Insider Brief
- BMO has joined the IBM Quantum Network, becoming the first Canadian bank to leverage IBM’s quantum infrastructure for financial innovation.
- The bank plans to use quantum computing to optimize investment strategies, enhance risk management, and drive business growth as part of its Digital First strategy.
- IBM Quantum Network provides BMO with access to quantum systems, expertise, and resources to accelerate quantum-powered financial applications.
PRESS RELEASE — BMO today announced it has joined the IBM Quantum Network, extending its technology leadership in North America to further drive real financial progress for its customers, clients, and the communities it serves.
BMO gains access to IBM’s advanced quantum infrastructure, enabling the bank to develop and deploy quantum-powered solutions across its operations. The investment in advanced capabilities is at the core of BMO’s Digital First strategy to deliver progress and outcomes at scale by merging human expertise with cutting edge technology.
Driving Innovation
BMO is the first Canadian bank to access the IBM Quantum Network. Utilization of the network will include accelerating the development of new approaches to help clients prosper and support business growth, optimizing investment portfolio strategies, and uncovering deep insights into risk management solutions.
“BMO’s access to IBM’s quantum systems represents a bold step forward in our Digital First strategy,” said Dr. Kristin Milchanowski, Chief AI and Data Officer, BMO. “Quantum computing holds transformative potential, and BMO is now positioned as a leader in this space to drive future innovation.”
“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,” said Dr. Scott Crowder, Vice President, IBM Quantum Adoption and Business Development. “We are excited for BMO to be part of the IBM Quantum Network, using our quantum systems and resources to begin developing applications for their business operations and help turn their aspirations into reality.”
The IBM Quantum Network supports businesses, universities, laboratories, and industry leaders on their journeys to advancing quantum utility. Members gain access to learning resources, experts, and events to accelerate research and foster collaboration.
