The Globe and Mail reports in its Tuesday edition that Canadian banks hold three of the top-10 spots worldwide for artificial-intelligence innovation, according to a new ranking. The Globe's Jameson Berkow writes that RBC, TD and BMO ranked third, sixth and ninth in the world, respectively, according to a report published early Tuesday by AI benchmarking platform Evident Insights. The rankings were based on several factors, including the number and quality of AI-related research papers, patent filings and investments into AI-related start-ups made by 50 of the world's largest banks from November, 2023, through March, 2024. Evident's Alexandra Mousavizadeh said that where the Canadian banks really punch above their weight is not in the sheer number of AI-related patents they file, but in how much impact their patents are having on the development of AI banking tools worldwide. RBC, the report said, garnered 2.7 times more citations per patent than the index average. "It means you have the ability as an organization to see what is on the horizon and patent it and it is an important patent, therefore it will get citations," Ms Mousavizadeh said. "That is one way of measuring whether you are punching above your weight."