Home Threats Royal Bank of Canada invests $2m in BGU’s cybersecurity research center

Royal Bank of Canada invests $2m in BGU’s cybersecurity research center

Royal Bank of Canada

With an aim to strengthen the artificial intelligence and machine learning practices, The Royal Bank of Canada (RBC) is investing $2 million in Cybersecurity Research Center at Ben-Gurion University. The funding supports the development of existing artificial intelligence, creation of advance protection methods, machine learning procedures and for mitigation of their vulnerability to data threats.

The research center will be supervised by Prof. Yuval Elovici and Dr. Asaf Shabtai from the Department of Software and Information Systems Engineering at the Ben-Gurion University Cybersecurity Research Center.

Speaking on the latest move, Martin Wildberger, Executive Vice President at RBC said, “In today’s incredibly complex world, we need advanced technology like AI and machine learning to continue developing leading-edge cyber security. This partnership will help support our cyber defense by working with prominent experts in the field, such as the researchers at Ben-Gurion University.”

Danny Shtaier, High-Tech Business Development, at BGN Technologies said, “This partnership provides our researchers with the opportunity to further apply their leadership in cyber security research to the banking industry, where security is crucial for daily operations and the safety of customers.”

Many Canadian organizations have magnified their investment and focus on cybersecurity. In November 2017, Optiv Security, a provider of end-to-end cyber security solutions, announced that it is continuing to accelerate its growth strategy by acquiring Conexsys, a Toronto-based security and networking solutions provider. This acquisition increased Optiv’s ability to serve Canadian, U.S. and global clients with expanded skills, knowledge and presence. Additionally, Optiv enhanced its vertical presence in government markets, with the strong business relationships Conexsys brings with the Canadian government.