How TD wants to bridge the confidence gap with AI-based tools

Canadians may accept that AI is a part of their lives, but many express concerns about the potential risks that the application of the technology presents, including biases. That's according to a recent TD Bank survey of 1,200 Canadian adults carried out by Environics Research. According to Matt Fowler, vice president of enterprise machine learning at TD, the bank is taking steps to build confidence among customers, including an emphasis on'explainability' and building capabilities to detect bias. The survey found that 72% of Canadians are comfortable with AI if it means they'll receive more personalized services, while 77% are concerned about the risks that AI poses to society. "It comes back to trust," Fowler told Bank Innovation.