BMO Expands Quantum Strategy Through Partnerships

Bank collaborates with Quantum Industry Canada and Chicago Quantum Exchange to advance quantum and AI capabilities in financial services.

Apr. 13, 2026 at 11:53am

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A highly polished, geometric metal cube floating on a clean white background, with dramatic studio lighting casting deep shadows to symbolize the abstract concepts of quantum computing and financial innovation.A minimalist, conceptual representation of the potential for quantum technologies to transform the financial sector through enhanced data security and computational power.Chicago Today

BMO is expanding its quantum strategy through new partnerships with Quantum Industry Canada and the Chicago Quantum Exchange. The collaborations will focus on early-stage ecosystem engagement, including knowledge-sharing, workforce development, and cross-sector dialogue spanning academia, industry, and policy. This builds on BMO's broader efforts to position the bank for long-term adoption, governance, and application of emerging technologies like quantum computing and AI.

Why it matters

As quantum technologies continue to evolve, financial institutions like BMO are looking to get ahead of the curve by engaging with leading research and industry organizations. These partnerships will help BMO develop the knowledge, talent, and governance frameworks needed to responsibly evaluate and apply quantum and AI capabilities in the delivery of financial services.

The details

Through the collaborations, BMO will participate in structured ecosystem partnerships focused on knowledge-sharing, workforce development, and dialogue across academia, industry, and policy communities. This supports BMO's efforts to personalize client experiences, augment team expertise and process automation, and contribute to the emergence of quantum technology applications for the financial sector.

  • On April 9, 2026, BMO announced the launch of the BMO Institute for Applied Artificial Intelligence & Quantum, a new Centre of Excellence.
  • The new partnerships with Quantum Industry Canada and the Chicago Quantum Exchange were announced on April 13, 2026.

The players

Quantum Industry Canada (QIC)

Canada's premier business-led quantum consortium, bringing together leading companies and strategic partners across the full quantum stack.

Chicago Quantum Exchange (CQE)

A Midwest-based intellectual hub that advances the science and engineering of quantum information, prepares the quantum workforce, and drives the quantum economy in collaboration with leading universities, national labs, and industry partners.

Dr. Kristin Milchanowski

Chief AI & Quantum Officer at BMO, leading the bank's efforts to responsibly integrate emerging technologies like quantum computing and AI.

Lisa Lambert

CEO of Quantum Industry Canada, overseeing the organization's efforts to translate Canada's quantum leadership into real capability, markets, and advantage.

David Awschalom

The University of Chicago's Liew Family Professor of Quantum Engineering and Physics and the founding director of the Chicago Quantum Exchange.

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What they’re saying

“Quantum technologies present significant long‑term potential, along with important questions around security, governance and real‑world application. These partnerships enable us to engage constructively with leading organizations across Canada and the U.S. as the field continues to develop, while taking a responsible, informed approach grounded in collaboration, learning and readiness.”

— Dr. Kristin Milchanowski, Chief AI & Quantum Officer, BMO

“Canada has played an outsized role in building the quantum era. The focus now is on translating that leadership into real capability, markets, and advantage. BMO's participation reflects the shift from exploration to execution, and the role leading financial institutions play in scaling Canada's quantum economy.”

— Lisa Lambert, CEO, Quantum Industry Canada

“The CQE is building and scaling a full‑spectrum quantum ecosystem by working closely with partners in key industries, like finance, to drive progress across the discovery‑to‑deployment pipeline. Quantum technologies offer significant potential for financial institutions, from quantum networks that may enhance the protection of personal information to quantum computing approaches that could help identify fraud more effectively over time. Engaging in early, cross‑sector dialogue with partners like BMO that share our commitment to responsible and efficient quantum sector growth is an important part of building a strong quantum economy.”

— David Awschalom, University of Chicago's Liew Family Professor of Quantum Engineering and Physics and Founding Director, Chicago Quantum Exchange

What’s next

BMO plans to continue its active engagement with Quantum Industry Canada and the Chicago Quantum Exchange, participating in knowledge-sharing, workforce development, and cross-sector dialogue to advance the responsible application of quantum and AI technologies in financial services.

The takeaway

By proactively partnering with leading quantum research and industry organizations, BMO is positioning itself to be at the forefront of quantum technology adoption in the financial sector. These collaborations will help the bank develop the necessary knowledge, talent, and governance frameworks to responsibly leverage emerging quantum and AI capabilities to enhance client experiences and operational efficiency.