The lender said the institute will focus on the application and governance of artificial intelligence and the development of quantum capabilities. BMO has also promoted Kristin Milchanowski, its current chief AI and data officer, as the centre’s director. (The Logic)

Talking point: Milchanowski has previously held senior data and technology roles at Morgan Stanley and JPMorgan Chase, joining BMO in 2024. She is currently the only woman heading AI among Canada’s Big Six banks. In a press release, she said the new institute will help embed the bank’s “enterprise-wide AI agenda, while advancing [its] quantum strategy.” At its investor day in March, BMO said its AI initiatives generated about $85 million in annualized revenue in 2025 within its Canadian personal and business banking division and that it now expects the technology to generate more than $1 billion in additional operating profit by 2030. BMO ranked 19th globally in AI benchmarking and intelligence platform according to Evident’s 2025 AI index, trailing behind peers TD and RBC.