TD Bank is exploring the use of generative AI within its institution through pilot programs. 

“Understanding how generative AI can be used to augment the work of our colleagues has always been our focus,” Imran Khan, head of TD Invent, the bank’s innovation arm, told Bank Automation News. “We’re going to continue to research and explore how we can continue to introduce the technology for that purpose at TD.” 

Part of that research includes two gen AI pilot programs: 

• Customer experience: The bank is testing its gen AI-driven virtual assistant, powered by its in-house AI research lab, Layer 6, to determine whether the tech can help streamline customer experience within contact centers, Chief Executive Bharat Masrani said during today’s second-quarter earnings call.  
• Software development: TD is looking to Microsoft’s GitHub Copilot, a gen AI programming assistant, to enhance software development, Masrani said. 

“While we’re only in a pilot, we’ve already seen how our generative AI virtual assistant can support contact center efficiency by enabling our colleagues to answer customer inquiries more quickly,” Khan told BAN. 

Tech at TD

Meanwhile, the Toronto-based bank continues to invest in technology throughout its operations, according to its earnings presentation.  

During Q2, the bank reported: 

• Technology and equipment spend increased 10% year over year to CA$616 million ($448 million); 
• Total revenue increased 11% YoY to $10 billion; and  
• Mobile usership climbed 7% YoY to 5 million.  

The bank also announced multiyear partnerships with Google Cloud and Microsoft Azure during Q2, Masrani said during the call.  

“These partnerships and the bank’s technology strategy more broadly help support TD’s delivery of personalized and connected experiences for our customers and accelerate innovation,” he said.  

Editor’s note: All amounts have been converted to U.S. dollars.    

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