Friend,

Does it make me a bad person that I am loving the "Deloitte charges government $440,000 for report with AI hallucinations" story?

Let's see why it's such a good yarn, and why it's worthy of our attention in this dialogue you and I are having ...

1. Deloitte's brand strength, like all big brands, makes the story more newsworthy.

2. AI is already massively newsworthy... fear, curiosity and even anger are story vectors.

3. We have the delightful and ridiculous juxtaposition of a brand that should = quality, billing taxpayers, a sum that's half an apartment price, for made up crap.

So what are those headlines?

"Deloitte’s dodgy report a sign of times as AI use ramps up" (SMH today)

"Deloitte’s repayment fee for botched AI report revealed" (AFR today)

"AI scandal not enough to stop Canberra’s addiction to Deloitte" (AFR yesterday)

"Deloitte to pay money back to Albanese government after using AI in $440,000 report" (The Guardian, Monday)

Of course the real front page isn't those headlines. It's the front page of our favourite search engine (see mine below as of nowish), or, unironically, what we are served by our favourite AI tool.

Can't wait to see if ChatGPT, later, also hallucinates about it's own role in this saga.

Join me on Monday 27 October at 2pm for my second webinar on AI in corporate affairs and PR for financial services, investment businesses and real estate players.

You'll hear:

1. Five ways to protect your brand using AI tools

2. How other senior comms and marketing people are already using AI

3. How to put in place data governance, privacy and ethical AI use practices 

Hit reply or here to save your place.

Best,

Carden

On our radar

Policy and regulatory developments that may shape your risk or return

ASIC clears Cboe Australia to compete with ASX
In a lesson about what happen if you get your core business sufficiently wrong, ASIC has approved Cboe Global Markets’ Australian arm to operate as a listing venue, not just a trading platform — a move set to break the ASX’s near-monopoly.

RBA flags external shock risks in Financial Stability Review
The RBA’s October 2025 Financial Stability Review warns that global tensions, higher borrowing costs, and offshore credit stress pose mounting spillover risks for the system. It cautions that elevated household leverage and commercial property exposures could amplify any downturn.

APRA Annual Report flags system-wide stress and expanding remit

APRA’s 2024–25 Annual Report highlights heightened supervisory intensity across banks and super funds, with new stress-testing programs to assess liquidity and market shocks. The regulator also tightened cyber and governance expectations, confirmed the phase-out of AT1 capital instruments, and signalled an expanded role overseeing payments and stablecoins.

This week's market movers

Big plays, bold bets, and (occasional) unconfirmed speculation

• Gold set to overtake LNG as Australia’s second-largest export: Soaring bullion demand and record global prices are set to make gold Australia’s second-biggest export earner in 2025–26, ahead of LNG.
• ANZ job cuts under Fair Work scrutiny: FSU will challenge ANZ’s plan to cut around 3,500 roles and 1,000 contractors at the FWC on 13 October.

Best,

Carden | she/her (here’s why that matters @work) 

WINNER: PRIA LEADER OF THE YEAR 2022

FINALIST: PRIA LEADER OF THE YEAR 2023

FINALIST: B&T LEADER OF THE YEAR 2023