By Adriano Marchese
Bank of Nova Scotia, Sun Life and Telus are teaming up with artificial intelligence company Lightworks to pool their resources and build shared AI capabilities.
The companies are launching what they call the AI Consortium, a model that brings together these large institutions to build and govern the critical infrastructure needed to implement AI at enterprise scale.
The companies said Tuesday that the move is aimed at solving the challenges that large, regulated intuitions face when implementing the new technology.
The consortium, which is made up of Scotiabank, a large financial institution, insurer Sun Life and telecom company Telus will pool hands-on engineering, research and interests to jointly build and govern mission-critical AI control systems and intellectual property that would otherwise be developed independently, they said.
The companies are working with Lightworks, a software engineering firm--also a cofounder of the consortium that builds secure AI infrastructure for large, regulated corporations such as banks and telecom companies that work with sensitive customer information.
The companies currently have one product up and running. The companies said the Agentic Control Plane already helps support regulatory compliance and maintain operational control.
Write to Adriano Marchese at adriano.marchese@wsj.com