RBC’s new AI chief says data will set winners apart

https://thelogic.co/news/rbc-ai-chief-data-scaling/

Publish Date: 2026-03-23 06:45:00

Source Domain: thelogic.co

Royal Bank of Canada’s AI Leadership: Bruce Ross, recently appointed as RBC’s head of AI, calls AI a “generational technology” and outlines its strategic importance in bank’s operations, positioning RBC at the forefront of AI adoption.
Banking Sector AI Maturity Ranking: RBC is noted as the highest-scoring bank in Canada and third globally for AI maturity, largely due to investments in machine learning, including via its in-house research lab, Borealis.
Investments and Financial Goals: RBC projects generating between $700 million and $1 billion in enterprise value from AI by 2027 and is systematically auditing AI-driven performance gains to meet these targets.
Competitive Edge Through Data: RBC claims its competitive advantage in AI lies in its extensive and proprietary data, which is greater in scale compared to other Canadian banks, giving it a substantial edge in AI model training.
Federal Support and Sovereign AI: RBC is leveraging Canada’s efforts to develop its own sovereign AI and has built significant in-house computing capacity to secure sensitive client data, positioning itself well to use emerging national AI infrastructures.
AI’s Triple Application Strategy: RBC’s AI strategy is divided into three stages: enhancing employee productivity and operational efficiency, reducing costs and speeding routine processes, and creating new business solutions to serve clients better.
Caution About Job Displacement: While recognizing AI’s productivity benefits, Ross acknowledges the technology’s potential to reduce jobs in some areas, emphasizing the need for reskilling both employers and employees to adapt to changes.
Skeptical On Overvaluation: Ross is cautious about the current high valuations in AI, noting that the rapid pace of advancement could make specific AI tools quickly obsolete.