Multi-year collaboration integrates Element AI software product into the BNC Security Operations
Center—provides augmented decision support for cybersecurity analysts
MONTREAL, Feb. 21, 2019 /CNW Telbec/ - Element AI, a global company that delivers cutting-edge AI software
products, and National Bank of Canada (NBC) (TSX: NA) today announced a collaborative relationship to integrate AI-powered software
within the NBC Security Operations Center (SOC), to maximize cybersecurity protection. Bank security analysts will be able to
investigate further, react and respond with more accuracy to alerts and threats. This solution is being deployed using the latest
cutting-edge Element AI machine learning technology designed to improve the organization's operational efficiency and
security.
Element AI is working with NBC cybersecurity analysts to implement features that create real-time reports and communications
alerts—while identifying, mapping, and autonomously hunting for new threats. Once integrated into the NBC infrastructure,
the Element AI deep learning product will analyze data and create a response workflow that delivers continuous predictions and
suggestions on courses of action, while eliminating many false positives. These features will help SOC analysts to better focus
on verified and pressing cyber threats.
"National Bank of Canada is taking an important step to adopt and leverage cutting-edge AI technologies that empower our
security operations analysts," said Dominic Côté, Senior Director of Cybersecurity at NBC. "We are convinced that the power of AI
can increase our overall efficiency in staying vigilant against the ever-increasing volume of sophisticated cyber threats.
Element AI offers world-class technology from some of the most established data scientists in the world—and together we are
architecting the systems to aid our employees with augmented decision-making to keep our systems secure," added Côté.
This is the first collaboration announcement in 2019 for Element AI as it goes-to-market with a suite of AI products servicing key industries including: financial
services, transportation and logistics, cybersecurity and supply chain. These human-centric AI products enable organizations to
scale quickly for operational efficiency and help employees focus on higher level decision-making.
"AI has the power to assist organizations in building intelligent solutions that produce perspectives and insights that were
never before possible. We are committed to delivering products to market that help companies perform their job with more accuracy
and efficiency," said JF Gagné, Co-founder and CEO of Element AI. "Through our first cybersecurity product collaboration and
deployment with National Bank of Canada, we are helping SOC analysts more efficiently detect and
manage cyber anomalies, freeing them to focus on more critical activities. AI-powered augmented decision-making will
fundamentally change how business is done across every organization," added Gagné.
To learn more about the full suite of Element AI solutions and products designed to augment decisions for operational health
and efficiency, or to speak to a sales representative, contact: projects@elementai.com
About National Bank of Canada
With $262 billion in assets as at October 31, 2018, National Bank of Canada, together with its
subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 23,000
employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to
diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
About Element AI
Element AI delivers AI software products that augment decisions to make businesses safer, stronger, and more agile. Element AI
is headquartered in Canada with offices in Montréal, Toronto,
London, Singapore, and Seoul. Element AI is funded by
leading investors including BDC Capital, Data Collective, Fidelity Investments Canada, Hanwha Investment, Intel Capital,
Microsoft Ventures, National Bank, NVIDIA GPU Ventures, Real Ventures, and Tencent. http://www.elementai.com
SOURCE Element AI
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