“But CIBC faces tough competition, as AI solutions have also been a popular area of investment for its main competitors. Canada’s largest banks spent around CA$90 billion ($67.8 billion) on technology upgrades between 2009 and 2018. And AI solutions to improve the customer experience were a big part of their investments prior to the pandemic to deepen relationships with clients. Competing incumbent banks RBC, BMO, and TD have all debuted their own versions of AI-powered money management solutions.”
https://www.businessinsider.com/cibc-jumps-on-ai-bandwagon-canadian-digital-banking-spikes-2021-2