BMO to open institute to boost quantum computing and AI capabilities [Yahoo! Finance Canada]
Bank Of Montreal (BMO)
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Source: Yahoo! Finance Canada
The BMO Institute for Applied Artificial Intelligence and Quantum will be led by Kristin Milchanowski, who was the bank's chief AI and data officer until last week. Her role has been expanded to support the bank's quantum computing goals as well. “We are expanding our research,” said Milchanowski, who is also a quantum mathematician. “(The institute) is going to provide a platform for AI and quantum to converge. We are going to stay on the leading edge of research of both.” Quantum computing has the potential to solve complex problems that are beyond the limits of classical computers, but the technology is still mostly in the experimental stage. Quantum computing companies are increasingly attracting investors and quickly growing, according to McKinsey & Co., with 39 per cent of the quantum companies it surveyed in 2024 saying they have more than 100 employees, up from nine per cent in 2023. Milchanowski said her team has hit “quantum utility,” which means they can “do a real
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- BMO's page on the SEC website