Royal Bank of Canada Invests $2 Million in Israeli Academic Cybersecurity Research
The bank invested in research on artificial intelligence and machine learning applications for cybersecurity at the Ben-Gurion University of the Negev
The Royal Bank of Canada (RBC) has invested 2$ million in the cybersecurity research center at Israel’s Ben-Gurion University of the Negev (BGU), RBC and BGU’s technology commercialization company, BGN Technologies Ltd., announced Tuesday. The funding will be used for research on artificial intelligence and machine learning applications for cybersecurity. As part of a partnership between the bank and the university, BGU researchers will apply their methods to the banking industry, Danny Shtaier, a business development manager at BGN Technologies, said in a statement. BGU is a research university founded in 1969 in Beer Sheva, a desert town in southern Israel. In May, the university launched a $1 million investment fund aimed at its students and graduates.