BMO is expanding its technology ambitions with a new enterprise wide initiative focused on artificial intelligence and quantum computing, highlighting how seriously major banks are treating the future of innovation. The bank has launched the BMO Institute for Applied Artificial Intelligence & Quantum, a new organization that will oversee AI innovation, application, governance, and the development of quantum capabilities across the business. BMO says the institute is meant to

Prime Minister Mark Carney’s first federal budget marks a pivotal step in advancing Canada’s position in artificial intelligence (AI) and quantum computing. The 2025 budget allocates more than $1 billion over five years to strengthen these technological ecosystems while integrating AI across federal departments and agencies (CBC). Finance Minister François-Philippe Champagne outlined that $925.6 million will go toward establishing a large-scale, sovereign public AI infrastruc