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The Government of Canada is investing $66 million in 44 companies through the AI Compute Access Fund to improve access to computing power. This funding will help businesses across various sectors, such as health care and agriculture, develop AI products, create jobs, and enhance competition globally.
A new IBM study warns that AI adoption in Canada outpaces the necessary oversight and governance. It highlights concerns over accountability and control, with 63% of executives noting that governance gaps hinder AI deployment, costing businesses an estimated $144 million annually.
TELUS and Powerfleet launched the Vision 360 technology to enhance vehicle safety in Canada, addressing new federal mandates for school buses. This AI-driven system provides drivers with a complete, real-time view around their vehicles, helping to identify potential hazards and reduce collision risks.
Moment Energy raised over $40 million in Series B funding to enhance its energy storage solutions. This investment positions the company to advance energy storage infrastructure powered by artificial intelligence.
Sanofi announced a major expansion of its global AI Centre of Excellence in Toronto, deepening Canada's role in applied biopharma AI. The project is expected to add AI, machine-learning, and data-science jobs while using AI to accelerate medicine and vaccine development.