Tag: earnings

Royal Bank of Canada (RBC) headquarters in the financial district of Toronto, Ontario, Canada, on Thursday, Aug. 24, 2023. Royal Bank of Canada said it plans to cut as much as 2% of its full-time equivalent staff in the coming quarter after a surge in expenses weighed on third-quarter results. Photographer: Cole Burston/Bloomberg

RBC’s token usage jumps 500% in a year

Royal Bank of Canada is deploying AI throughout its operations to drive productivity and to strengthen its position moving forward, both of which are increasing its token usage.   With increasing use of AI, the bank reported its AI token usage increased by 500% in its fiscal second quarter, ended ...

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