Canada’s Bank of Montreal (BMO) has officially joined the IBM Quantum Network, becoming the first bank in the country to access IBM’s cutting-edge quantum infrastructure. This partnership aims to leverage quantum technology in the development and implementation of innovative investment portfolio strategies, as well as to enhance risk management solutions for its clients.
Kristin Milchanowski, BMO’s Chief AI and Data Officer, expressed enthusiasm about this new venture, stating, “Quantum computing offers transformative possibilities, positioning BMO at the forefront of innovation in this field.”
Scott Crowder, Vice President of IBM Quantum Adoption and Business Development, noted the growing interest among financial institutions in the practical applications of quantum computing. He emphasized that many organizations globally are recognizing its potential and are integrating the technology into their strategic frameworks today.