Canada’s biggest banks have big plans for artificial intelligence .

Top executives from all of Canada’s Big Five banks told a conference Wednesday they are already using AI tools to boost staff productivity, combat financial crime and improve customer service. While embracing AI is ultimately expected to lead to more revenue, lenders are focused for the time being on using the new technology to cut costs while assuaging concerns about possible job cuts.

“We don’t talk about ‘this is going to eliminate jobs,’” Canadian Imperial Bank of Commerce CM-T chief executive Victor Dodig told investors at the annual Scotiabank Financials Summit in Toronto. “It is going to change the nature of work and actually make working at CIBC even more interesting because it will take the sand out of the g

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