Transformative technology has the power to create significant change across key industries, and at CIBC, we view the continued advancements in artificial intelligence (AI) as an opportunity to transform how we work and interact with our clients.
As we prioritize integrity and trust in this digital era, we are also committed to identifying opportunities to use AI technologies in thoughtful and efficient ways to benefit our clients, teams, communities and shareholders. As a pillar of our bank’s strategic objectives, we’re consistently working through use cases to enhance our team’s experience, increase efficiencies, and automate more routine processes. One way we’re utilizing AI is to create a more efficient process for our frontline teams to access necessary information needed to best serve our clients.
At the heart of our bank’s purpose are our 48,000 team members, and we know that investing in our teams leads to more innovative, client-focused solutions. Through upskilling internal talent and acquiring new external talent, we are further developing our highly skilled and adaptable team to effectively harness the power of AI.
As with all technologies, understanding and managing risks is critical for responsible and ethical AI use. Our approach with AI is built on a foundation of responsibility, guided by our core principles and risk management frameworks, ensuring that our advancements in technology are matched with robust safeguards. In order to advance the evolution of our AI governance and risk management processes, CIBC has introduced Generative AI guidelines for all team members, a Generative AI Adoption and Oversight Council, and a pilot program to evaluate the ethical and responsible utilization of AI at our bank.
I’m proud to lead a purpose-driven team that is proactively, responsibly, and ethically using technology to enhance the experience of all stakeholders. Just as importantly, I’m encouraged by our progress as we continue to modernize our bank. We are very excited about how these new technologies can help us better serve our clients and look forward to further investing in our tools and talent related to AI.
