BMO Bets on AI and Quantum to Predict Earthquakes and Wildfires in U.S. Push

Bank of Montreal is deploying artificial intelligence and quantum computing research to help predict earthquakes and respond to wildfires, Bloomberg reported on May 1, 2026, framing the effort as part of the Canadian bank's broader expansion into the United States. BMO Chief AI and Quantum Officer Kristin Milchanowski told Bloomberg she created and received a provisional patent for a quantum algorithm that she said could eventually help BMO and scientists predict earthquakes.

The Details

The disclosure came alongside BMO's April 2026 launch of the BMO Institute for Applied Artificial Intelligence and Quantum, an internal research body designed to accelerate the bank's work at the intersection of both technologies. Milchanowski moved into an expanded Chief AI and Quantum Officer role to lead the institute, according to the Financial Post.

Beyond the earthquake-prediction patent claim reported by Bloomberg, BMO is already using AI in a more operational capacity. Bloomberg reported the bank is deploying AI to help mobilize mobile banking units to communities affected by wildfires — a direct service-delivery application distinct from the longer-range research work.

On the quantum side, Milchanowski described a specific technical capability to the Financial Post: analyzing satellite imagery through a quantum neural network to project wildfire movement. "We can look at satellite data and run what's called a quantum neural network, and we're able to evaluate more components of that satellite image to then predict and have more precision around where that wildfire could be travelling next," she said.

The Financial Post also reported that BMO joined IBM's Quantum Network in February 2025, saying at the time it intended to use quantum computing to sharpen climate predictions — covering floods, fires, and other natural disasters — and to improve fraud detection and portfolio analysis. Banking Dive noted BMO was the first Canadian bank to join the IBM Quantum Network and described the new institute as a vehicle for advancing quantum strategy and enterprise-wide AI governance.

Milchanowski described the institute's mandate in broader terms. "We are expanding our research. (The institute) is going to provide a platform for AI and quantum to converge. We are going to stay on the leading edge of research of both," she told the Financial Post.

BMO's April 2026 institute launch materials and podcast said AI adoption had exceeded 96% across employees, and that the bank was scaling what it called intelligent agents under a responsible AI governance framework, according to the BMO Newsroom. PR Newswire reported that Milchanowski was originally appointed Chief Artificial Intelligence and Data Officer in October 2024 with a mandate covering AI, data, analytics, and robotics strategies.

Context

The AI and quantum push sits inside a larger financial strategy. Reuters reported on March 26, 2026, that BMO was targeting a return on equity above 15% by 2028 while accelerating growth across wealth management and its U.S. businesses. BMO Chief Executive Darryl White said at the bank's Investor Day that "our North American capital markets business continues to be a growth engine for us," according to Reuters.

Bloomberg framed the disaster-forecasting research as directly connected to that U.S. growth ambition — the bank's expanded American footprint increases its exposure to climate-driven risk in wildfire-prone western states, making better prediction tools a business interest, not just a research exercise.

The new BMO institute represents a consolidation of work that had been distributed across the bank's AI, data, and quantum teams. The Quantum Computing Report noted BMO's expanded quantum and AI strategy includes new partnerships alongside the institute, positioning the bank to compete with other large financial institutions investing in quantum applications for risk modeling and fraud detection.

What's Next

The BMO Institute for Applied Artificial Intelligence and Quantum, launched in April 2026, is now operational under Milchanowski's leadership, according to the Financial Post. The bank has not disclosed a timeline for when the earthquake-prediction quantum algorithm — the provisional patent for which Bloomberg attributed to Milchanowski — might move beyond the research stage or be deployed in any operational capacity.

BMO's IBM Quantum Network partnership, announced in February 2025 per the Financial Post, is the current framework within which much of the climate-prediction and fraud-detection quantum work is being conducted. Whether the new institute changes the terms or scope of that partnership has not been reported.