Last week, TD Bank Group announced the acquisition of Layer 6 Inc., a pioneering artificial intelligence company based in Toronto, Ontario.
Layer 6 has established itself as an industry leader in providing responsive, personalized, and insight-driven experiences for the financial services sector.
“Layer 6 adds new capabilities to TD's growing base of innovation talent and know-how. Artificial Intelligence has the potential to power a new generation of data-driven applications from personalized and real-time advice to predictive analytics that will shape the future of banking for millions of individuals,” according to Michael Rhodes, Group Head of Innovation, Technology, and Shared Services for TD Bank Group.
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The move marked the latest in the bank’s stated goal to harness the potential of AI in the Canadian financial system. TD was the first of Canada’s financial institutions to offer a chatbot on Twitter aimed at helping customers get instant assistance on inquiries.
Recently, TD has announced its collaboration with the Vector Institute for Artificial Intelligence, which is developing the next generation of AI technologies. TD also entered into an agreement with leading conversational AI provider, Kasisto, to integrate the company’s KAI Banking platform into TD’s mobile app.
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