BMO Financial Group is launching the BMO Institute for Applied Artificial Intelligence & Quantum, an enterprisewide center aimed at accelerating AI adoption and advancing quantum computing capabilities across the bank.

The institute will focus on responsible development, application and governance of AI while building out quantum technologies to improve client experience, productivity and long-term growth, the bank in a release today.

Kristin Milchanowski has been appointed chief AI and quantum officer and will serve as the institute’s founding director, expanding her previous role overseeing AI and data.

“AI is accelerating how we build, modernize and innovate across the bank,” Chief Technology and Operations Officer Steve Tennyson said in the release, adding the institute will help translate emerging technologies into “meaningful value” while maintaining risk discipline.

The initiative builds on BMO’s long-standing investment in AI, which the bank has used for decades to personalize customer experiences, automate operations and support employees, according to the release.

More recently, BMO has pushed to increase what Milchanowski has described as “intelligence velocity” — the speed at which data-driven insights are generated and deployed — through new AI tools and enterprisewide platforms, according to previous FinAi News reporting.

The institute also signals a deeper commitment to emerging technologies such as quantum computing. BMO joined the IBM Quantum Network in 2025, becoming the first Canadian bank to access the platform for developing quantum use cases.

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