TD Bank Group this week launched a new Wealth Virtual Assistant.
TD’s latest digital assistant is a generative artificial intelligence Knowledge Management System built by the Canadian bank’s Layer 6 team.
The new fintech tool, designed for TD Wealth, is described by the bank as “a significant step in modernizing how colleagues access information, enabling faster support for clients.”
“The launch of the Wealth Virtual Assistant marks a major step forward in modernizing how we support our colleagues and clients at TD Wealth,” says Sara Thomson, who serves as Senior Vice President of the Wealth National Office for TD Wealth.
“As expectations for exceptional client service continue to rise, we’re equipping our colleagues with best-in-class tools to help them deliver even greater value to our clients,” Thomson stated.
The AI assistant encourages colleagues to prompt questions and find answers faster, according to TD’s chief of analytics and AI, Luke Gee, which can enable advisors to spend more time delivering personalized advice.
“Harnessing AI is central to how we’re building a simpler, faster, and more efficient TD,” says Gee. “The Wealth Virtual Assistant is a clear example of how we’re translating that strategy into action to improve how we work, deepen client relationships, and help drive sustainable growth through digital leadership and our in-house capabilities.”
The launch of the Wealth Virtual Assistant builds follows “significant investment in AI research and innovation,” according to a statement from TD.
Indeed, the Wealth Virtual Assistant is one of seven virtual assistants scheduled to be deployed across the Bank by the end of the year.
For example, the move builds on TD Bank Group’s earlier unveiling of TD AI Prism, a proprietary artificial intelligence foundation model that was built entirely in-house.
Layer 6, which functions as TD’s AI centre of excellence, was acquired by the bank in 2018 and currently operates out of Toronto’s MaRS Innovation District.
This year, a second Layer 6 office opens at One Vanderbilt in Manhattan.
TD is the sixth largest bank in North America with $2 trillion in assets and serves over 28 million customers.
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