00:00You think about quantum, right? It's sort of billed as the next big thing after AI,
00:05that after AI rocks our world, it's just going to get turned over again by quantum. So talk to us
00:10a little bit about, you know, how you're thinking about how that's going to impact potentially
00:15BMO and banks overall. Katie and Roman, it's so exciting to be with you today. You know,
00:21quantum is here to impact the banking sector, and it is not necessarily going to be tomorrow,
00:27but we do think that it's going to be in the next couple of years. IBM just released yesterday
00:33some news that they believe that they're going to be able to reach a fully fault tolerant quantum
00:39computer in 2029. So that's really exciting for this domain. We see three really productive uses
00:46for quantum, and we're studying that today at BMO. Those three places are around optimization and
00:53then also risk forecasting, and then cryptography. Those are the three big things that we're looking
00:59into. And the optimization is a really fascinating conversation for right now because of compute.
01:05So when we think about moving data through our data centers, better, smarter, faster,
01:10we're going to be able to leverage the quantum technology to optimize that routing so that we
01:15can eventually use less compute.
01:18And talk to us a little bit about how, when we're talking about quantum, how that currently
01:22folds into the AI reality that we're living in right now and trying to come to grips with.
01:29So AI and quantum are going to be used simultaneously. You're not going to ever have a quantum environment
01:36that doesn't leverage the AI technology. And in fact, I really believe in the 25 years that I've
01:41been at this, this is something I've studied for a very long time. The reason why we're at the
01:47cusp of quantum right now is because of the advances we've made in AI and having that
01:53advantage at our wind and our sail, if you will, is going to help progress those optimization type
02:01problems particularly. And that optimization and forecasting are things that are applicable
02:06across all industries. So that's kind of where we're seeing a lot of the momentum behind the
02:13research that we're doing now. We can simulate the quantum environment right now. And the ideas
02:20that we get from that, we're able to apply into our AI environments and get the benefits from them
02:26now.
02:26Yeah. I am curious though about, I mean, we've spoken so much in this program about the deployment
02:31of AI internally for a lot of these companies. I think we're now starting to talk a little bit
02:35about how some of these companies have deployed it, maybe not in the best way or the not the most
02:40efficient way. And we're actually hearing some of those companies have been talking about it publicly,
02:43how they've had to rethink that. It's one thing to say, okay, we know this is a future. We know
02:48we
02:48need to use it. But when do they sit down and really strategize about the best way to apply it?
02:53Do
02:53they understand it?
02:55So our board and our CEO really do understand this. And I think that's also why we just set up
03:01our
03:01Institute for Applied AI and quantum is because we understand that it takes a very serious strategy
03:08and a very pointed one. Adoption capability, AI capability is out there. It's commoditized for
03:15everyone, but the execution isn't. And that is what we need to see more of in the market. And so
03:21we're hyper focused on bringing that execution to our clients and teammates. And we're so pedantic with
03:27it that we understand what type of initiatives really scale and drive at least one basis point.
03:35That's the level of precision that more of us in the market need to get to. So you're right on
03:40the point there.
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