RBC is making significant strides in artificial intelligence, aiming for up to C$1 billion in enterprise value growth by 2027. The bank has positioned itself among the top five global banks in AI research, actively publishing findings and developing practical applications. One key initiative is the proprietary Atom model, designed to enhance credit decision-making and personalize loyalty programs. In 2023, RBC launched several AI programs focused on various areas, including upskilling advisors and improving mortgage processing. Although the bank has seen some costs related to these investments, it remains optimistic about meeting its financial targets. RBC’s commitment demonstrates the broader trend in banking, where institutions are increasingly investing in AI to drive efficiency and improve customer service.