To help fill this void, enterprises are increasingly turning to a tried and true source: higher education. The talent pool for emerging technologies, such as artificial intelligence (AI), machine learning (ML) and internet of things (IoT), will fall short in filling at least 30 percent of global demand, according to IDC. Organizations struggle to hire data scientists and analytics experts who can munge and extract insights from data. "CIOs will also realize that talent shortage will be a moving target driven by supply and demand and they will have to find adaptive, flexible approaches to meet changing needs," IDC analysts wrote in a recent research report. The idea of scouring campuses for tech talent isn't new, but anecdotal evidence suggests that companies are redoubling their efforts to lure -- and help train -- future technologists by partnering with colleges and universities on innovation labs and internship programs aimed at developing real-world digital skills.

RBC this week announced two initiatives in collaboration with the University of Toronto. The initiatives are designed to maintain Canada as a leading center of development in machine learning and artificial intelligence. RBC Research in Machine Learning will be a state-of-the-art research practice working to push the boundaries of the science around machine learning. RBC is also partnering with the Creative Destruction Lab at the University of Toronto's Rotman School of Management, becoming a Founding Partner of the Lab's Machine Learning Initiative focused on artificial intelligence-enabled companies.