Canadian bank recruits AI pioneer
(18 January 2017 – Canada) Royal Bank of Canada has hired one of the pioneers in artificial intelligence as an advisor to a new research lab dedicated to machine learning.
The bank signed on Dr Richard Sutton, a professor of computing science at the University of Alberta a leader in reinforcement learning which focusses on machine learning’s ability to make predictions without historical data or explicit examples.
The techniques are best known for their recent use in securing a win over a human world-champion in the game of Go. The technique has also been applied in the use of robotics and self-driving cars.
Speaking about his role, Sutton said: "We've only scratched the surface of what reinforcement learning can do in finance and are excited to unleash even greater possibilities with this collaboration."
The bank says the new Edmonton-based lab will work closely with the Alberta Machine Intelligence Institute (Amii), based at the University of Alberta, to identify and pursue further research collaboration opportunities on an ongoing basis.
Foteini Agrafioti, head of RBC Research, says: "RBC Research has built strong capabilities in deep-learning, and with this expansion, we are well poised to play a major role in advancing research in AI and impact the future of banking."
The move follow’s RBC recent partnership with the University of Toronto on a programme of research in machine learning and AI, and its funding of a mentoring program for AI-focused entrepreneurs and startups.
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