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Royal Bank of Canada
Symbol RY
Shares Issued 1,384,028,417
Close 2026-11-05 C$ 285.86
Market Cap C$ 395,638,363,284
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Globe says Power's Wealthsimple to launch AI assistant

2026-11-06 09:07 ET - In the News

See In the News (C-POW) Power Corp of Canada

The Globe and Mail reports in its Friday edition that Power Corp. of Canada's Wealthsimple Financial is launching an artificial intelligence assistant. The Globe's Stefanie Marotta writes that unlike Wealthsimple, many of the largest lenders have blocked or restricted access to third-party agents, citing data security concerns. Wealthsimple is taking a different approach in response to customers requesting access to these types of AI tools. Beginning in early 2027, Wealthsimple clients can connect their accounts to ChatGPT or Claude, granting different levels of access with client approval. Critical actions will require extra security checks. Wealthsimple currently allows only ChatGPT and Claude access, but is in talks with other AI and tech companies to evaluate their security compliance. They are also mulling access for Meta's Muse and Spear Street Technology's Instinct. Last month, Royal Bank of Canada, Bank of Montreal and Toronto-Dominion Bank said they had blocked third-party AI agents from accessing their digital properties. Major banks in the U.S., including JPMorgan, Bank of America and Morgan Stanley, had previously blocked or limited outside AI agents' access to their customers' data.

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