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Scotiabank is investing $2.5 million over five years in a renewed partnership with Smith School of Business at Queen’s University to help prepare Canada’s workforce for the growing demands of the artificial intelligence economy.
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According to a news release, the funding, provided through ScotiaRISE, Scotiabank’s 10-year, $500-million community investment initiative, will support applied research, experiential learning opportunities and the ongoing work of the Scotiabank Centre for Analytics & AI.
The Scotiabank Centre for Analytics & AI will help prepare students for careers building and deploying enterprise AI. Through industry-academic collaboration, applied research and hands-on learning, the renewed partnership aims to strengthen Canada’s analytics and AI talent pipeline while advancing responsible AI governance and real-world innovation.
The centre has been operating since 2016 and has helped fund and graduate more than 30 master of science and PhD students into industry and faculty roles, while engaging more than 80 undergraduate students annually through its AI academy.
“For more than a decade, Scotiabank has invested in the practical, hands-on learning of data and analytics research to help prepare students for real-world opportunities through our partnership with Queen’s,” said Phil Thomas, chief strategy and operating officer. “AI is reshaping how organizations operate, and as technology has evolved, so too has our support. I’m proud that we are investing in the skills the next generation of talent and business leaders will need to succeed, while advancing responsible AI with strong governance and oversight.”
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Scotiabank’s renewed agreement with Queen’s University’s Centre for Analytics & AI will support inclusive, real-world AI education and research for students, professionals and communities. It will also help fund hands-on learning, early-stage research with social applications, practical teaching, and thought leadership through workshops, speakers and global convenings.
“We are grateful for Scotiabank’s long-standing partnership and proud of what we have accomplished together since 2016, including securing multimillion-dollar NSERC and Mitacs grants that have helped prepare graduate students and research fellows for leadership in the digital economy,” said Ceren Kolsarici, director, Scotiabank Centre for Analytics & AI, at the Smith School of Business. “This generous gift allows us to deepen that impact by advancing an inclusive, AI-ready workforce through hands-on learning and real-world innovation.”
The announcement comes as Canada’s new national AI strategy puts renewed attention on the skills, talent and adoption gaps the country will need to close to compete. According to a recent KPMG study, Canada ranks 44th out of 47 countries in AI literacy and training, while a large majority of the workforce say they want or need to upskill on generative AI.
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