Insider Brief
- BMO has established the BMO Institute for Applied Artificial Intelligence & Quantum, an enterprise-wide center focused on scaling AI deployment, advancing quantum capabilities and strengthening governance across the bank.
- The institute will unify expertise across science, policy, ethics and commercialization as BMO expands AI across client services, operations and productivity while building a long-term foundation for quantum technologies.
- Dr. Kristin Milchanowski has been appointed chief AI and quantum officer and founding director, as the bank formalizes existing AI efforts and builds on investments including its participation in the IBM Quantum Network.
BMO announced it has established the BMO Institute for Applied Artificial Intelligence & Quantum, an enterprise-wide center focused on scaling AI deployment, advancing quantum capabilities and strengthening governance across the bank.
According to the company, the institute is designed to unify expertise across science, policy, ethics and commercialization as BMO looks to expand its use of AI in client services, operations and productivity, while building a longer-term foundation for quantum technologies.
The company said the move formalizes efforts already underway across the bank, where AI has been used for years to personalize services, automate workflows and support decision-making, as financial institutions increasingly look to operationalize AI at scale while managing regulatory and risk constraints.
“BMO is committed to building AI and Quantum capabilities that are innovative, trusted and centred on our clients,” BMO Chief Technology & Operations Officer Steve Tennyson noted in the announcement. “AI is accelerating how we build, modernize and innovate across the bank and the Institute will strengthen our ability to turn leading edge technologies into meaningful value for BMO clients, while maintaining the discipline required to manage risk, operate at scale and support responsible adoption across global banking.”
Dr. Kristin Milchanowski has been appointed chief AI and quantum officer and will lead the institute as its founding director, effective April 6, with a mandate spanning strategy, development and oversight of the bank’s AI and quantum initiatives.
“BMO has been applying AI across the bank for decades to personalize client experiences, augment our teams and automate our business,” Milchanowski pointed out. “These capabilities continue to evolve rapidly, alongside the emergence of Quantum technologies, creating both extraordinary opportunity and significant responsibility. The BMO Institute for Applied Artificial Intelligence & Quantum will help further embed a mature, enterprise-wide AI agenda, while advancing our Quantum strategy across the Bank and beyond, while keeping us accountable and agile in this era of exponential change.”
The company said the launch builds on BMO’s broader technology investments, including becoming the first Canadian bank in the IBM Quantum Network, as banks explore potential applications of quantum computing in areas such as optimization, risk modeling and cryptography.
