Financial Wire

Bank of Montreal Announces Partnerships With Quantum Industry Canada, Chicago Quantum Exchange

-- Bank of Montreal (BMO.TO), up 3% in U.S. pre-market trading, Monday announced new partnerships with Quantum Industry Canada (QIC) and the Chicago Quantum Exchange (CQE).

BMO last week launched its Institute for Applied Artificial Intelligence & Quantum, a centre of excellence that is focused on the responsible application and governance of AI and the advancement of quantum capabilities. These initiatives reflect BMO's commitment to "innovating, developing and integrating" technologies that will shape the future of financial services and the broader economy, a statement said.

"Quantum technologies present significant long-term potential, along with important questions around security, governance and real-world application," said Dr. Kristin Milchanowski, chief AI & quantum officer, BMO. "These partnerships enable us to engage constructively with leading organizations across Canada and the U.S. as the field continues to develop, while taking a responsible, informed approach grounded in collaboration, learning and readiness."

BMO also recently joined the IBM Quantum Network.

BMO shares were last seen up US$4.28, to US$148.59, in New York trading.

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