The partnership includes a chosen group of students, paired with selected professors and ATB science experts, with an initial contribution of $940,000 from ATB.
An interdisciplinary team includes people from science, technology, engineering and mathematics fields with the goal to move beyond classroom theory to create real-world banking solutions and applications.
The partners announced on Tuesday that projects and initial research include intuitive business analytics to support entrepreneurial growth, proactive fraud detection and customer service intelligence powered by reinforcement learning. All of the projects are designed to redefine customer service experiences at ATB, said the partners.
“Our students are motivated by hands-on learning that will lead to jobs,” said Jonathan Schaeffer, dean of the University of Alberta Faculty of Science and an expert in artificial intelligence. “This learning lets the next generation of AI leaders apply their STEM skills at UAlberta, building the AI ecosystem to retain and attract talent here in Alberta.”
“Every business and individual stands to benefit from the application of AI,” said Wellington Holbrook, ATB’s chief transformation officer. “The opportunity to collaborate with UAlberta as a key pillar in ATB’s broader AI strategy is significant. We’re able to reinforce the fabric of Alberta’s tech ecosystem with a focus on developing and benefiting the key resource at the heart of it all: people.”
ATB and U of A say it’s estimated that by 2030, the economic gains from AI will be $3.7 trillion for North America, with positive impact to labour productivity and consumer experiences across almost every industry and size of business imaginable.
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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