Envisioning a client-focused, AI-enabled bank

There’s no question the speed of technology is moving at a faster pace than ever before. This isn’t surprising given the rapid advances we’ve seen over the past several years. But the capabilities and possibilities coming out of that are shaping a narrative of change, transformation and technological revolution unlike anything we’ve experienced before. A year ago, we shared about how CIBC is leveraging artificial intelligence (AI) to enable the future. Like many organizations across the financial services sector at that time, we were excited by the potential that new AI technologies represented. Since then, we’ve been working hard to responsibly harness these transformative tools to augment our teams, make banking easier for our clients, and modernize our bank. 

Already we’re seeing exciting results from our strategic investments and thoughtful approach to enable AI. We’re proud of the progress made, with over 100 AI use cases in production, enabling a multitude of capabilities like digitizing and analyzing unstructured data, crafting reports and summaries, and most recently our in-house GenAI tool, CIBC AI – or CAI. We’ve guided our approach using a thoughtful evaluation of risks and alignment with our strategic goals, ensuring that each use case delivers meaningful value to our clients and teams. 

Perhaps the most important thing we’ve learned, is that even though technology keeps evolving every day, the heart of our bank remains our clients and our team members.  

CIBC has spent the past year ensuring that our investments in technology are coupled with investments in our team. This remains a pillar of our approach to AI. We’ve launched required AI training for our leaders – including our most senior executives – to ensure they’re equipped to lead and drive our strategy forward with these new technologies available to us.  

Additionally, we launched training across our 48,000 team members to upskill every single member of our bank globally, teaching them the basics of how new Generative AI technologies work, ways to best leverage them and, of course, how to responsibly use AI and identify potential risks.  

Our commitment to responsible AI development and deployment was further demonstrated when CIBC became the first major Canadian bank to sign the Government of Canada’s Voluntary Code of Conduct on Generative AI earlier this year. This milestone highlights our dedication to ethical AI practices, governed by principles of fairness, transparency, accountability, and privacy, as we responsibly innovate to better serve our clients and communities. 

CIBC believes AI is going to continue to change the way we work as a bank. It’s not a matter of if – we’re already seeing it happen. We also firmly believe, now more than ever, that even though how we do things may change, our purpose as a bank will not. AI is enabling us to deliver on our commitment to clients by simplifying interactions, offering personalized experiences, and deepening relationships through tailored advice—all while maintaining the trust and integrity that define our bank. 

More broadly speaking, AI implementation holds immense potential to drive productivity gains and fuel economic growth, but its success hinges on a strategic approach that prioritizes purpose over novelty. We’ve embraced this philosophy by ensuring that our AI initiatives are guided by a clear vision of how they benefit our clients, teams, and stakeholders.  

Rather than adopting AI tools in search of a strategy to justify their use, we have focused on identifying the right tools for the right tasks, such as leveraging AI to streamline operations, enhance client experiences, and support our team members with innovative solutions like CIBC AI Chat and AI-powered fraud detection.  

These efforts reflect our commitment to thoughtful planning and rigorous evaluation, ensuring that AI solutions genuinely enhance operational efficiency and align with our long-term objectives. By adopting this measured and responsible approach, CIBC is not only improving its own performance but also contributing to broader economic advancements, demonstrating how AI can drive sustainable growth and innovation when implemented with purpose and accountability. 

For more examples of CIBC AI use cases currently in production, click here.