RBC Steps Up AI Ambitions With Vancouver Hub Expansion

Dow Jones

05/29

By Adriano Marchese

Royal Bank of Canada is expanding its Vancouver, British Columbia, tech hub as it accelerates investments in artificial intelligence and builds out the infrastructure needed for enterprise-wide deployment.

The Canadian financial institution said Friday that it plans to grow its presence in the province by expanding it banking and innovation hub which includes the Vancouver Borealis AI Hub.

The move will integrate AI capabilities across cloud, cyber, digital and analytics as RBC works toward generating 700 million Canadian dollars ($507.8 million) to C$1 billion in AI-driven enterprise value.

The bank plans to scale up its operations at the Vancouver hub, expanding its staffing footprint to 600 by the end of the year, from 350 currently and ultimately, support about 1,000 jobs across the province by 2029.

RBC also intends for the hub to serve key client groups within its commercial banking business, it said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 29, 2026 10:25 ET (14:25 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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