TD commits up to $25 million to a three-year Cohere partnership

TD Bank Group plans to invest up to $25 million over three years in a strategic partnership with Toronto artificial-intelligence company Cohere. The work will pair Cohere specialists with TD's Layer 6 team at the MaRS Discovery District.

The collaboration will explore applications in knowledge management, security, productivity, and customer experience. It is also expected to examine AI agents and workflow automation inside a highly regulated financial institution.

TD acquired Layer 6 in 2018 and has continued to build an internal AI research and deployment capability. Cohere, founded in Canada, has focused its commercial strategy on secure language models for businesses and governments.

The partnership illustrates a broader shift from experimental chatbots toward embedded enterprise systems. For TD, the test will be whether the tools can produce measurable gains while meeting banking requirements for privacy, explainability, and oversight.