Ultracold paramagnetic and polar diatomic molecules are among the promising systems for quantum simulation of lattice-spin models. Unfortunately, their experimental observation is still challenging. Based on our recent ab initio calculations, we analyze the feasibility of all-optical schemes for the formation of ultracold
87Rb84Sr bosonic molecules. A first possibility is photoassociation followed by spontaneous emission. The photoassociation rate coefficients toward electronic states converging to the
87Rb(5s2S1/2)+84Sr(5s5p3P0,1,2) asymptotes are particularly small for vibrational levels close to the asymptote. The creation of molecules would be more interesting by using deeply bound levels which preferentially relax to the ${v}^{\ensuremath{'}\ensuremath{'}}=0$ level of the ground state. On the other hand, the photoassociation rate coefficients toward electronic states correlated to the
Rb(5p2P1/2,3/2)+Sr(5s21S0) are significant for levels close to the asymptote. The spontaneous emission thus creates weakly bound molecules in a single vibrational level. A second option relies on stimulated Raman adiabatic passage implemented in a tight optical trap. It efficiently creates weakly bound ground-state molecules in a well-defined level, thus providing a promising alternative to magnetic Feshbach resonances for further population transfer toward the absolute ground state of the RbSr molecule.