Competition for talent is “particularly acute” in AI, coding data, engineering and mathematics, Dave McKay said, as tech firms are “reinventing our society.” He also cited insufficient numbers of engineering graduates from Canadian universities and poor international-student retention. (Bloomberg)

Talking point: RBC spends more than $4 billion annually on technology, according to its latest annual report. This year, it’s looking to digitize more of its business with small firms and commercial clients, and bolster its mobile offerings. But all that requires in-house technical expertise, who are also in high demand at firms whose primary business is technology. RBC has looked to fill some of its talent needs using the federal government’s fast-track program for skilled foreign workers, receiving approval to fill 45 positions via the Global Talent Stream between October 2017 and September 2021, according to data from Employment and Social Development Canada and obtained by The Logic. Canadian employers have benefited from talent displaced by the Trump administration’s tightening of the U.S. immigration system, but that advantage may be eroding. Denial rates for the key H-1B visa—often viewed as an indicator of a U.S. administration’s immigration friendliness—dropped significantly in 2021.