CIBC to hire more than 200 data and AI roles to further momentum in delivering for clients

Roles in Data, Advanced Analytics and AI will bolster the bank's tech talent over the next 12 months

TORONTO, Aug. 6, 2024/CNW/ - CIBC today announced plans to hire more than 200 data and AI roles over the next 12 months as it continues to leverage AI capabilities to further execute on the bank's client-focused strategy.

"We strongly believe that using AI thoughtfully will add to the momentum we have across our bank in delivering for our stakeholders and executing on our client-focused growth strategy," said Christina Kramer, Group Head, Technology, Infrastructure and Innovation, CIBC. "Now is the right time to add to our talent base through hiring and upskilling in data and AI focused roles, as we leverage this new technology to do more for our clients and deliver a better experience for team members."

A priority for the hires will be continuing the development of resilient and trustworthy AI solutions across the bank, which has various AI use cases in development. CIBC has a long history of leveraging AI in key functions, including existing implementations such as sophisticated risk, fraud, and information security models.

As new Generative AI solutions continue to evolve, the bank has executed several pilot programs that have GenAI functionality built in. These new hires will enable CIBC to operationalize AI at scale, enhance the experience for clients and team members, and continue to build out the governance and guidelines within which AI operates.

"AI talent is in demand across the industry, and we have a compelling value proposition to join our strong team of professionals that have established AI capabilities inside our bank and built the right governance and structure around AI to ensure we're using it thoughtfully to deliver on our business strategy," added Kramer. "Adding to our data and AI teams is an opportunity to continue to transform how we work and interact with our clients, while enhancing our productivity and efficiency."

As a leading employer of choice, CIBC is recognized for its commitments and the progress made in helping team members, clients and communities achieve their ambitions including:

• The Indigenous Reconciliation Award and the Innovation Award as part of the 2024 Employment Equity Achievement Awards (EEAA), which recognizes employers who demonstrate outstanding achievement in implementing employment equity in their workplaces;
• Canada's Greenest Employers for 2024, the third consecutive year the bank has received this award from MediaCorp Canada which underscores CIBC's commitment to environmental stewardship and its efforts to create a culture of sustainability within the bank and broader community;
• For the fourth consecutive year, CIBC has been recognized as the top company in Canadafor gender equality in Equileap's annual Gender Equality Global Report & Ranking. The bank also ranked among the top five companies in North America.

About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United Statesand around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.

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