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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Toronto-Dominion Bank    TD   CA8911605092

TORONTO-DOMINION BANK

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Toronto Dominion Bank : TD report explores risks and opportunities of artificial intelligence

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09/12/2019 | 08:32am EDT

There is little doubt that artificial intelligence (AI) is among the most powerful new innovations in the market today. But what are the opportunities and risks of this technology, and how can companies adopting AI ensure it is used responsibly?

A new TD report brings together insights from a survey of Canadians and an expert roundtable to explore these questions. The report, entitled Responsible AI in Financial Services, shows that while Canadians recognize the value that AI can add to their lives and want their banks to keep pace with innovation, they're looking for a greater understanding of the technology and how it is being used.

Canadians are adopting AI, but they have concerns

The report found that the majority of Canadians (72%) are comfortable with AI if it means they will receive personalized services. But nearly the same number (68%) said they are concerned they don't understand the technology well enough to know the risks.

Expert roundtable identifies three areas of focus

The concerns of Canadians were reinforced at a recent roundtable hosted by TD in Toronto that brought together AI experts from multiple sectors, including financial services, technology, fintechs, academic and not-for-profit organizations. The participants identified the following areas of focus as financial institutions move forward with AI:

  • Explainability: Determine how AI experts and business leaders should approach the challenge of explaining how AI models arrive at conclusions.
  • Bias: Control for bias and re-examine the concepts of transparency, fairness and accountability in an AI-first world.
  • Diversity: Promote the role that diversity and inclusion should play at every level of AI adoption.

Read the report to learn more about what Canadians and AI experts had to say about responsible AI.

Disclaimer

TD - Toronto-Dominion Bank published this content on 12 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2019 12:31:03 UTC

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Financials (CAD)
Sales 2019 38 722 M
EBIT 2019 16 685 M
Net income 2019 11 950 M
Debt 2019 -
Yield 2019 3,82%
P/E ratio 2019 11,7x
P/E ratio 2020 10,8x
Capi. / Sales2019 3,54x
Capi. / Sales2020 3,38x
Capitalization 137 B
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Number of Analysts 16
Average target price 80,25  CAD
Last Close Price 75,69  CAD
Spread / Highest target 11,0%
Spread / Average Target 6,02%
Spread / Lowest Target -14,1%
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Bharat B. Masrani Group President, CEO & Non-Independent Director
Brian Michael Levitt Non-Executive Chairman
Riaz E. Ahmed Chief Financial Officer
Jeff Henderson Chief Information Officer & Executive VP
Michael George Rhodes Group Head-Innovation & Technology
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