RBC announced a key partnership with Enterprise AI startup Cohere, to develop first Canadian enterprise-wide #GenAI platform. Three key statements from RBC's Chief Science Officer's interview with The Globe and Mail that caught my attention:
Using GenAI with sensitive customer data SAFELY. → "Up to now, we haven't felt comfortable bringing RBC sensitive data closer to these technologies..."
Taking control of the AI stack. → "Bringing all of that infrastructure onto our premises in our data centres is what addresses that risk off the bat in a definitive way."
This is AI with PURPOSE. → "Where there's more value is when you can make it more relevant to the workflow ..."
Three key signals to note:
Canadian banks are global leaders in AI maturity (RBC and TD feature in the Top 10 per Evident's AI Index)
RBC has built one of Canada's largest private GPU farms - this is the infrastructure play that matters
2025 is the year AI Agents will go mainstream, Cohere's platform called "North", allows users to quickly deploy AI agents to execute tasks across various business sectors cutting time it takes to complete a task by 5X.
What I Think:
Finding the sweet spot between #AI advancement and data security. As someone who's worked with enterprise tech, this balance is crucial for regulated industries.
Banks sit on incredibly valuable data that could transform customer experience. This partnership is a great example of how to responsibly bridge the gap between AI innovation and security requirements. —
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Disclaimer:
Ram Srinivasan currently serves as an Innovation Strategist and Transformation Leader, authoring groundbreaking works including "The Conscious Machine" and the upcoming "The Exponential Human."
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