TORONTO, Nov. 13, 2019 /CNW/ - Today, Scotiabank
launched the first Trusted Data & AI for Canadian Business
certification in Canada.
In collaboration with Smith School of Business at Queen's
University, and the IEEE, the world's largest technical
professional organization advancing technology for humanity, the
program is designed specifically for Scotiabank employees to
develop foundational knowledge and understanding of ethical
principles in business decision making, AI applications and
processes.
"AI will be a transformative force in business and in life, and
the Bank has a duty to our customers to safeguard their trust and
use AI responsibly. At Scotiabank, our investment in AI goes beyond
the smart implementation of new tools and technologies, with a
commitment to being leaders in the development of principles,
guidelines and training for the ethical application of this
powerful technology. We are thrilled to be the first financial
institution in Canada to offer a
certification program specifically designed to help our leaders and
senior executives better understand the framework for building
trust in AI systems" says Daniel
Moore, Group Head & Chief Risk Officer.
The 2 day program will provide a comprehensive overview of
ethical AI principles for senior executives and business leaders
with a focus on:
- Principles of AI and ethics in design
- Decision-making with analytics
- Dynamics of enterprise data and AI management
- Key Canadian information and privacy regulations
- Latest research and technology developments in AI
- Impacts on the future
"Exploring the values of your end users before you actually
create prototypes means you can better align with your customers
and stakeholders and create a genuine and valuable relationship,"
says John C. Havens, Executive
Director, The IEEE Global Initiative on Ethics of Autonomous and
Intelligent Systems.
"People are more and more aware of what companies can do with
their data and demanding transparency," says Yuri Levin, Professor, & Stephen J.R. Smith
Chair of Analytics, Smith School of Business. "Our hope with this
program is that employees will have an awareness of the challenges
and key questions they need to be asking, whenever they deal with
something related to AI."
Artificial intelligence and machine learning are powerful tools
for financial institutions moving forward. The Scotiabank Trusted
Data & AI for Canadian Business certification builds on the
Bank's guiding principles for ethical artificial intelligence -
established in November 2018 -
operationalizing the Bank's vision for ethical principles in
business decision making. Through this program, Scotiabank aims to
foster the necessary skills and competencies within its workforce
to prepare the business and its employees for the future.
About Scotiabank
Scotiabank is Canada's international bank and a leading
financial services provider in the Americas. We are dedicated to
helping our more than 25 million customers become better off
through a broad range of advice, products and services, including
personal and commercial banking, wealth management and private
banking, corporate and investment banking, and capital markets.
With a team of more than 100,000 employees and assets of over
$1 trillion (as at July 31, 2019), Scotiabank trades on the Toronto
Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).
For more information, please visit www.scotiabank.com and
follow us on Twitter @ScotiabankViews.
About Smith
Smith School of Business at Queen's
University is renowned for its excellence, innovation and
leadership in business education. From establishing the first
undergraduate business degree a century ago to creating
groundbreaking programs and courses in emerging areas including
artificial intelligence, fintech, analytics, cultural diversity,
entrepreneurship, team dynamics, social impact and more, Smith is
at the forefront of preparing students for the business
marketplace. In addition to its rich tradition of academic and
teaching excellence, Smith is known for delivering an outstanding
learning and development experience. Small class sizes, personal
attention, individual and team coaching, opportunities for
specialization, and a deep commitment to student success
characterize the Smith experience.
SOURCE Scotiabank