Overview
- BMO created the BMO Institute for Applied Artificial Intelligence & Quantum and tapped Dr. Kristin Milchanowski to lead it as Chief AI & Quantum Officer.
- The center brings together science, policy, ethics, and commercialization to steer bank‑wide use of AI and quantum under clear governance.
- BMO says AI tools already cut false anti‑money‑laundering alerts by about 10% and reduced adverse‑media searches from roughly three hours to about 20 minutes.
- Milchanowski said the team has reached early “quantum utility” in tests for portfolio optimization, risk analysis, and AML, but the work remains research‑only and not in production.
- The bank joined the IBM Quantum Network and plans a 24/7 tokenized cash platform with CME Group and Google Cloud to explore new commercial uses.