In one pilot application, TD’s generative AI assistant is being used to support customer service agents at the bank’s contact centres. When contact centre employees need help to answer a customer question, they turn to the supervisory support team. However, this process leads to longer wait times. The new generative AI assistant was designed to retrieve answers to these day-to-day banking inquiries in seconds, with the goal of reducing wait times.

TD also announced another pilot generative AI project using Microsoft’s GitHub co-pilot programming assistant. The platform helps engineers analyze code, offers suggestions about how to complete it, helps detect bugs, and is able to perform tasks such as code testing when asked by users.

The bank has also been using AI applications to provide faster mortgage pre-approvals and term life insurance application approvals.

For a deeper dive, read the full article in this week's issue of Competitive Intelligence (CI) Update. This week’s research also looks at FHSA user data, new small business offerings from Float, and targeted marketing efforts from CIBC and BMO.

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