TORONTO, Nov. 13, 2019 /CNW/ - Today, Scotiabank launched the first Trusted Data & AI for Canadian Business certification in Canada.

In collaboration with Smith School of Business at Queen's University, and the IEEE, the world's largest technical professional organization advancing technology for humanity, the program is designed specifically for Scotiabank employees to develop foundational knowledge and understanding of ethical principles in business decision making, AI applications and processes.

"AI will be a transformative force in business and in life, and the Bank has a duty to our customers to safeguard their trust and use AI responsibly. At Scotiabank, our investment in AI goes beyond the smart implementation of new tools and technologies, with a commitment to being leaders in the development of principles, guidelines and training for the ethical application of this powerful technology. We are thrilled to be the first financial institution in Canada to offer a certification program specifically designed to help our leaders and senior executives better understand the framework for building trust in AI systems" says Daniel Moore, Group Head & Chief Risk Officer.

The 2 day program will provide a comprehensive overview of ethical AI principles for senior executives and business leaders with a focus on:

• Principles of AI and ethics in design
• Decision-making with analytics
• Dynamics of enterprise data and AI management
• Key Canadian information and privacy regulations
• Latest research and technology developments in AI
• Impacts on the future

"Exploring the values of your end users before you actually create prototypes means you can better align with your customers and stakeholders and create a genuine and valuable relationship," says John C. Havens, Executive Director, The IEEE Global Initiative on Ethics of Autonomous and Intelligent Systems.

"People are more and more aware of what companies can do with their data and demanding transparency," says Yuri Levin, Professor, & Stephen J.R. Smith Chair of Analytics, Smith School of Business. "Our hope with this program is that employees will have an awareness of the challenges and key questions they need to be asking, whenever they deal with something related to AI."

Artificial intelligence and machine learning are powerful tools for financial institutions moving forward. The Scotiabank Trusted Data & AI for Canadian Business certification builds on the Bank's guiding principles for ethical artificial intelligence - established in November 2018 - operationalizing the Bank's vision for ethical principles in business decision making. Through this program, Scotiabank aims to foster the necessary skills and competencies within its workforce to prepare the business and its employees for the future. 

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 100,000 employees and assets of over $1 trillion (as at July 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

About Smith
Smith School of Business at Queen's University is renowned for its excellence, innovation and leadership in business education. From establishing the first undergraduate business degree a century ago to creating groundbreaking programs and courses in emerging areas including artificial intelligence, fintech, analytics, cultural diversity, entrepreneurship, team dynamics, social impact and more, Smith is at the forefront of preparing students for the business marketplace. In addition to its rich tradition of academic and teaching excellence, Smith is known for delivering an outstanding learning and development experience. Small class sizes, personal attention, individual and team coaching, opportunities for specialization, and a deep commitment to student success characterize the Smith experience.

SOURCE Scotiabank