Canadian banks have emerged as global leaders in AI innovation, with ranking among the top ten in Evident’s AI innovation study. RBC’s third place is attributed to its Borealis research lab, responsible for 10% of the top 50 banks’ AI research papers published between 2018-2022.
TD’s significant research output and BMO’s robust patent portfolio, receiving 2.4 times more citations than average, underscore the Canadian banking sector’s commitment to AI development. This prominence in AI underscores the potential for Canadian financial institutions to pioneer technological advancements on a global scale.
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