Artificial Intelligence is becoming part of the banking experience at TD.
What exactly does that mean for TD customers?
To date, the Bank has launched more than 60 AI solutions across multiple lines of business. These include AI-powered chatbots that help client support agents answer queries more quickly.
By the end of 2025, the Bank plans to have AI chatbots integrated into seven different lines of business in the bank. These chatbots will help colleagues work more efficiently with the goal of improving the client experience.
These AI integrations came out of Layer 6, the Bank's AI centre of excellence and a leading AI research and development centre. Layer 6 is located in the MaRs Discovery District, a building home to innovative business and startups, which is steps from the University of Toronto. Plans are in place to open a New York City Layer 6 office in the near future.
Along with its proximity to one of Canada's top research universities, Layer 6 and TD have ties to top-tier academic and research institutions.
For instance, the Bank is one of the founding sponsors of the Vector Institute, a leading independent, non-profit AI research center based in Toronto. TD provides funding to Vector to conduct joint research through Layer 6, as well as to train industry talent and accelerate the Bank’s use case development for certain AI tools.
One use case example is the collaborative research by Layer 6 and Vector Institute research faculty to design the first "Causal Foundation Model" – a large-scale model trained on many hypothetical "what-if" scenarios. This helps the model learn the types of relationships that can arise between variables to prepare for future questions. With this, the foundation model is able to use examples it has seen before and its collected knowledge to analyze new scenarios without additional training.
Prior to this approach, developing new causal models required experts to manually study the data, but now new datasets can be fed to the foundation model to predict causal effects instantly. This also allows for more work to be done with fewer resources, as it can handle many different applications with relatively less overhead.
In the collaboration, Vector Institute faculty researchers brought deep theoretical knowledge about causal modelling, and Layer 6 scientists repurposed their experience in training large-scale foundation models. In addition, over 500 TD colleagues across Layer 6 and TD have attended Vector Institute-led trainings, webinars, bootcamps, and applied AI projects.
That’s not the only relationship that is supporting AI success at the Bank. Through the Radical Ventures Fund Fund, an AI-focused venture capital fund, the Bank invests in the Toronto-based AI company Cohere, and works with it as a vendor to test large language models, among other projects.
TD also has a three-year sponsorship with the Fields Institute Quantitative Information Security training program, which trains PhD and master's students in mathematics and related fields, with a focus on the use of Artificial Intelligence in cybersecurity.
Since the start of the sponsorship, which is in its second year, more than 60 students have been trained. For this year, the Institute has trained 21 students, and nine will complete the 2025 year-long specialization program.
Over the past few months, TD Stories has been spotlighting the Bank's innovative AI work – and the people behind it. We've also scanned out, surveying how Canadians understand AI and how some small business owners are starting to integrate cutting-edge new AI tools into their workflow.
For more on how AI is starting to transform banking at TD — and beyond — take a read of the TD Stories articles below.
Inside the team ensuring artificial intelligence at TD is trustworthy
Jesse Cresswell is a Staff Machine Learning Scientist at Layer 6, the Bank's AI centre of excellence. He leads a team of eight, which helps ensure that as TD develops its AI technology to serve customers and colleagues, it's built with a governance framework that includes checks and balances every step of the way. That TD approach, and the team that leads it, is called Trustworthy AI.
Just how well do you understand artificial intelligence?
How well do Canadians understand AI? A recent TD survey found four out of five respondents would give themselves a C-grade or lower when asked to self-assess their understanding of AI.
3 things to know about breakthrough AI model, TD AI Prism
The Bank's AI team – Layer 6 – recently announced a new predictive foundation model that represents a giant leap forward when it comes to providing AI supports and solutions for TD banking clients. Learn more about TD AI Prism, the next major step forward for TD as it looks to use AI to help the Bank better anticipate customer needs. TD AI Prism is part of TD Invent, our enterprise approach to innovation, creating the products and services of the future.
Maksims Volkovs takes on the challenge of building AI at TD
Meet Maksims Volkovs, Chief AI Scientist at TD. As a co-founder of Layer 6, he's using AI technologies to design products and solutions to help usher in a new era of banking at TD.
Some Canadian small businesses are scaling up with AI
A recent Ipsos survey, conducted on behalf of TD, revealed some of the ways the Canadian small businesses surveyed are beginning to use AI. One TD Small Business Banking client spoke to TD Stories to share her experience integrating AI into her interior design studio.
Luke Gee: How TD approaches AI in a time of great innovation
As AI rapidly evolves, Luke Gee, Senior Vice President, Chief Analytics & AI Officer at TD, shares how TD teams approach AI-related innovation
Transforming the TD banking experience with AI chatbots
TD is in the process of launching AI-powered chatbots across several lines of business to empower colleagues to improve the customer banking experience. That will add to the more than 60 AI solutions that have been implemented at the Bank.
A new era for AI-powered customer service at TD
Cassandra Aeichele works at TD as a customer support agent. Here’s how she is leveraging an AI tool to make it easier and faster to serve TD clients.
Want to learn more about Innovation?