Bank of Montreal (NYSE: BMO) announced the creation of the BMO Institute for Applied Artificial Intelligence & Quantum, a new enterprise-wide center focused on AI innovation and quantum technology development.

The institute will serve as a center of excellence for responsible AI application and governance while developing quantum capabilities across the bank. Dr. Kristin Milchanowski has been appointed Chief AI & Quantum Officer and founding director of the institute, effective April 6.

"BMO is committed to building AI and Quantum capabilities that are innovative, trusted and centred on our clients," said Steve Tennyson, Chief Technology & Operations Officer at BMO. The institute aims to enhance client experiences, increase productivity and efficiency while maintaining governance and risk management standards.

The announcement builds on BMO's existing technology investments. In February 2025, BMO became the first Canadian bank to join the IBM Quantum Network. The bank has received recognition from Evident AI as one of the world's top 10 banks for AI innovation and won the Commercial Banking Impact Award for Artificial Intelligence and Advanced Analytics from Datos Insights.

BMO has used AI technology across its operations for decades to personalize client experiences and automate business processes. The new institute will coordinate these efforts while advancing quantum technology development across the organization.

BMO Financial Group ranks as the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2026. The bank serves approximately 13 million clients across Canada, the United States, and select global markets.