Given regulatory uncertainty, banks will take tentative steps to embrace AI
As banks increasingly explore the applications of generative artificial intelligence, regulators are deliberating about the systemic risks that the technology may pose because of their unpredictability, the potential for herd behavior, replication of human biases, and AI’s inability to predict extreme scenarios.
Nandita Bakhshi, former Bank of the West CEO: The exit interview
Bakhshi looks back on her nearly four-decade career and reflects on what has changed in the industry over the years.
After City National reports a big loss, executives predict a turnaround
Los Angeles-based City National Bank recorded a $247 million loss during a tumultuous final quarter of its fiscal year. But executives at the bank's Canadian parent company say they expect a return to profitability in the first quarter.
CIBC braces for more loan losses in U.S. office sector
The Canadian bank reported a 70% decline in profits at its U.S. commercial banking and wealth management unit in the most recent quarter and boosted reserves amid distress in the commercial real estate market.