Innovation with impact: Advancing AI and quantum technologies

Innovation is accelerating at an unprecedented pace, and BMO is focused on leading with purpose to advance emerging technologies while maintaining a strong commitment to responsible adoption, governance and long‑term value creation.

As part of this strategy, BMO is taking meaningful steps to strengthen our artificial intelligence and quantum capabilities through two key developments that reinforce the bank’s focus on innovation, collaboration and future readiness.

Introducing the BMO Institute for Applied Artificial Intelligence & Quantum 

BMO has announced the launch of the BMO Institute for Applied Artificial Intelligence & Quantum, a new enterprise-wide Centre of Excellence dedicated to the responsible and practical application of emerging technologies.

The Institute is designed to create greater clarity, coordination and momentum in how AI and quantum technologies are explored and deployed across the organization. Its mandate is to help move promising ideas into trusted, scalable solutions that deliver real value for clients, while meeting BMO’s standards for governance, risk management and ethical use.

By bringing together expertise across science, policy, ethics and commercialization, the Institute will help ensure that AI and quantum technologies are applied thoughtfully, securely and in ways that align with BMO’s commitment to responsible innovation.

Effective April 6, 2026, Dr. Kristin Milchanowski has been appointed as Chief AI & Quantum Officer and Founding Director of the Institute, providing leadership to ensure innovation efforts are both ambitious and enterprise ready.

"BMO is committed to building AI and quantum capabilities that are innovative, trusted and centred on our clients. AI is accelerating how we build, modernize and innovate across the bank, and the Institute will strengthen our ability to turn leading-edge technologies into meaningful value for BMO clients, while maintaining the discipline required to manage risk, operate at scale and support responsible adoption across global banking.”

- Steve Tennyson, Chief Technology & Operations Officer, BMO

Collaboration accelerates quantum impact 

While BMO continues to advance our capabilities internally, collaboration remains central to our approach. To help accelerate progress, BMO is establishing new partnerships with Quantum Industry Canada (QIC) and the Chicago Quantum Exchange (CQE). The partnerships will focus on technology commercialization, research collaboration, workforce development and knowledge‑sharing across North America.

Through our engagement with QIC, BMO joins a national consortium focused on strengthening Canada’s quantum ecosystem by connecting industry leaders, startups, research institutions and strategic partners.

BMO’s partnership with the CQE connects real-world financial services challenges with CQE’s research capabilities, affiliate network and emerging talent. The collaboration supports internships, educational programming and joint exploration, helping foster dialogue, research and workforce development in quantum technologies.

The launch of the BMO Institute for Applied Artificial Intelligence & Quantum, alongside these strategic partnerships, represents an important milestone in BMO’s digital transformation journey. Together, these initiatives reflect the bank’s commitment to becoming a Digital-First, AI-powered organization, focused on delivering value today while preparing responsibly for the future.

“Quantum technologies present significant long‑term potential, along with important questions around security, governance and real‑world application. These partnerships enable us to engage constructively with leading organizations across Canada and the U.S. as the field continues to develop, while taking a responsible, informed approach grounded in collaboration, learning and readiness.”

- Dr. Kristin Milchanowski, Chief AI & Quantum Officer, BMO

Read more about the announcement.