Scotiabank is investing in Canada’s AI talent pipeline.
The Big Five Bank announced an investment of $2.5M over five years.
The capital hails from ScotiaRISE, which is a 10-year, $500-million community investment initiative from Scotiabank focused on building economic resilience.
The investment supports the Scotiabank Centre for Analytics & AI at the Smith School of Business at Queen’s University.
Smith School’s Scotiabank Centre for Analytics & AI was established in 2016 to empower collaborative research and strengthen Canada’s talent pipeline.
“For more than a decade, Scotiabank has invested in the practical, hands-on learning of data and analytics research to help prepare students for real-world opportunities through our partnership with Queen’s,” explains Chief Strategy and Operating Officer Phil Thomas.
“AI is reshaping how organizations operate, and as technology has evolved, so too has our support,” he continued.
“I’m proud that we are investing in the skills the next generation of talent and business leaders will need to succeed, while advancing responsible AI with strong governance and oversight,” Thomas remarked.
Scotiabank’s renewed agreement with Queen’s University will fund hands-on learning, early-stage research, practical teaching, workshops, and more.
“We are grateful for Scotiabank’s long-standing partnership and proud of what we have accomplished together since 2016,” commented Ceren Kolsarici, who serves as Director of the Scotiabank Centre for Analytics & AI.
Kolsarici says the donation will help advance an AI-ready workforce through hands-on learning and real-world innovation.
No stranger to AI tech, Scotiabank this year launched Scotia Intelligence, a unified enterprise approach to equip employees with AI capabilities.
The tool’s launch “marks another milestone in Scotiabank’s AI strategy centred on advancing innovative and trusted client-centric experiences,” according to Thomas.
“By putting AI-enabled tools into the hands of our global team, we’re enabling greater focus on higher-value work resulting in better decisions, faster execution, and meaningful outcomes for our clients,” Thomas stated.
