CIBC Generative AI pilot enables frontline team members to better serve clients

Pilot demonstrates it's easier and faster for team members to access the information they need to respond to client questions 

TORONTO, July 16, 2024 /CNW/ - CIBC today announced it is expanding a Generative AI (GenAI) pilot aimed at enhancing team members' experience in using its central information hub, Knowledge Central, to serve clients. The expanded pilot will use a Chat-GPT-like interface to make it easier for team members to get the information they need to answer questions quickly and accurately, empowering them to deliver a positive client experience.

"At CIBC, we recognize the transformative potential of AI and are committed to integrating this technology into our operations to better serve our clients and streamline our processes," said Jane Yuen, Head of Enterprise Channels, CIBC. "This pilot is one of a number of use cases currently underway across our bank, all focused on enabling the execution of our client-focused strategy over the long term and supported by our AI governance processes."

Frontline team members use Knowledge Central to get answers to questions, help serve clients and ensure a positive experience. With the significant amount of information it contains, the bank saw an opportunity to improve the employee and client experience using GenAI.

Now using an enhanced interface, powered by cognitive search and GenAI capabilities, frontline team members can type in their question and the answer is returned in a simple and easy to understand way, enabling them to focus more on giving client advice and building relationships.

Through a phased pilot, the bank is taking a deliberate and thoughtful approach leading to a national roll out later this year.

"Our frontline team needs access to a tremendous amount of information to ensure they are equipped to meet the varied needs of our clients," added Yuen. "Putting the power of AI in their hands to make those interactions more efficient and deliver a better client experience is a good example of where AI can make a significant, positive impact on how we operate every day."

About CIBC

CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.

SOURCE CIBC

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