TD makes further investment in artificial intelligence

The robots may not be taking over any time soon but there’s no denying the growth of artificial intelligence and one of Canada’s big banks has just made a further move into the technology.

TD Bank Group has acquired Ontario-based AI company Layer 6, which has become a world leader in delivering responsive, personalized and insight-driven experiences for the financial services industry.

The use of AI for mortgage lenders and real estate firms includes customer service. While many customers want to deal with a person the increased use of online inquiries prompted TD to become the first Canadian bank to use a chatbot to deliver instant responses.

"Anticipating and meeting customer needs are at the heart of our promise, and we are excited to further accelerate our innovation agenda to deliver well into the future,” said Bharat Masrani, Group President and CEO of TD Bank Group. “As we deploy new solutions, we will extend our deep relationship with customers across all of our platforms and offer personalized, connected and legendary experiences for our customers in the digital age."

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