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CIBC becomes the first major Canadian bank to sign the federal generative AI code of conduct
CIBC becomes the first major Canadian bank to sign the federal generative AI code of conduct ...
About this update from Canadian Imperial Bank Of Commerce
[{"type":"text","content":"\n\n\n\n CIBC becomes the first major Canadian bank to sign the federal generative AI code of conduct\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n March 25, 2025\n \n\n /CNW/ - CIBC has reinforced its commitment to responsible AI by becoming the first major Canadian bank to sign the Government of\n \n Canada's\n \n\n Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems\n \n . This initiative highlights CIBC's dedication to fostering ethical AI practices and promoting responsible innovation within the financial sector.\n \n\n \"At CIBC, we understand the significant impact that artificial intelligence can have on our industry and society,\" said\n \n Dave Gillespie\n \n , Executive Vice-President, Infrastructure, Architecture and Modernization, CIBC. \"By adhering to this voluntary code of conduct, we are reinforcing our commitment to responsible AI development and deployment, ensuring that our AI systems are fair, transparent, and accountable.\"\n \n\n The voluntary generative AI code of conduct sets out key principles for the responsible use of AI technologies, including:\n \n\n\n Accountability: Establishing robust governance frameworks for AI oversight;\n \n\n Fairness: Ensuring that AI systems are designed and implemented with the risk of biased outputs mitigated prior to release;\n \n\n Transparency: Providing clear and accessible information about AI systems and their impacts;\n \n\n Privacy: Protecting client data and maintaining compliance with privacy regulations.\n \n\n\n As set out in the\n \n 2024 Sustainability Report\n \n , our AI governance foundation is built on our Trustworthy AI Principles, enforced through the CIBC Enterprise AI Framework, and supported by our robust AI Risk Assessment Process (AIRAP). In addition, we have AI governance committees consisting of Senior Executives as well as risk stakeholders across the bank. Our approach ensures that we leverage AI with thoughtfully designed guardrails to support innovation. In 2024,...