BMO Joins IBM Quantum Network to Advance Financial Innovation

BMO has become the first Canadian bank to join the IBM Quantum Network, securing access to IBM’s cutting-edge quantum infrastructure. The move is aimed at leveraging quantum computing to develop next-generation financial solutions, including portfolio optimization and risk management insights.

By integrating quantum capabilities, BMO seeks to enhance investment strategies and uncover new risk assessment methodologies that traditional computing cannot achieve. The partnership strengthens BMO’s position as a leader in financial innovation.

Kristin Milchanowski, BMO’s Chief AI and Data Officer, stated: “Quantum computing holds transformative potential, and BMO is now positioned as a leader in this space to drive future innovation.”

IBM’s Scott Crowder, VP of Quantum Adoption and Business Development, echoed the sentiment: “Financial institutions around the world see the potential of real-world application of quantum computing and are rapidly making the technology a key element of their strategy, today.”