Scotiabank is investing $2.5 million over five years in a renewed partnership with Smith School of Business at Queen's University to bolster Canada's AI-ready workforce through applied research and experiential learning. The announcement was made on June 18, 2026.
Investment Details
The funding, provided through ScotiaRISE—Scotiabank's 10-year, $500-million community investment initiative focused on economic resilience—will support the Scotiabank Centre for Analytics & AI at Queen's Smith School of Business. Established in 2016, the centre brings together faculty, graduate students, and industry experts to collaborate on research and prepare students for careers in enterprise AI.
Key Focus Areas
- Hands-on Learning: Funding for practical teaching, workshops, and global convenings.
- Applied Research: Support for early-stage research with social applications.
- Scholarships: Targeted scholarships to expand access to advanced AI education.
- Community Outreach: Strengthening AI literacy in communities and among small businesses.
Statements from Leaders
Phil Thomas, Chief Strategy and Operating Officer at Scotiabank, stated: "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. 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."
Ceren Kolsarici, Director of the Scotiabank Centre for Analytics & AI, expressed gratitude: "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. This generous gift allows us to deepen that impact by advancing an inclusive, AI-ready workforce through hands-on learning and real-world innovation."
Internal AI Development at Scotiabank
Scotiabank is also investing in AI talent internally through Scotia Intelligence, its unified data and AI platform. Employees gain access to a resource hub with self-directed learning and progressive training, from foundational AI literacy to role-specific applications. Hands-on workshops, community-based support, and mandatory AI risk training ensure safe and responsible AI adoption. The bank continues to attract high-caliber engineering, data, and product talent to improve outcomes for clients.
