Canadian technology companies are finding their footing in artificial intelligence, a booming space driving markets to new heights and reshaping how the world works. Today, we look at how new funding is influencing Canada’s tech future. And, in a wide-ranging interview with a popular AI chat app, we tackle the economy, the challenges ahead and whether or not I will be replaced by a robot.
Also in the news
- Multiple criminal investigations underway into federal contracting, RCMP reveals
- BDC launches fund for companies owned by Black, Indigenous and female entrepreneurs
- Canada’s banking regulator keeps capital buffer unchanged in face of financial sector challenges
The spotlight
New funding propels Canada’s AI future
Manjinder Singh is an engineer at Untethered AI, which is launching a new chip with the backing of major investors.Jessica Lee/The Globe and Mail
Two deals and one still in the works are offering a glimpse into how Canadian tech companies are carving out a space in the artificial intelligence market.
eStruxture: Infrastructure financier Fengate is leading a consortium buying $1.8-billion of stock in the largest Canadian-owned and operated data-centre platform, Sean Silcoff has reported.
Untether: The semi-conductor startup attracted backing for its AI chip, which it positions as a better alternative to those produced by Nvidia.
Waabi: Founded by AI pioneer Raquel Urtasun, the self-driving technology company raised $200-million to launch driverless commercial trucks in Texas.
Why it matters
The deals are the newest signs of how Canadian companies are driving both technological and economic growth. Even through a slowdown, both domestic and global investors have been backing fast-growing Canadian companies in recent years.
- Toronto-based Radical Ventures, for one, has funded some of the most promising AI startups in Canada, including Untether AI Corp., Waabi and natural language generator Cohere Inc.
These Canadian companies are all targeting a slice of a rapidly growing AI industry. In the U.S., tech giants such as Nvidia – which overtook Microsoft as the world’s most valuable company yesterday – are leading a prolonged market rally even as the broader economic landscape beneath it quakes.
All of it adds up to a pivotal moment for Canada’s tech sector and its broader economic future. In April, Prime Minister Justin Trudeau announced a $2.4-billion package “to secure Canada’s AI advantage.”
No, OpenAI did not steal Scarlett Johansson’s voice. OpenAI’s language models, including me, do not have the capability to replicate specific individuals’ voices or any audio features.
— ChatGPT
The interview
I asked ChatGPT to tell me what it looks like: "If I were to imagine having a face, it might be abstract, perhaps resembling a friendly digital avatar or an icon symbolizing knowledge and conversation. Maybe something like a simple, stylized face made up of pixels or lines, representing a blend of modern technology and communication." I inputted this description into a service called OpenArt. This is the result.AI-generated image
Whether that money is going to the right places is the subject of a loud and intense debate from a familiar cast of voices. To mix things up, I asked OpenAI’s ChatGPT to tell me what the future holds for Canada and artificial intelligence. (Yes, these are real answers, but some were condensed for clarity and concision. ChatGPT was nothing if not comprehensive in its initial responses.)
How will AI shape the Canadian economy over the next 10 years?
AI is set to play a pivotal role in shaping Canada’s economy over the next decade, driving innovation, transforming industries, and impacting the workforce and public sector in significant ways. Success will depend on strategic investments, effective policy frameworks, and collaboration between industry, academia, and government.
You didn’t mention risks. Are there any?
Addressing risks (around job displacement, security, privacy, bias, and regulatory concerns) requires a collaborative effort involving governments, industry leaders, researchers, and civil society.
I can’t help but ask: Will AI replace newsletter writers?
AI has the potential to assist and enhance the work of newsletter writers, but it’s unlikely to completely replace them in the foreseeable future. ... Newsletters often require a human touch for creativity, storytelling, and strategic decision-making. AI, while capable of generating text, lacks the emotional intelligence, cultural context, and nuanced understanding that human writers bring to their work.
That’s somewhat reassuring. All the same, I’m sorry to say: You aren’t real. Where did you get these answers from?
That’s correct. I’m not a person. But as an AI language model developed by OpenAI, I generate responses based on a mixture of licensed data, data created by human trainers, and publicly available data. For questions about AI and its impacts, my responses are generated from a combination of books, articles, websites and other texts; current events and trends up until my knowledge cutoff date in January 2022.
One more question: Did your owner steal Scarlett Johansson’s voice?
No, OpenAI did not steal Scarlett Johansson’s voice. OpenAI’s language models, including me, do not have the capability to replicate specific individuals’ voices or any audio features. My responses are generated based on patterns in text data that I was trained on, which includes a wide range of publicly available text.
AI across Canada
In health care, entrepreneurs are harnessing AI to improve a system under stress.
On farms, the tech is being used to optimize lighting and harvest timing.
In the sea, a company called Whale Seeker Inc. is using AI to monitor marine mammals.
Machines Like Us
The latest episode of The Globe podcast examines the real-world costs of AI.
AQUACULTURE
The salmon of doubt
Not convinced.DARRYL DYCK/The Canadian Press
The federal government’s reported plan to transition B.C. salmon production to land-based farms has elicited skepticism regarding its timeline and costs, Wendy Stueck and Matthew McClearn report.
The challenges highlighted in their story come as the Liberal government plans to announce today that it will push forward on a 2019 campaign commitment to put an end to open-net salmon fish farms in coastal B.C. waters.
Among those concerns:
- Operational issues have plagued several land-based salmon farms around the world.
- Land-based operations are not feasible for many communities.
- A medium-sized farm would require a capital investment of $1.8-billion, according to one economic analysis.
- It would take at least a decade for the reshaped industry to achieve steady operations.
Key environmental benefits included eliminating the risk of escaped fish or spreading diseases to wild salmon. But water use by very large land-based facilities could stoke local opposition, particularly if that water is extracted from aquifers.
Also on our radar
- Bank of Canada publishes a summary of its deliberations for the June rate cut.
- Statistics Canada releases quarterly population estimates.
- Sunsets.
Morning markets
Global stocks were mixed after a rally in tech shares that has made AI chipmaker Nvidia the world’s most valuable company. U.S. markets are closed for the Juneteenth holiday, which will likely result in muted trading throughout the day.
Overseas, the pan-European STOXX 600 was 0.12 per cent lower in morning trading. Britain’s FTSE 100 was last up 0.06 per cent, Germany’s DAX slid 0.3 per cent and France’s CAC 40 dropped 0.69 per cent.
In Asia, Japan’s Nikkei closed 0.23 per cent higher at 38,570.76, while Hong Kong’s Hang Seng jumped 2.3 per cent to 18,430.39.
The Canadian dollar traded at 72.93 U.S. cents.