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ATB Ventures Focusing on Digital Identity, Removing Bias From AI, Creating Key Partnerships

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.”

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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.

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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.

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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.

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