Tag: RBC

How banks are harnessing artificial intelligence

~ Brandon McGee ~ Leave a comment
iStock.com / Alashi
  • “Since 2016, Royal Bank of Canada (RBC) has focused on AI through its dedicated research division called Borealis AI. In October 2020, Borealis AI and RBC announced the launch of Aiden, an AI-driven electronic trading platform for institutional investors.
  • ‘For every trade [Aiden] makes, it also justifies why it just did that,’ Agrafioti said. ‘And that gives people confidence and trust that they understand the context of the algorithm they’re seeing.’”

How banks are harnessing artificial intelligence

RBC launches its first AI stock trading program

~ Brandon McGee ~ Leave a comment
Photographer: Stephanie Foden/Bloomberg
  • “Royal Bank of Canada is launching an artificial intelligence-based electronic-trading platform to clients around the world
  • Aiden was jointly developed by RBC Capital Markets and the Borealis AI research center, which is backed by the bank and led by inventor Foteini Agrafioti.”

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-10-14/rbc-rolls-out-ai-based-trading-platform-to-global-clients

Royal Bank of Canada Mints Private AI Cloud

~ Brandon McGee ~ Leave a comment
  • “The Royal Bank of Canada (RBC) and its AI research arm Borealis AI have teamed with Red Hat and Nvidia to develop an AI computing platform with the goal of improving the client banking experience.
  • A collaborative announcement notes that RBC’s new platform ‘has already improved trading execution and insights, helped reduce client calls and has resulted in faster delivery of new applications for RBC clients, and has the potential to benefit the AI industry in Canada, beyond RBC and financial services.’
  • ‘By combining innovative technology with their expert knowledge in financial services, the RBC team has created one of the most sophisticated and dynamic AI development infrastructures in Canada,’ said Charlie Boyle, vice president and general manager, DGX Systems, Nvidia.”

Royal Bank of Canada Mints Private AI Cloud

RBC files AI patents to predict clients’ needs as big tech encroaches on bankers’ turf

~ Brandon McGee ~ Leave a comment

  • “The Royal Bank of Canada is looking to patent several artificial-intelligence inventions, including one that could predict when consumers are about to make major purchases, public filings show.”
  • https://www.google.com/amp/s/business.financialpost.com/technology/rbc-files-purchase-prediction-patent-as-big-tech-continues-to-encroach-on-bankings-turf/amp