 190 countries while saving an estimated 50 million hours of doctors’ time, allowing them to focus more on patient care.  

Mr Garman says examples like these demonstrate why businesses cannot afford to take a wait-and-see approach.

“This isn't a technology that organisations can ignore for five years and revisit later,” he said. “The pace of development is simply too fast. Businesses need to engage now because the competitive advantages are already emerging.”  

The conversation also explored how organisations can balance innovation with security and governance, particularly in highly regulated industries.

Mr Garman said security concerns often become the focus once companies move beyond AI trials and begin applying the technology to real customer data and business processes. The answer, he said, is creating environments where employees can confidently experiment within clear guardrails. 

“If employees are worried about leaking data or breaching compliance requirements, they'll hesitate,” he said. “If you provide secure environments, strong guardrails and clear controls, people are far more willing to experiment and innovate.” 

Mr Irvine agreed, highlighting how NAB is using AI to strengthen its own security capabilities, including equipping specialised teams with AI tools to identify vulnerabilities faster and improve defences in real time.  

The discussion also focused on one of the biggest questions surrounding AI: its impact on jobs and the future of work.

Despite concerns that AI could replace workers, Mr Garman said he remains optimistic about employment prospects, provided people are willing to continually learn and adapt. 

“My view is that there will continue to be plenty of jobs, but people will need to learn and adapt,” he said. “The skills that made someone successful four years ago may not be the skills that make them successful two years from now.” 

Rather than eliminating work, Mr Garman believes AI will increasingly change the nature of many roles. He pointed to software engineering as an example, where AI is already taking over parts of the coding process and allowing employees to focus on designing systems, solving problems and directing multiple AI tools towards a common outcome. 

Mr Irvine said NAB has already seen substantial productivity gains from AI-assisted software development. Some teams are using agentic AI tools to dramatically increase output, with the biggest improvements coming from employees who rethink how they approach their jobs rather than simply using AI to perform existing tasks faster. 

The technology is also lowering barriers for smaller businesses. Where sophisticated digital products once required large teams and significant investment, Mr Garman said AI now allows small groups to achieve outcomes that previously would have required hundreds of people. 

That democratisation of technology is one reason he remains particularly excited about AI’s long-term impact.

For business owners who are still unsure where to begin, Mr Garman’s advice was simple. 

“The biggest piece of advice is simple: start,” he said. “Whether you're a two-person start-up or a century-old organisation, nobody begins with a grand-scale AI transformation. Everyone starts by experimenting.” 

He encouraged businesses to identify repetitive, low-value tasks such as preparing documents, generating quotes or responding to customer enquiries, and look at where AI might save even a few hours each week. 

“Be willing to experiment, make mistakes and learn,” he said. “Even saving five hours a week can be meaningful for a business. Repeat that success in a few areas and the gains become substantial very quickly.” 

For Australian businesses, the message was clear: AI is no longer a future consideration. The opportunity is already here, and those willing to embrace a mindset of learning and experimentation stand to benefit the most.

To discover more call 1300 683 106 or email us on investordesk@nab.com.au

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