13 AI News and Ratings on Wall Street’s Radar

6. Royal Bank of Canada (NYSE:RY)

Number of Hedge Fund Holders: 51

Royal Bank of Canada (NYSE:RY) and Cohere have partnered to co-develop “North for Banking,” a secure generative AI solution tailored for financial services. The platform integrates Cohere’s enterprise AI expertise with RBC’s proprietary models and internal systems, with a focus on risk management and security to protect data privacy. Cohere co-founder Ivan Zhang said:

“North for Banking will be an end-to-end AI solution that financial industry firms can seamlessly integrate to increase workforce productivity and operational efficiency. By prioritizing security and data privacy protections, companies can have peace of mind as they deploy it internally at scale.”

RBC’s Dr. Foteini Agrafioti noted the bank’s commitment to AI innovation and mentioned its responsible AI principles and nearly a decade of AI investment. RBC has already implemented generative AI in its advice center and Capital Markets division to improve workflows and productivity, with plans to expand use cases in the coming months.