A recent study by Evident Insights Ltd. has revealed that Canadian banks are trailblazers in artificial intelligence innovation globally. In a notable achievement, three Canadian banks – the Royal Bank of Canada (RY-T), Toronto-Dominion Bank (TD-T), and Bank of Montreal (MO-T) – have secured third, sixth, and ninth places respectively in the Evident AI benchmarking index. This ranking considered the involvement of the world’s fifty largest banks in AI through research papers, patents, and startup investments from November 2023 to March 2024. The CEO of Evident Insights, Alexandra Mousavizadeh, emphasized the importance of research and patenting in AI as key drivers for the high ranking of
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