All Canadians will now have a better future with the integration of Artificial Intelligence (AI) technologies. New good jobs and latest sources of economic development will be created to make Canadian markets more inclusive, competitive, and sustainable. Greater Montréal’s six highly advanced companies are being supported by Government of Canada.
Yesterday, Minister of Innovation, Science and Economic Development, and Minister accountable for Quebec Regions’ Economic Development in Canada, the worthy Navdeep Bains, introduced funding of about $6.3 million. This is for backing six AI companies in their work to grow and spread into the latest marketplaces.
Out of this, amount of repayable $5 million will be given to Element AI Inc., which is a titan AI-firm across the globe and supplies software products to assist companies get safer, stronger and more active. This economic support will allow Element AI to keep on integrating its overseas operations, grow its share in trade shows, buy computer devices, and employ artificial intelligence experts. It is predicted that this will develop about 900 new jobs.
“This investment from the Quebec Economic Development Program demonstrates yet again Canada’s commendable leadership in AI, which has permitted Canadian companies like Element AI to shine. This investment will help accelerate the company’s global expansion, create jobs, and expand our innovation infrastructure.” Senior Vice President of Operations and Co-founder of Element AI, Anne Martel, claimed.
Furthermore, about $1.3 million is allocated for backing the nonstop growth of five more advanced Artificial Intelligence (AI) firms in the Greater Montreal area: Imagia, ARA Robotic Inc., Keatext Inc., C2RO Cloud Robotics Inc., and Roof Ai. Overall, it is likely that this funding will create around 77 new jobs.
Vice President of Corporate and Public Affairs at Imagia, Shelley Epstein, says:
“With the support of CED, we are fortunate to be moving into the AI city of Montréal. This will continue to foster our relationships with AI institutes, such as Mila and IVADO, and strengthen a healthcare AI ecosystem that includes other key institutes like Vector & AMII. The support provided will accelerate innovative discoveries for pharmaceutical, medical devices and diagnostic companies to make personalized medicine accessible for all patients.”
The Government of Canada is dedicated to back high growth-potential firms in Canada. This is to help them advance, grow their production and effectiveness, and to enter into latest marketplaces, and thus leading to job creation, financial development of the states, and better infrastructure for Canadians.
“Artificial intelligence is transforming all industries and sectors, opening up more opportunities for Canadians. It’s exciting to see the vitality and creativity of these six Greater Montréal companies that, each in its own way, are helping to strengthen Canada’s role as a global leader in innovation and creating highly specialized jobs that play an essential role in the growth of Canada’s digital economy.” Navdeep Bains said.