TORONTO, March 24,
2022 /CNW/ - Scotiabank announced today the
launch of Ethics Assistant, in collaboration with Deloitte
Canada, to further enhance the Bank's investments in data and
analytics to derive customer insights that are more accurate,
personalized, and free of bias. Ethics Assistant also
ensures that data collected by Scotiabank is leveraged in a manner
that reinforces the importance of transparency and trust in how
customer information is accessed and used.
"As we continue to unlock the potential of data and analytics,
Ethics Assistant helps us advance how we responsibly
collect, share, store, and use data," says Grace Lee, Senior Vice President and Chief Data
& Analytics Officer, Scotiabank. "This new solution gives
us the confidence that the enhancements we are making to develop
personalized solutions for our customers are aligned with and
strengthen our data ethics practices."
Using Deloitte's Artificial Intelligence (AI) Impact Assessment
tool, Scotiabank was able to successfully build and deploy
Ethics Assistant which helps advance responsible AI-based
innovation and adoption to benefit and enhance how data is used to
deliver value and build trust with the Bank's customers.
"Data ethics and customer trust is a top priority for financial
institutions across the globe," says Preeti
Shivpuri, Trustworthy AI Leader at Deloitte Canada. "As
Deloitte works towards fostering further AI adoption and innovation
across Canada, we're thrilled to
collaborate with Scotiabank to launch Ethics Assistant to
support the responsible design, development, and deployment of AI
solutions across the Bank."
The tool helps practitioners think about ethical considerations
early on before AI and machine learning projects are
deployed improving consistency, transparency, and
fairness.
"Including ethical considerations early in the design stage
of a use case helps us take a proactive approach throughout the
development process," says Anna
Hannem, Director of Data Ethics & Use. "The result is
more ethical, trustworthy use cases which benefit our customers and
our businesses."
Scotiabank plans to scale Ethics Assistant for all new AI
and machine learning projects across the Bank this year.
About Scotiabank
Scotiabank is a leading bank in the
Americas. Guided by our purpose: "for every future", we help our
customers, their families and their communities achieve success
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 approximately 90,000 employees and assets of
approximately $1.2 trillion (as at
January 31, 2022), Scotiabank trades
on the Toronto Stock Exchange (TSX: BNS) and New York Stock
Exchange (NYSE: BNS). For more information, please visit
http://www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
About Deloitte
Deloitte provides audit and
assurance, consulting, financial advisory, risk advisory, tax, and
related services to public and private clients spanning multiple
industries. Deloitte serves four out of five Fortune Global
500® companies through a globally connected network of member firms
in more than 150 countries and territories bringing world-class
capabilities, insights, and service to address clients' most
complex business challenges. Deloitte LLP, an
Ontario limited liability
partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
Deloitte refers to one or more of Deloitte
Touche Tohmatsu Limited, a UK private company
limited by guarantee, and its network of member firms, each of
which is a legally separate and independent entity. Please
see www.deloitte.com/about for a detailed
description of the legal structure of Deloitte Touche Tohmatsu Limited
and its member firms.
Our global Purpose is making an impact that matters. At Deloitte
Canada, that translates into building a better future by
accelerating and expanding access to knowledge. We believe we can
achieve this Purpose by living our shared values to lead the way,
serve with integrity, take care of each other, foster inclusion,
and collaborate for measurable impact.
To learn more about Deloitte's approximately 330,000
professionals, over 11,000 of whom are part of the Canadian firm,
please connect with us on LinkedIn, Twitter, Instagram, or
Facebook.
SOURCE Scotiabank