By Dean Trout, SVP, Chief Information Officer

At North Shore Bank, we believe in the transformative power of AI and that it can only reach its full potential when paired with human critical thinking. We have been leaders in banking for 101 years as trusted advisors who apply thoughtful, high-touch service and the power of proven technologies to expand customer relationships while fostering the trust of our customers, employees, and communities.

AI technology has existed for 50 years, and North Shore Bank has utilized machine learning for several decades. Now, a new “generative AI” is available as a developing technology that expands the query capability of disparate types of data with the use of Large Language Models (LLMs) that can produce results into previously unavailable new mediums (voice, art, music, programming code, etc.)  Exciting for the future of workflow enhancements, yet scary in the wrong hands, as AI captures our voices and data, steals programming code, and looks for security flaws much quicker than ever before, which expands system access and fraud capabilities to opportunistic bad actors.

We are steadfast in our commitment to act in a way that honors customer trust, serves the public interest and demonstrates our commitment to professional excellence. Therefore we have put into the Employee Acceptable Use policy an AI security statement. Essentially, we are systematically blocking access to all AI tools. Anyone who needs access must formally submit a request through their senior manager. Please understand that we must never place our bank data in the public domain where it can be used against us. 

Furthermore, we have established a formal active AI project.  We are identifying current and future opportunities where AI can enhance the bank’s efficiency and customer interactions.  However, before implementing any AI solution, we will ensure that the query tools are well-tested, a comprehensive risk analysis has been conducted, our data is securely protected, and the results are thoroughly validated for accuracy.

Please let me know if you have any questions.