Search results for Royal Bank of Canada
Finance
Banks rush to cut AI token costs amid bill shock
Banks are moving to curb surging token costs as they expand the use of artificial intelligence, after AI pricing models shifted from subscriptions to token-based billing. Executives at several banks have publicly flagged the growing burden. Banks are reassessing which models to apply to which tasks, opting for older or smaller models where possible. They are also considering open-source options, reusing stored answers and expanding in-house computing infrastructure. Some tasks may remain cheaper to handle with people.
AI & Enterprise
Tech firms cut jobs on AI productivity; Oracle signals major restructuring
Oracle is preparing to carry out job cuts over the coming months, Bloomberg News and the Financial Times reported on March 12. AI is boosting workplace efficiency, while firms are also seeking funds for high-cost data-centre investments. Oracle disclosed it added $500 million to restructuring costs, taking its fiscal-year total to $2.1 billion. RBC analyst Rishi Jaluria said the increase suggests planned workforce reductions. Oracle also pointed to AI coding tools as enabling fewer developers.
Crypto
Bank of Canada runs tokenised bond issuance pilot
A Bank of Canada-led Project Samara pilot has issued its first tokenised bond, Cointelegraph reported on Thursday. The test involved Export Development Canada, Royal Bank of Canada and TD Bank Group to assess whether distributed ledger technology can improve the efficiency of bond issuance, trading and settlement. Export Development Canada issued a C$100 million short-term bond traded by a closed group of investors on a Hyperledger Fabric-based platform.