The Financial Post reports in its Friday edition that from recovering unpaid debt to saving thousands of workdays, the banks are racing to use artificial intelligence to improve their financial performance. The Post's Naimul Karim writes that TD Bank chief executive officer Raymond Chun told investors last year the lender aims to generate $1-billion in annual value from AI by 2028, but he said on Wednesday that he may have underestimated the technology's potential. "What I am seeing with agentic AI capabilities is something that I have not seen with automation, I have not seen in digital," he said. "You can finally truly go end to end and reimagine the entire process. We do think there is a sizable upside to the $1-billion [level]." For example, Mr. Chun said TD has reduced its preliminary review of mortgage applications to an average of three minutes using an AI agent from 15 hours previously. Soon, the same AI agent is expected to significantly reduce the costs associated with funding and discharging mortgages. "That agentic capability is transferable now to small business banking, auto finance," he said. "Once you build this capability, you can actually move it and that's where I think I underestimated the benefits."