Head already appointed: Commerzbank creates leading position for artificial intelligence

Before the start of its Annual General Meeting this week, Commerzbank made headlines, particularly in connection with its planned job cuts. The bank is now creating a new position in the area of ​​artificial intelligence. Oliver Dörler will now assume the role of Chief Data & AI Officer, which reports directly to the Board of Management.

The former Head of Big Data & Advanced Analytics will further develop the bank's AI strategy and combine responsibility for the bank-wide deployment of AI applications with data management. Dörler has been a Divisional Board Member and Head of Big Data & Advanced Analytics at Commerzbank since May 2024. In his new role, he will ensure that AI is deployed groupwide and strengthen employees' skills in using the technology .

"With the appointment of Oliver Dörler, we are ensuring that the key topics of data and artificial intelligence are strategically interlinked," explains Christiane Vorspel, Member of the Board of Managing Directors and COO of Commerzbank. Dörler studied computer science and joined Commerzbank in 2019 after working at Deutsche Bank and Deloitte. Since then, he has been working on the technological development of the Big Data & Advanced Analytics division, in which the bank had already consolidated its AI activities in 2017.

The increased use of artificial intelligence is part of the "Momentum" strategy upgrade announced in February. The bank already uses AI in various areas. This includes the virtual assistant Ava, which supports customers with service requests and account management in the banking app. Employees also use an AI solution based on ChatGPT for daily tasks.

The new AI position comes as Commerzbank is massively reducing jobs elsewhere. The bank recently reached an agreement with the works council on the framework for the reduction of 3,900 full-time positions, of which more than 3,300 are to be eliminated in Germany.

With assets under management of more than €400 billion, Commerzbank is one of the leading banks for private and small-business customers in Germany. It offers a comprehensive portfolio of financial services through its two business segments—Corporate Customers and Private and Small-Business Customers.