Several factors contribute to Canada’s competitive edge in artificial intelligence (AI), including a dynamic ecosystem and talent-driven initiatives.
Many aspects of our daily lives are influenced by artificial intelligence (AI), from Netflix movie recommendations to Google searches that know exactly what we are searching for. As well as increasing productivity, efficiency, and problem-solving abilities, businesses are leveraging AI to improve their operations. Machine learning, deep learning, and NLP are all categories of artificial intelligence that they utilize to address these issues. AI is a rapidly evolving area that will have a major impact on enterprises, industries, and society around the world, which is why countries will need to adapt quickly and consistently drive AI innovations.
The Canadian research community, talent pool, and contribution to AI advancement make it a leading country in artificial intelligence (AI). In order to maintain its leadership position in this rapidly changing environment, Canada must continue building on its current advantages. Creating the right environment will also enable international businesses to scale up their operations in the AI sector.
The world’s ai landscape and Canada’s place in it
In the world of artificial intelligence, Canada’s vibrant economic climate is lauded for its ability to support competitive research. An innovation ecosystem, a robust operating environment, and a favorable investment climate provide companies in the AI sector with the support, tools, and resources they need to expand in Canada. The fact that Canada ranks fourth in the world for investment, implementation, and innovation in AI is not surprising (out of 54 countries studied).
Continuous breakthroughs in a highly competitive global commercial environment are driving the development of Canada’s AI industry. Canadian startups are developing new business models and advancing technology more quickly than their overseas counterparts. Canada produced more AI patents between 2015 and 2018 than the G7 and China combined. The academic community in Canada supports these ongoing developments through a substantial amount of research. As a matter of fact, Canada is among the top five nations in the world when it comes to producing cutting-edge artificial intelligence research, and it is recognized as one of the best centers in the world for AI research as well.
About Canada’s industry
As the first government in the world to release an artificial intelligence strategy, Canada released its Pan-Canadian Artificial Intelligence Strategy in 2017. Over the next five years, the federal government plans to spend $125 million on expanding artificial intelligence research and innovation, developing a qualified workforce pool, and enhancing thought leadership. A major contributor to Canada’s success in the AI industry was its innovative strategy. Three of Canada’s main AI institutes—Amii in Edmonton, Alberta, Mila in Montréal, Québec, and Vector Institute in Toronto, Ontario—as well as 80 CIFAR Chairs have received financing thanks to a plan created by the global research organization CIFAR. It is imperative to attract, retain, and provide long-term, devoted funding to the world’s top AI researchers in order to assist them in developing the next generation of AI leaders in Canada.
Additionally, the federal government’s Scale AI Supercluster initiative is expected to add over 16,000 jobs and boost the Canadian economy by $16 billion over the next ten years. Businesses from domestic and foreign countries are actively integrating AI across industries as part of the Canadian Supercluster. Among the Supercluster’s members are innovators, innovative technologies, competitive firms, and market-oriented firms.
The rise of Canada’s AI workforce is supported by a country’s strong value offer for talent. Four Canadian cities are among the top 20 to attract, concentrate, and pay young tech talent in North America: Toronto, Vancouver, Ottawa, and Montreal. It is in Toronto that the world’s highest concentration of AI start-ups is located, and in Montreal that the highest concentration of deep learning academic researchers is located. The cities listed above provide companies with the qualified personnel they need for the launch, development, and marketing of their AI solutions.
Rise of opportunities
COVID-19 demonstrated clearly the leadership, global research strength, and government support that support AI firms in their success and innovation. Canadian economy and healthcare systems need to be improved in response to the epidemic. It is clear from Canada’s national response to the COVID-19 outbreak that its artificial intelligence companies are a powerful resource when it comes to tackling complex issues.
A Toronto-based start-up called BlueDot was able to identify and foresee the “unusual pneumonia” outbreak that originated in Wuhan, China, in December 2019 using machine learning, artificial intelligence, and big data. As the infection progressed, BlueDot alerted the Canadian government and the commercial sector to take action as soon as possible. According to CB Insights, Korbit Technologies (Montreal), another leader in AI, has developed a personalized AI-powered learning tool. When forced to complete remote learning, students can study more effectively and efficiently using this technology.
Ai ecosystem in Canada: Global companies’ perceptions
As part of the 2020 AI study by ICTC, 20 industry professionals from multinational corporations across eight countries were surveyed regarding their opinion of Canada as a potential location for foreign investment in artificial intelligence.
Scale AI Supercluster is a popular initiative globally, as evidenced by nearly half of all interviews. Almost all of the interviewers (95%) were aware of Canada’s AI advancements. Top AI hubs in Canada, such as Montreal, Toronto, the city of Edmonton, Vancouver, and Ottawa, were known to the interviewees. These cities are distinguished by their well-established ecosystems, large pool of highly qualified workers, and educational institutions, as well as technological advancements in artificial intelligence.
Several interviewees highlighted Yoshua Bengio and Geoffrey Hinton as key individuals for increasing Canada’s AI footprint internationally. Their contributions to the Canadian AI community are both well known. Two other advantages noted by investors seeking to expand and thrive are Canada’s favorable immigration policy and skilled labor pool. Interviewees highlighted ambiguous AI laws, talent competition, and failure of scaleups as the top obstacles to investing in the Canadian AI industry.
Canada’s AI future
Canada will need to maintain its flexibility in the future to maintain its position as a market leader in artificial intelligence due to the rapidly changing nature of the technology sector and new entrants and investments. Other nations have committed to bolstering their own AI sectors despite the fact that Canada has a unique mix of public investment, private financing, and research capability.
It will be critical for Canada to build and sustain a world-class AI ecosystem in order to maintain its leadership position globally in the AI-driven world in light of its research assets, tech talent pool, and innovative enterprises. Global and local firms must work together to properly develop and use AI and considerably boost research capacity if they want to maintain their competitiveness in the global market. The opportunity for investment here is fantastic. Express Entry draw can help you obtain Canadian permanent residency if you want to start your career in artificial intelligence.