Canada's AI Aspirations Require Swift Action and Innovation, Experts Advise

At a recent event by the Empire Club of Canada, industry leaders emphasized the urgency for Canadian organizations to progress rapidly in the realm of artificial intelligence (AI). They discussed the implications for the nation's economic prosperity should it fail to keep pace with global advancements in AI.

The luncheon, which was initiated by Sal Rabbani, Chair of the Empire Club, addressed the multifaceted nature of AI, including its potential economic impact and the significance of government investment and adoption strategies.

Addressing Productivity Challenges Through AI

The opening remarks were provided by Angus Lockhart of the Dais think tank at Toronto Metropolitan University, who underscored the decades-long struggle of declining productivity growth in Canada. AI is seen as a potential solution to improve labor shortages and increase productivity, thus enhancing Canada's global competitiveness.

Panel Discusses AI Opportunities and Barriers

A panel moderated by Jordan Jacobs, a figurehead in the AI investment sector, included experts from AI-focused organizations like Cohere, Untether AI, Signal 1, and the Vector Institute. They discussed AI's transformative potential across various industries such as healthcare and technology.

Martin Kon from Cohere likened the upcoming AI revolution to the impact of the internet in the mid-90s, emphasizing that companies must embrace and innovate with AI to survive and thrive. Mara Lederman from Signal 1 highlighted AI's vast potential in healthcare and the urgent need to adopt AI to address healthcare delivery challenges.

Chris Walker from Untether AI discussed the centrality of silicon technology in AI application and deployment, which could benefit various sectors from agriculture to small businesses. He also touched on the novel use of AI in creating opportunities that were previously only accessible to larger companies.

Conversely, Tony Gaffney from the Vector Institute highlighted the strategic importance of securing an adequate supply of compute resources for the country's AI infrastructure and workforce. Stressing the risks of a lagging compute supply, Gaffney warned of talent and investment exodus.

The conversation underscored the realization that AI is not just a technological marvel but a necessary tool for Canada's future growth and resilience. With global competitors moving swiftly, Canada's choice to invest and innovate in AI could make all the difference.

Canada, AI, Innovation