All about artificial intelligence
May 2016
Decision making, thinking and learning are no longer exclusive to humanity. Artificial intelligence (AI), coined in 1956 at MIT refers to the collective technologies concerned with machine learning — including reasoning, problem-solving, perception, and language-understanding. Find out more about AI in the Canadian tech landscape and beyond.
Connectivity
The potential impact of AI on the global economy is huge. The AI market expected to reach between $7.1 Trillion and $13.1 Trillion by 2025.
In comparison, the wearables market is expected to grow to $70 Billion by 2025.
The technologies with the most disruptive potential in Canada are:
- Artificial intelligence
- Advanced robotics
- Networks
- Collaborative connected platforms
- Advanced manufacturing
Globally, investment in the AI sector has grown 7x between 2010 and 2015, from $45 Million to $310 Million across 177 deals.
Productivity
A Deloitte study on the readiness of Canadian firms in the face of disruptive technologies notes "in 20 years of dramatic improvements in computer processing power (measured in floating-point operations per second, or FLOPS), machines process much more information, far faster."
Investment
It's a huge investment focus. Large financial injections in AI research include:
IBM $1 Billion
Toyota $ 1 Billion
OpenAI $1 Billion
South Korean Government $860 Million
Google $400 Million
Canadian companies are reaping the benefits of market interest. Top Canadian VC investments in AI focused startups include:
Maluuba, $9 Million Waterloo, ON
nGUVU, $3 Million Montreal, QC
Thirdshelf, $800K, Montreal, QC
Talent
The robots are coming. 45% of activities completed by individuals can be automated accounting for $2 Billion in wages in the US.
AI can now displace humans in professional practices with deep subject matter experience and education — like accounting, engineering and law.
Case in point:
An IBM university challenge gave University of Toronto students access to Watson. They developed an app called Ross that acts as a legal assistant.
For more on key trends impacting Canada's digital media economy, visit cdmn.ca/trends