The Globe and Mail reports in its Thursday, Sept. 4, edition that Canada's largest banks are making significant investments in artificial intelligence. The Globe's Jameson Berkow writes that during a conference on Wednesday, top executives from all five of Canada's major banks shared that they are already utilizing AI tools to enhance employee productivity, combat financial crime and improve customer service. While the adoption of AI is anticipated to generate increased revenue in the long run, these financial institutions are currently focusing on leveraging this technology to reduce costs while addressing concerns regarding potential job losses. All of Canada's largest lenders are looking to use AI in hopes of gaining a competitive advantage. Leo Salom, chief executive officer of Toronto-Dominion Bank's U.S. division, told the conference AI "is probably one of the biggest levers that the banking industry is going to be able to embrace" to foster efficiency and drive growth. Mr. Salom referred to TD's 2018 purchase of AI start-up Layer 6 for more than $100-million as evidence that the bank is "trying to build an organization that can pull through AI development activities right through to implementation."