By Robb M. Stewart

Canadian Imperial Bank of Commerce is the first major lender in the country to sign up to the federal government's voluntary code of conduct on the use of generative artificial intelligence.

Agreeing to the code reinforces the bank's commitment to responsible AI development and deployment, ensuring that its AI systems are fair, transparent and accountable, the bank said.

"We understand the significant impact that artificial intelligence can have on our industry and society," said Dave Gillespie, CIBC's executive vice-president, infrastructure, architecture and modernization.

The code of conduct on the development and management of advanced generative AI systems aims to establish governance frameworks for oversight of the technology. It also seeks to ensure AI systems are designed with the risk of biased outputs mitigated before they are releases, and that companies adopting the systems providing clear and accessible information on the technology and its impacts. The code also calls for companies to protecting client data and to maintain compliance with privacy regulations.

Earlier this month, the federal government refreshed an advisory council on AI first created in 2019 and published a guide for managers of AI systems. The country was among the first in the world to introduce a national AI strategy, and since 2016 has announced more than 4.4 billion Canadian dollars ($3.07 billion) to support AI and digital research infrastructure.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 25, 2025 07:24 ET (11:24 GMT)

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