This report provides a comprehensive exploration of the critical role data plays in enabling artificial intelligence (AI) within Australia’s financial sector. With AI projected to drive significant economic impact by 2030, this report discusses key challenges such as data readiness, integration, governance, security, and compliance. It offers actionable strategies for financial institutions to leverage both traditional and generative AI, ensuring they remain competitive, compliant, and innovative. Backed by real-world use cases and insights from DiUS, the report serves as a guide for institutions aiming to align AI with their business and regulatory goals.