TSX:RYBanks
What Royal Bank of Canada (TSX:RY)'s New AI Group and $1 Billion Target Means For Shareholders
Earlier this week, Royal Bank of Canada announced the creation of a dedicated AI Group, led by veteran executive Bruce Ross and reporting directly to the CEO, with a mandate to scale artificial intelligence across its global operations and workforce.
The bank is targeting up to $1 billion in enterprise value from AI-related benefits by 2027, highlighting how aggressively large incumbents are now looking to quantify returns from data and automation initiatives.
Next, we’ll examine how RBC’s...