ATB Ventures focusing on digital identity, removing bias from artificial intelligence, creating key partnerships
CALGARY, AB, Jan. 25, 2021 /CNW/ - ATB Ventures is helping Alberta foster innovation through advancements in digital identity and removing bias from artificial intelligence. ATB Financial's innovation lab is building, investing and partnering with different technologies to keep our province and ATB at the forefront of the digital economy.
"ATB Ventures is leading the way, harnessing the opportunities of tomorrow and looking at what's possible in the future," said Curtis Stange, President and CEO, ATB Financial. "ATB is committed to fostering strong industry partnerships that will build on the strengths of Alberta's growing reputation as a global leader in technology."
This work is all the more vital in a post-pandemic world where crisis can spur and accelerate innovation.
"The effects of the COVID-19 pandemic will be felt for years to come," said Sue McGill, head of innovation for ATB Ventures. "As we embrace the next big wave of innovation, we are focusing on addressing fundamental challenges like data privacy, AI safety and digital identity."
ATB Ventures not only invests in different technology but works in-house transforming big ideas into reality. Our Ventures team has already created the ATB Turing Box, a machine-learning framework that removes bias from AI and is currently used by ATB Financial. ATB Ventures recently made a strategic investment in Radical Ventures, an AI-focused venture capital firm, to complement our applied AI and machine-learning innovation.
The team also has two digital identity products which facilitate identification verification—one of the United Nations' development goals—working with government and other stakeholders to explore how the platform could be used.
ATB Ventures recently became a member of the Digital Identification and Authentication Council of Canada (DIACC), a coalition dedicated to developing a Canadian digital identification and authentication framework, to explore how digital identity can help the economy and society as a whole.
"Guided by data, our team is exploring the art of the possible, imagining identity beyond birth certificates and social insurance numbers where people directly control their personal information as they move seamlessly through the world," said McGill.
"Customers are at the centre of everything we do at ATB and ATB Ventures is another way we are supporting customers as their needs grow and change," Stange said.
About ATB Financial
With $54.9 billion in assets, ATB Financial is an Alberta-built financial institution that is a catalyst for economic growth in our province. We got started in 1938 to help Albertans through tough economic times. Today, ATB's more than 5,000 team members love to deliver exceptional experiences to nearly 800,000 customers through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres, and our digital banking options. Everything we do is focused on how we can serve Albertans—from providing expert advice and supporting entrepreneurs to helping Albertans buy a home and grow their wealth.
About ATB Ventures
Launched in 2020, ATB Ventures—the research and development arm of ATB Financial—is a diverse team of entrepreneurs, inventors and data scientists who share a passion for technology and its potential to solve our biggest challenges. ATB Ventures turns inspiration into reality by building, partnering and investing in technology to create the marketable products and services of tomorrow. We harness emerging trends to keep ATB, its customers and Alberta at the forefront of innovation.
SOURCE ATB Financial
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