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    Home»Fintech»Major Bank Joins CDL Program to Realize ‘Transformative Potential of AI’
    Fintech

    Major Bank Joins CDL Program to Realize ‘Transformative Potential of AI’

    August 7, 20242 Mins Read


    Creative Destruction Lab this week announced a strategic collaboration with a Big Five Bank.

    The collab with CIBC is oriented around artificial intelligence, according to Sonia Sennik, chief executive of CDL.

    AI is simply too important to not focus on, she says.

    “Over the past two years, we have witnessed a Cambrian explosion of off-the-shelf AI solutions, shifting the challenge from scarcity to prioritization,” Sennik stated.

    CIBC is joining CDL’s “Putting AI to Work” program.

    “We are thrilled to welcome CIBC to CDL’s Putting AI to Work Program,” Sennik said, “and empower the bank to select and rapidly implement the best AI solutions and ensure tangible productivity gains.”

    As a participant in CDL’s AI program, CIBC will be part of a cohort consisting of organizations from sectors across the Canadian economy, all focused on integrating AI across their businesses to do more for stakeholders.

    “Working with Creative Destruction Lab gives CIBC a unique opportunity to work with industry leaders in furthering our approach to AI and how it can be leveraged to deliver against our client-focused strategy,” commented Dave Gillespie, Executive Vice-President of Infrastructure, Architecture and Modernization at CIBC.

    The cohort will participate in a 12-month program designed to facilitate the development and sharing of best practices within the Canadian AI ecosystem.

    “This collaboration is a progressive next step in CIBC’s commitment to recognizing the transformative potential of AI, and we are proud to be working with CDL as we continue to integrate this technology into our operations to better serve our clients and improve efficiencies,” he added.

    In another commitment to AI, CIBC recently expanded its partnership with the Vector Institute, a nonprofit corporation dedicated to advancing the field of AI through research and application.

    The company is also actively advancing AI adoption in-house with a promise to hire more skilled tech talent this year.



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