Bank to collaborate with MIT CSAIL on responsible AI, cybersecurity, and financial crime research
RBC has joined MIT’s FinTechAI@CSAIL initiative to access early-stage research into artificial intelligence applications in financial services, as the bank aims to generate up to $1bn in AI-related value by 2027.
The initiative, based at the Massachusetts Institute of Technology’s Computer Science and Artificial Intelligence Laboratory (CSAIL), focuses on how AI will influence the future of finance.
RBC’s three-year membership includes work on machine learning, predictive analytics, secure computation, cybersecurity, and data science.
RBC and FinTechAI@CSAIL will conduct research on explainability, bias mitigation, and LLM safety—components of responsible AI—as well as cybersecurity and financial crime prevention.
RBC ranks third among 50 global banks for AI maturity in the Evident AI index.
It recently set a target of generating between $700m and $1bn in value from AI initiatives by 2027.
Greg Mori, VP and RBC Fellow at RBC Borealis, said the collaboration with FinTechAI@CSAIL gives the bank access to early-stage technologies focused on financial services.
He noted that the joint work between RBC and MIT aims to develop tools informed by research in responsible AI.
As part of the membership, RBC will gain access to CSAIL graduate students, attend technical briefings and workshops, and participate in executive boards, research reviews, and innovation pilots.
Foteini Agrafioti, SVP of Data & AI at RBC, said the bank supports efforts to strengthen Canada’s AI ecosystem through collaboration across institutions, academia, and industry.
She added that the partnership aligns with RBC’s internal AI policies focused on accountability, fairness, privacy, security, and transparency.
MIT CSAIL Director Professor Daniela Rus said the initiative will focus on advancing AI research and developing applications for the fintech sector.
She noted that the goal is to create systems that are technically sound and meet standards for reliability in financial contexts.
