New AI tools continue momentum of delivering on client-focused strategy and streamlining processes

TORONTO, Aug. 15, 2024 /CNW/ - CIBC today announced the launch of two new AI-driven tools, CIBC AI for team members, and GitHub CoPilot for its developer community, to put more tools in the hands of CIBC team members to deliver on the bank's client-focused strategy.

CIBC AI is a cutting-edge Generative AI platform designed to foster innovation, and drive productivity improvements throughout the organization. This custom-built GenAI tool has been designed by CIBC from the ground up to support team members with a task-driven design approach by providing access to multiple powerful language models, allowing the bank's workforce to automate regular recurring tasks and focus their time on higher-value, client-centric activities. For example, team members can quickly summarize documents, generate post-meeting support materials or help draft emails and other text-based content.

"We continue to identify opportunities to use Generative AI tools thoughtfully across our bank to help deliver on our client-focused strategy," said Dave Gillespie, Executive Vice-President, Infrastructure, Architecture and Modernization, CIBC. "We have a clear governance framework in place to guide the development and use of AI, which enables us to put more AI-powered tools in the hands of our team to enhance productivity and open up new opportunities to deliver for our stakeholders."

The pilot phase of CIBC AI launched in late July with an initial group of bank employees covering all lines of business across Canada, US and the UK. This pilot phase will provide the bank with significant data insights that it will use to support broader rollout plans.

The bank also announced today that it has selected GitHub CoPilot for a broad rollout to the bank's developers. GitHub CoPilot assists developers by providing code suggestions, automating repetitive tasks, and enhancing overall coding efficiency. This tool has proven to be invaluable in accelerating development cycles and improving code quality, making it an essential asset for our developer community.

"Our GitHub pilot programs demonstrated a 10-15 per cent boost in productivity among our developer community working on various systems across the enterprise," said Richard Jardim, Executive Vice-President and Chief Technology Officer, CIBC. "This increase in efficiency will enable us to deliver innovative solutions more rapidly, ultimately enhancing the overall experience for our clients."

About CIBC

CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.

SOURCE CIBC