IVADO and Fin-ML: Six Years Shaping the Next Generation in AI and Quantitative Finance

Montreal, June 25, 2025 – Launched in 2019 with $1.65 million in funding from NSERC’s CREATE program, the Fin-ML project has trained a new generation of specialists in artificial intelligence (AI) applied to quantitative finance. Led by Professor Manuel Morales (Department of Mathematics and Statistics, Université de Montréal) in close partnership with IVADO, the program has mobilized a broad academic and industrial community across Canada over six years.

Its mission: to equip emerging talents with advanced skills in machine learning, mathematics, statistics, quantitative finance, business analytics, and AI to meet the evolving needs of a financial sector undergoing digital transformation.

A Strong Pan-Canadian Collaboration

Fin-ML brought together nearly 60 experts from six universities (Université de Montréal, HEC Montréal, Concordia University, University of Calgary, University of Waterloo, Queen’s University), collaborating with over 60 organizations in the financial sector, including National Bank, Desjardins, TD, the Montreal Exchange, BNP Paribas, Finance Montreal, Intact, and Beneva.

Immersive and Applied Training

Nearly 200 graduate students completed an enriched program combining specialized courses, technical workshops (including the Fin-ML IVADO Online Workshop), internships, mentoring, conferences, and professional development activities. Three scholarship programs supported emerging talent nationwide, while a series of community events extended the project’s reach.

Lasting Impact

Among Fin-ML’s key achievements is the 2024 creation of GAIIA, a collaborative research initiative aimed at accelerating the transition to a resilient, low-carbon economy.

By harnessing AI and data science, GAIIA develops tools to integrate ESG factors (Environmental, Social, and Governance) into investment decisions and assess their real-world impact. Led by an interdisciplinary team from five universities (Université de Montréal, HEC Montréal, Polytechnique Montréal, Concordia University, UQAM) and two college/CCTT institutions (Collège de Maisonneuve, CCTT Jacobb), GAIIA maintains ongoing dialogue with industry to address concrete challenges in the financial sector.

Learn more about GAIIA >>

“Fin-ML perfectly exemplifies IVADO’s mission to build strong bridges between cutting-edge academic research and the real needs of strategic sectors such as finance,” said Réjean Roy, Director of Training and Knowledge Mobilization at IVADO.

“This project is a model of successful partnership, laying the groundwork for a new generation of professionals capable of sustainably transforming the financial sector,” added Manuel Morales, Professor at the Department of Mathematics and Statistics, Université de Montréal.

Fin-ML has strengthened Canada’s AI finance ecosystem, positioning the country as a global leader in this strategic field.