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Artificial Intelligence Market in Canada

Artificial Intelligence Market in Canada - Selma Ottonicar

Artificial Intelligence Market in Canada

By Selma Leticia Capinzaiki Ottonicar

Artificial intelligence has improved information and communication technologies in the 21st century. This technology is popularly known in the field of Computer Science, but other fields of knowledge are also studying that technology such
as Neuroscience, Psychology, Biology and Social Sciences. These areas seek to understand how human beings think, and how we make decisions to use them in technology development.

The goal is to help people to be more focused on creative activities, so repetitive tasks will be developed by intelligent machines. Because of that, artificial intelligence technologies are moving towards autonomous problem-solving and
decision-making.

The rapid development of artificial intelligence has led to some international ethical issues because some innovative technologies have exceeded society’s laws and morals. International researchers have been disseminating about the need for an ethical approach to the development of those technologies. Canada has adopted some ethical principles, and a law that regulates the creation of artificial intelligence is already under discussion.

Therefore, entrepreneurs of AI technology must consider three following aspects: 

1) Transparency, which is the explanation of its usefulness and importance, 

2) Dissemination of the programming code,

3) Staff training. 

These aspects are the guiding principles for start-ups in Canada. Most organizations that develop AI start as start-ups. Therefore, there are initiatives that drive the growth of these organizations.

Both Provincial and the Canadian Government have invested in the artificial intelligence innovation ecosystem. In 2019 the country invested 658 million dollars. In addition to government investments, there are also private investments such as start-up accelerators, venture capital funds and angel investors.

In addition to these investments, Canada is attractive because it has strong economic growth, low taxes, low business costs, excellence in scientific research, strong investment in innovation and is one of the countries with the highest
quality of life rates.

Three Canadian cities stand out in the context of artificial intelligence development: Montreal (Quebec), Edmonton (Alberta) and Toronto (Ontario). Each of these cities has universities and research institutes that develop these technologies. This demonstrates that artificial intelligence depends on scientific research and universities are strong allies in this economic context, as they generate cutting-edge knowledge that results in innovation.

Montreal city has Highest concentration of researchers about deep learning. Around 9000 students in AI and related programs. That city has two important institutes focused on AI: the Institute for Data Valorization (IVADO) and the Montréal Institute for Learning Algorithms (MILA). Furthermore, Edmonton is the home of the Alberta Machine Intelligence Institute (AMII). University of Alberta researchers rank #2 in Artificial Intelligence/Machine Learning combined
(Invest in Canada, 2021)

Toronto has the highest concentration of AI start-ups in the world. Home to the Vector Institute, NextAI, and the Creative Destruction Lab. Google, Thomson Reuters, TD Bank Group, Shopify and 26 more companies have committed a combined total of over $80 million over ten years to support Toronto’s Vector Institute.

Quebec City has a Talented and a committed workforce, an active and highly qualified population. 20% of the population over 15 years old is trained in new technologies, Nearly 20,000 new university and college graduates each year, and

has the highest employment rate in Canada: 90% in 2018 among 25 – 54 years-old with an average unemployment rate of 4.73% from 2008 to 2018.

In conclusion, we would like to emphasize that Canada has invested massively in start-ups of artificial intelligence. In 2019, Canada invested CAD 658 millions of dollars. Three cities are important for the innovation ecosystem of AI: Montréal, Edmonton and Toronto. Each city is in different provinces:  Quebec, Alberta and Ontario. Because of that, there is no Canadian Silicon Valley centralized in a specific location like in the United States. Each province has specific public policy. The Canadian federal government regulates AI to follow national ethical guidelines. Furthermore, universities have ethical committees to evaluate the development of scientific research of AI. 

 

References

Béchamp, N. (2021). Canada: A playground for cleantech companies. Invest in Canada. https://www.investcanada.ca/blog/canada-playground-cleantech-companies

Federal Government of Canada. Ethical Principles to develop AI in Canada, 2021. Retrieved from https://cifar.ca/ai/  

Federal Government of Canada. Invest in Canada, 2021. Retrieved from: https://www.investcanada.ca/

Federal Government of Canada. Startup Market in Canada, 2021. Retrieved from:  https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/canada-wants-entrepreneurs.html  

Federal Government of Canada. Designated Organizations: venture capital funds, angel investors groups and businesses incubators, 2021. Retrieved from:  https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/start-visa/designated-organizations.html#venture  

Liu, Shanhong (2021).Expected timeline when artificial intelligence (AI) will transform organizations and industries worldwide as of 2020. Statista. https://www.statista.com/statistics/986615/united-states-artificial-intelligence-acquisition-development-methods/

MacGregor, S. Discover Why Edmonton, Alberta Is One Of Canada’s Hottest Destinations, 2021. Retrieved from:  https://www.forbes.com/sites/sandramacgregor/2020/01/09/discover-why-edmonton-is-one-of-canadas-hottest-destinations/?sh=1e52c2334967  

Meltzer, H. Montreal Canada the perfect city, 2017. Retrieved from: https://www.telegraph.co.uk/travel/destinations/north-america/canada/quebec/articles/montreal-canada-the-perfect-city/

MoneyTree Canada Report (2019). PwC Canada and CB Insights. https://www.pwc.com/ca/en/technology/publications/697449-pwc-cb-insights-money-tree-canada-h2-19.pdf

Needham, Mass. (2021). IDC Forecasts Improved Growth for Global AI Market in 2021. IDC Analyze the Future. https://www.idc.com/getdoc.jsp?containerId=prUS47482321

Portrait of the Artificial Intelligence Ecosystem of the Greater Québec City Region. (2020).Institut Intelligence et Données, Université Laval, and Québec International Economic Development. https://drive.google.com/file/d/1RXbu8FBbGukRufiX78_G7Xc5mU7cGzhh/view

Shanhong, L. (May 20, 2021). Volume of AI financing Canada 2012-2019. Statista. https://www.pwc.com/ca/en/technology/publications/697449-pwc-cb-insights-money-tree-canada-h2-19.pdf

Wallace, D. Canada’s multicultural melting pot, 2020. Retrieved from:  https://www.telegraph.co.uk/travel/destinations/north-america/canada/toronto/articles/an-expert-travel-guide-to-toronto/ 

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