Artificial Intelligence is one of the fast-growing segments in the globe today. In recent times AI and machine learning are increasingly becoming part of operations in various industries. This latest technological advancement is making in-roads in various sectors and industries. AI has a huge potential and it has managed to transform businesses and enhance operations and efficiency.
AI transforming the online food delivery sector
Owing to its application in various sectors AI and machine learning have been vital in advancements that have occurred in the food industry. The technology appears to be universal in the online food delivery market. The cognitive abilities of the tech are revolutionizing the online food delivery industry on how people are using online apps to make orders.
Most companies in the online food delivery industry are leveraging the tech by creating apps that use AI and machine learning. The apps use the AI algorithms to tailor messages to customers as well as the offers the companies are giving. The combination of big data machine learning and AI is transforming various sectors including the food and beverage industry. The companies using IA can plan delivery routes, predict trends and demand as well as enhance customer relations through chatbots.
Companies fundraising to advance AI capabilities
The other industry AI is disrupting is the commercial real estate sector. AI is expanding in the industry and recently AI platform Reonomy announced that it had raised around $60 million in Series D funding. Reonomy uses AI and machine learning to provide access to users about property details and analysis.
The platform can help developers to get zoned lots. It can as well help developers know the rights they have of building luxury condos in an area. Brokers can as well through the platform find deals for clients and also motivated buyers and sellers.
In Canada among the companies leading in AI include Shopify (NYSE: SHOP), Amazon (NASDAQ: AMZN) and Hootsuite. Clir Renewable is leveraging the services of an ex Hootsuite engineer to advance its capabilities in the wind industry. The company has appointed Louisa Thue to lead its cloud-based Ai capabilities in the wind energy sector.
The Vancouver based company offers digital asset performance tech in the sector. Its AI platform offers asset owners and managers tools to help them maximize energy production. The company recently raised C$7.1 million through Arctern ventures to help it develop its AI platform as well as optimize power production.
Quebec to walk back on experience program
Getting the best young talents is a challenge that Canada has been grappling with. However, in an expected move the Premier of Quebec Francois Legault has indicated that he is ready to walk back reforms that critics could affect recruitment of talent in the growing AI industry in Montreal. The premier is proposing changes to the Quebec experience program which will affect recruitment efforts in the AI industry.
The program offers foreign students who graduate from Quebec institutions support in fast-tracking their permanent residency. The government has cut many specialties and programs that graduates qualify for the program.