News

    Pandemic propels TD to speed up use of artificial intelligence

    TD Bank tower in Toronto in May 2019. Shutterstock
    article-aa

    The COVID-19 pandemic greatly sped up TD Bank’s adoption of artificial intelligence, pushing the financial institution to utilize artificial intelligence in all lines of its business in 2020, according to Tomi Poutanen, the bank’s chief AI officer. 

    “When the pandemic hit, we put our hands up and said, ‘How can we help?’ What the business needed was technology to identify which customers needed additional products, like mortgage deferrals, for example. That’s what we first jumped into,” Poutanen told The Logic on Wednesday. He is the co-founder of Layer 6, a startup that TD acquired in January 2018, reportedly for over $100 million, when it had just 16 employees. It has since grown exponentially, and now employs close to 60 people.

      Purchase a subscription to read the full article.

      By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.
      Already a subscriber?