American investment management leader Vanguard has partnered with the University of Toronto (UofT) to establish multiple laboratories dedicated to advancing artificial intelligence (AI) within the financial services sector.
These labs, situated in UofT’s computer science department, will bring together professors, post-doctoral researchers, and students to collaborate closely with Vanguard’s AI research team based in Toronto. The primary focus will be on producing academic papers and organizing seminars and conferences aimed at ensuring AI systems are both ethical and capable of seamless interaction with humans.
This initiative represents a significant expansion of Vanguard’s AI team in Toronto, increasing its size from approximately 20 to 90 positions. Additionally, it opens up valuable internship opportunities for students at the University of Toronto.
“This collaboration will not only bolster our ability to serve investors with exceptional expertise and resources but will also play a significant role in the evolution of AI, ultimately benefiting both our clients and the wider industry,” stated Nitin Tandon, Chief Investment Officer at Vanguard.