TORONTO — BMO Financial Group announced the appointment of Kristin Milchanowski to the newly created role of Chief Artificial Intelligence and Data Officer.
The bank said Milchanowski will oversee multiple areas including AI, analytics and robotics strategy, as well as bank-wide data management and data governance.
Chief Technology Officer Steve Tennyson said in a statement that Milchanowski will explore leveraging AI to differentiate BMO’s digital products from competitors.
Milchanowski comes to the role from EY, where he was a global innovation partner focused on AI, high-process computing and quantum technologies, BMO said. She is also an AI Associate Fellow at the University of Oxford.
The Bank of Canada says the financial sector is investing in AI to improve customer service, strengthen compliance and risk management, and better assess credit and liquidity risks.
However, the central bank has warned that this trend could lead to operational risks, including through dependence on several third-party service providers and potential illusions and biases from predictive AI.
This report by The Canadian Press was first published Oct. 2, 2024.
Companies featured in this article: (TSX:BMO)
canadian press
https://toronto.citynews.ca/2024/10/02/bmo-names-kristin-milchanowski-to-new-chief-ai-officer-role/
