Quite few can downplay the fact that Canada is fast rising as a business hub with major innovations taking the center-stage. The AI sector is becoming one of the most lucrative sectors in the country. The AI technology entails the ability of a machine or a computer program to either learn or think or even both.
An outlook at AI
Canada is one of the countries around the globe that channel large chunks of capital into the AI segment every year. It has been filing one AI patent after the other. Reports indicate that Canada and the US were on top in 2014-2018. This is in terms of the countries with the largest number of filings.
Mergers and acquisitions have been taking place from time to time, helping in the generation of top quality products in the country.
Reports indicate that the AI industry has been creating many job opportunities for people in the country. This has been in high-tech businesses, the healthcare sector, and public administration.
The Canadian government has been a major supporter of the sector, giving incentives from time to time. The technology continues to be adopted in wide-ranging sectors, including the service industries and manufacturing segments.
Intrinsyc’s progress in AI
Intrinsyc recently made an announcement disclosing that it had received massive new orders estimated to be worth $797,000.This business has been at the frontline when it comes to the delivery of Internet of Things (“IoT”) products.
Clients ordered for IoT product development services, Open-Q embedded computing modules, and other products. This business leader has been focusing on the development of comprehensive AI services. Its success has been immense, considering that it has already handled over 1,400 projects.
AI is doing incredibly well in the telecommunications segments of Canada, according to reports. If all moves according to plan, outstanding revenue growth is expected in 2019-2027.
The competitive landscape of the AI market in the country is helping product consumers access more affordable products. On the other hand, competitors continue implementing working strategies in areas such as marketing, pricing, and distribution.
The autonomous systems and the education sector are the other areas that are getting to reap from the changes brought about by AI technology.
Market experts say that AI is one of the leading areas when it comes to the potential it portends in line with job growth.
Thoughts from leaders
The CEO of Actua Canada, who also happens to be its president Jennifer Flanagan has spoken about AI. This official says it is an important area considering that high-tech jobs are fated to be important soon. Flanagan has been observing how many industries globally have been embracing automation.
Actua Canada is doing a great job offering important programs to the youth. These are programs in technology, science, mathematics (STEM), and engineering.
The DataRobot CEO Jeremy Achin acknowledges that indeed AI is infiltrating all industries globally. He sees the new way of doing things like a progressive move that is going to help in speeding up tasks and business operations.
NVIDIA Corporation (NASDAQ:NVDA) and Tesla Inc (NASDAQ:TSLA) are pioneers in AI. Another business giant with significant potential is Advanced Micro Devices, Inc (NASDAQ:AMD).