Perspectives

Artificial intelligence has quickly become part of everyday life. It helps people write emails, summarize meetings, generate code, and answer questions in seconds.

But the next phase of AI may be less about generating information and more about taking action.

In this episode, Ty Panagoplos, Executive Vice President and Chief Technology Officer at Scotiabank, explains how AI has evolved from a specialized technology used by experts into a mainstream tool available to almost anyone. He explores one of the biggest trends shaping the industry today: Agentic AI.

Ty breaks down what Agentic AI actually is, how it differs from generative AI, and why organizations are paying close attention to its potential to automate increasingly complex tasks. He also discusses how banks are approaching AI adoption, balancing innovation with security, governance, and trust.

He also discusses:

Why ChatGPT changed the public conversation around AI and accelerated adoption

The difference between Generative AI, AI agents, and fully autonomous Agentic AI

How AI is already improving productivity across organizations

Why Scotiabank joined an AI consortium focused on safe AI deployment

The guardrails banks need before autonomous AI can be widely adopted

The risks posed by misinformation, hallucinations, security threats, and bad actors

The emerging role of AI agents in customer service and software development

How AI could help create more personalized banking experiences in the future

What the next three to five years of AI innovation may look like



For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures

Key moments this episode:

00:01:45 Ty Panagoplos’ background in technology and banking

00:02:50 Why AI suddenly became mainstream

00:04:45 The biggest opportunities AI creates for businesses

00:06:05 How AI is already being used across banking

00:07:55 What Scotia Intelligence is and how it works

00:09:55 Generative AI versus agentic AI explained

00:12:00 Why Scotiabank joined an AI consortium

00:15:05 The risks of AI and the importance of guardrails

00:16:50 Privacy, hallucinations, scams and other concerns

00:18:00 The next wave of AI tools

00:19:30 Frontier models and the future of cybersecurity

00:20:55 What AI could look like over the next three to five years

With a slightly more positive but cautious tone, the Bank of Canada announced Wednesday that interest rates would stay put, marking its sixth consecutive hold.

As part of the decision announcement, Bank of Canada Governor Tiff Macklem outlined three key messages for the country’s population. First, after a rough start to the year economic growth looks to have resumed. Secondly, that inflation is poised to ease and, lastly, that uncertainty remains high.

Two uncertain factors the central bank will be monitoring closely are the Canada-US-Mexico Agreement (CUSMA) negotiations and how the war in Iran is impacting global oil prices.

"We've been looking through the direct effects of higher oil prices on inflation, but the longer they remain elevated, the bigger the risk they spill over to other goods and services," Macklem said.

To help break down what Canadians should make of the decision and expect in the coming months, Olivier Gervais, the Director of Modelling and Forecasting at Scotiabank joins the podcast.



For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures



Key moments this episode:

00:00:00 Introduction

00:01:46 Olivier's Bank of Canada Experience

00:03:02 Why the Bank Held Rates

00:05:13 Canadian Business Resilience

00:05:58 Iran Conflict and Oil Prices

00:07:11 CUSMA Renegotiation Outlook

00:08:15 What Employment Data Tells Us

00:09:29 Inflation and Grocery Prices

00:10:27 What Would Lower Inflation?

00:10:57 Canada's Housing Market

00:13:04 Mortgage Renewals

00:13:57 Rate Outlook for the Months Ahead

00:15:42 Looking Ahead to September

00:16:05 Key Takeaways for Canadians

Oil prices have been moving again, and Canadians are feeling it at the pump. But while changes in gas prices are easy to spot, the forces behind them can be much harder to untangle. 

In this episode, Jennifer Stevenson, Vice President and Portfolio Manager with Scotia Global Asset Management, explains what is driving oil and gas prices right now, why events far beyond Canada's borders can still shape what Canadians pay, and how refining, shipping routes, global demand, and geopolitical risk all feed into the price of fuel. 

She also breaks down: 


Why the Strait of Hormuz matters so much to global energy markets 


Why Canada is not facing shortages, but is still exposed to global price swings 


How refining capacity, transportation and financial markets affect prices at the pump 


What could keep volatility elevated even if the immediate disruption eases 

For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Key moments this episode: 

1:30 - Jennifer Stevenson’s background in oil and gas 2:04 - What’s happening with oil prices right now 2:44 - Why the Strait of Hormuz is so important to global energy markets 4:04 - Whether there are alternate routes for oil and gas supplies 5:03 - How a global energy disruption can affect prices at the pump 6:04 - Why Canada is not fully insulated from global oil prices 6:24 - Why producing oil does not automatically mean cheaper gasoline 7:38 - How higher oil prices can affect Canada as an energy exporter 8:47 - How quickly global events can show up in gas prices 9:54 - Why gas station margins are thinner than many people think 10:43 - How today’s gas prices compare historically 11:50 - Why demand for gasoline does not fall much when prices rise 13:22 - What could happen if the Strait of Hormuz disruption continues 14:48 - What reopening the Strait could mean for oil and gas prices 16:55 - Whether extremely high oil prices are possible 17:58 - How consumers and businesses can plan for price volatility 20:08 - What can be done to reduce vulnerability to oil price swings 21:20 - Main takeaways for Canadians from the current energy situation

For the fifth time in a row, the Bank of Canada announced it would be keeping interest rates unchanged as many economists expected.  

There are numerous economic factors the Bank of Canada says it’s monitoring before making any interest rate moves including the ongoing conflict in the Middle East, flat GDP numbers and trade talks between CUSMA countries.  

When asked whether a cut or a hike to the 2.25% overnight rate is in the near future, Bank of Canada Governor Tiff Macklem said the situation is complex.  

“If the United States imposes significant new trade restrictions on Canada, we may need to cut the policy rate further to support economic growth. Alternatively, if the conflict in the Middle East continues and higher energy prices start leading to ongoing generalized inflation, monetary policy will have more work to do — there may be a need for consecutive increases in the policy rate.”  

Scotiabank’s Chief Economist Jean-François Perrault is back on the podcast to break down what’s going on with the economy, whether recession risks are overblown and what Canadians can expect in the coming months.

Food inflation is becoming harder to ignore, and it may still have further to run. 

As geopolitical tensions push up energy prices, those pressures are beginning to move through the broader economy. If it persists, it could impact what Canadians pay for food. 

Scotiabank’s Rebekah Young joins the podcast to break down why food inflation remains persistent, how global shocks are moving through supply chains, and why there are few quick solutions in the near term. 

She also explains what this means for households, and why central banks may face more difficult decisions if these pressures continue. 

Key moments this episode: 

2:01 – What has caused food inflation since the pandemic 3:23 – Digging deeper into the economic factors behind food inflation 4:52 – How the current causes of food inflation differ compared to during the pandemic 8:10 – Which inputs are affected by the recent closure of the Strait of Hormuz 9:30 -  Understanding fertilizer types and how it affects farmers in Canada 10:43 – How the war in Iran is affecting consumers 13:50 – How the upcoming grocery benefit aims to help some Canadians deal with food inflation 16:38 - How rising commodity prices could benefit Canada as a global producer of oil, fertilizer and more 19:27 – How the Bank of Canada is reacting to food inflation 22:24 – What Canada can do to stabilize food prices and mitigate risk for the future