Following hot on the heels of Cbus, wealth management and superannuation firm Insignia has agreed to new protections for workers when adopting and making use of artificial intelligence (AI) technologies.

The new Enterprise Agreement (EA) guarantees that humans must always make the final call if or when an AI system is used in a decision-making process. Employees have also been promised full disclosure in how AI is used by the organisation.

The Financial Services Union (FSU), which backed the new EA, said it was “pleased” to have secured the deal, the second such agreement between a financial services organisation and its workforce regarding the use of AI.

Cbus earlier this month confirmed a first-of-its-kind EA agreeing to consult with staff on any changes that occur as a result of AI implementations, as well as outlining the technology’s potential impact on employees.

Insignia employees also agreed to an industry-first trial of a four-day work week (the parameters of which will be further negotiated with the FSU), as well as a 9.5 per cent wage increase over three years.

“Workers consistently tell us that they value workplace flexibility, and this agreement delivers significant improvements and will allow workers the ability to work in ways that suit them – including more time at home if that is their desire,” FSU National Secretary Julia Angrisano said.

“The acknowledgement by Insignia that a four-day week is an emerging trend and ought be trialled is an important step forward and win for Insignia workers. It will allow them to play a meaningful role in the evolution of workplace flexibility in our sector”

Angrisano concluded: “Workers will not only benefit from the conditions they’ve achieved but can be proud in setting a standard for others in the finance sector.

“AI and flexibility are important to our members and employers should be aware as they prepare offers that these clauses will become industry standards.”