Big Five Bank Releases In-House Gen AI Tool to Empower ‘All Lines of Business’

The Canadian Imperial Bank of Commerce this week unveiled the official launch of an in-house generative artificial intelligence platform.

The new platform, CIBC AI, launched to help drive further productivity across the organization and enable team members to deliver on the bank’s client-focused strategy, according to a statement from the Big Five bank.

The bank launched a pilot for the AI tech in July of 2024, battle-testing the platform in Canada, the US, and the UK.

The pilot saw team members save a combined 200,000 hours of work through automation processes, according to Dave Gillespie, who serves CIBC as Executive Vice-President of Infrastructure, Architecture, and Modernization.

“It’s been tremendous watching the uptake of CAI across our bank and how it has helped simplify routine tasks for team members, better enabling them to focus on delivering value to our clients,” commented Gillespie.

Gillespie says CAI is custom-built by CIBC from the ground up to support team members with a task-driven approach, featuring a dashboard that allows users to navigate through various functionalities such as data analysis, research, and preparing presentations.

“What sets CAI apart is its adaptability to the unique needs of each team, from writing to research and analysis or even light coding suggestions, CAI has had a positive impact across all lines of business,” remarked the EVP.

Team members complete a training course in order to access CAI, which provides an understanding of CIBC’s approach to AI and data, Gillespie noted.

“Innovation has long been a hallmark of CIBC’s approach to meeting client needs, and we’re incredibly proud to take another exciting step forward in enhancing everyday experiences for our team members,” he stated.

Last year, CIBC joined Creative Destruction Lab’s “Putting AI to Work” program and  announced plans to fill 200 AI-related roles as part of the bank’s “commitment to recognizing the transformative potential of AI.”

Serving 14 million clients, CIBC is among Canada’s best workplaces to grow your career.