The Autorité des marchés financiers (AMF) and Mila - Quebec Artificial Intelligence Institute have announced a three-year strategic partnership to advance artificial intelligence applications in the financial sector.
The Autorité des marchés financiers (AMF), Quebec's financial market regulator, and Mila, have entered into a three-year strategic partnership aimed at advancing artificial intelligence in the financial sector. This collaboration is expected to generate significant benefits for all players in this vital sector of Quebec's economy.
The partnership will focus on exploring the opportunities and risks that AI brings to the financial sector, its responsible use by industry participants, and its potential as a driver of productivity and efficiency in AMF's own activities.
The collaboration encompasses joint work in AI and deep learning development and research, adhering to ethical and responsible principles. It also provides the AMF with direct access to Mila's extensive ecosystem of researchers, students, professors, corporate partners, and tech start-ups. Furthermore, the AMF will have access to Mila's offices in Montreal, fostering synergy between AMF's AI needs and Mila's ongoing research.
Stéphane Létourneau, Executive Vice-President of Mila, emphasised the potential of AI to benefit organisations, financial sector professionals, and society at large when used conscientiously. He expressed Mila's enthusiasm for working with the AMF to address challenges in financial market regulation using AI.
This partnership underscores AMF's commitment to innovation within a responsible and ethical framework, while also supporting a Montreal-based organisation with global reach. It represents a step forward in integrating AI technology into financial sector regulation and operations.
By combining AMF's regulatory expertise with Mila's AI research capabilities, this partnership aims to drive innovation and enhance the integrity and efficiency of Quebec's financial sector.