“Royal Bank of Canada Chief Executive Officer Dave McKay said he sees blockchain maturation, the spread of artificial intelligence and the so-called internet of things as three big technological developments that will change banking in coming years. Blockchain and digital coins aren’t fully mature yet, but they will continue to evolve, McKay said during a…
Tag: RBC
How banks are harnessing artificial intelligence
“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…
Canadian banks are finally reaping the benefits of hefty digital investments
“Insider Intelligence forecasts that digital banking penetration in Canada will spike from 69.7% in 2019 to reach between 74.1% and 77.2% in 2024. For example, BMO saw its weekly digital banking sign-up rate spike 300% between late March and late April.” https://www.businessinsider.com/digital-banking-is-finally-soaring-in-canada-2020-12
RBC launches its first AI stock trading program
“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
“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…