Like TD Bank, the Canadian Imperial Bank of Commerce is openly interested in artificial intelligence technology.
CIBC announced this week, for example, a strengthening of its relationship with the Vector Institute.
The Vector Institute is a nonprofit corporation dedicated to advancing the field of AI through research and application.
CIBC is a founding sponsor of the Vector Institute, and since its inception in 2017 has played an ongoing role in helping to advance Canadian AI research.
Examples include when the bank participated in Vector’s Dataset Shift Project, an industry-academia collaboration in response to impacts of the Pandemic, and an AI Research: Trustworthy AI & MLOps panel featuring Vector, which explored principles to guide the ethical development and management of AI systems.
“Vector has collaborated on a number of AI projects with CIBC over the years and witnessed the bank’s unwavering commitment to innovation through the adoption of leading-edge AI tools and methodologies and by providing learning opportunities for talent that enhance the client experience,” stated said Cameron Schuler, Chief Commercialization Officer for the Vector Institute. “We are thrilled to be growing our strong partnership.”
The enhanced partnership will forward CIBC’s momentum in AI talent development while furthering its commitment to the AI ecosystem, according to Dave Gillespie, who serves as Executive Vice President of Infrastructure, Architecture, and Modernization at CIBC.
“At CIBC, our AI strategy is underpinned by a commitment to up-skilling our workforce and fostering a culture of innovation and continuous learning,” Gillespie said. “This includes a focus on AI research and training for team members including senior leaders, to ensure that the entire organization is equipped to leverage the benefits of AI creating a better client experience, supported by our Trustworthy AI governance framework.”
To align with its AI talent strategy, CIBC will expand its access and support for a range of programs provided by Vector, including professional development for employees and ongoing guidance and technical learning to “generate career opportunities within the bank.”
“As we look to the future of this field, there continues to be so much potential for innovation,” Gillespie stated. “Deepening our relationship with Vector at this time is an important and proud next step in CIBC’s commitment to AI learning and research.”
One of Canada’s “Big Five” Banks, CIBC boasts 14 million clients worldwide.
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