Royal Bank of Canada Targets $700M to $1B in AI-Driven Gains by 2027
Royal Bank of Canada expects artificial intelligence investments to deliver between 700 million and 1 billion Canadian dollars in combined revenue gains and cost reductions by 2027, according to a company report. The bank launched this three-year strategic plan a year ago to systematically deploy AI across its operations.
The bank's CEO said RBC is advancing faster than competitors in AI deployment. Progress is visible in internal operations, consumer services, capital markets, commercial banking, and call center functions.
A Decade-Long Investment
RBC has invested in AI for more than ten years and allocates over 5 billion Canadian dollars annually to technology. The bank operates a specialized research unit focused on applying machine learning to financial services.
That unit has produced an enterprise data and AI platform and an electronic trading system using deep reinforcement learning. In May 2025, the capital markets division created a dedicated team for AI and digital innovation, adding a chief strategy and innovation officer and a head of AI and digital innovation.
Expanding Coverage Through AI Adoption
Investment banking analysts are increasingly using AI tools to expand their coverage. The number of companies covered by RBC research analysts grew from roughly 1,500 in 2023 to approximately 1,700, with a target of 2,500.
Employee adoption of AI tools is growing across the organization, though bank officials acknowledge significant untapped potential for broader implementation.
For executives and strategy professionals overseeing similar initiatives, AI for Executives & Strategy and AI for Finance offer focused resources on implementation and business applications.
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