Canadian Bank CIBC has announced plans to hire over 200 data and AI professionals in the next year to enhance its client-focused strategy.
The 200 new hires will concentrate on enhancing AI solutions throughout CIBC, which is actively developing various AI applications. With a longstanding tradition of integrating AI, CIBC already employs advanced AI models for risk management, fraud prevention and information security.
Additionally, these new hires will enable CIBC to operationalize AI at scale, enhance experiences for clients and team members and continue to build the governance and guidelines within which AI operates.
As Generative AI solutions advance, CIBC has launched several pilot programs incorporating GenAI features. Christina Kramer, Group Head of Technology, Infrastructure, and Innovation at CIBC, stated that AI will be integral to maintaining the bank’s client-focused growth strategy.
Kramer stated: “Now is the right time to add to our talent base through hiring and upskilling in data and AI-focused roles, as we leverage this new technology to do more for our clients and deliver a better experience for team members.”
In recent months, banks worldwide have been expanding their use of AI, resulting in the creation of new AI-related positions and increasing competition among banks to secure top talent.
In the UK, Lloyds Banking Group appointed Rohit Dhawan as Director of AI and Advanced Analytics to help the bank scale the technology earlier this week. In this newly established role, Dhawan will spearhead the Group’s AI Centre of Excellence,
Kramer added: “AI talent is in demand across the industry, and we have a compelling value proposition to join our strong team of professionals that have established AI capabilities inside our bank and built the right governance and structure around AI to ensure we’re using it thoughtfully to deliver on our business strategy.
“Adding to our data and AI teams is an opportunity to continue to transform how we work and interact with our clients, while enhancing our productivity and efficiency.”
