BNZ’s books take $352m hit as bank accounts for fact AI is seeing software age increasingly quickly

🌐 New Zealand Herald (NZ) —
BNZ’s books take $352m hit as bank accounts for fact AI is seeing software age increasingly quickly

AI Summary

BNZ faces a significant hit of $352 million on its financial statements due to a change in accounting treatment for software. This adjustment reflects how AI advancements are causing software to age more rapidly.

Change of accounting treatment of software has $352m impact on BNZ's books.

Markets AI & Tech BNZ accounting AI software

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