This study examines Canada’s opportunities for leveraging its current strengths in artificial intelligence (AI) to attract high-quality foreign direct investment (FDI).
Betting on Red and White: International Investment in Canadian AI also assesses recent domestic and international AI developments, and discusses:
- AI applications across sectors
- Summary of Canadian AI research and commercialization
- Opportunities and barriers to continued AI expansion
This study extracts insights from industry leaders in over eight countries and seven sector verticals. It builds on ICTC’s 2019 report, On the Edge of Tomorrow: Canada’s AI Augmented Workforce.
Excerpt: Study Findings
Canada is internationally recognized for academic research into AI. The rapid growth in AI research has recently spurred numerous AI startups across the country.
Currently, Canada has more than 650 AI startups, 40 accelerators and incubators, and over 60 research labs. Nearly 30% of Canadian startups were launched in 2017/18. International investment followed, with global giants such as Uber, Google, Facebook, and Samsung establishing AI research centres and operations in Canadian cities.
- In 2019, Canada ranked among the top five countries for innovative AI-based research
- Canada is becoming an international hub for AI startups, alongside US, Japan, and the UK
- Regionally, Toronto, Montreal, Edmonton dominate AI research and startups, with Vancouver, Waterloo, and Quebec City also attracting attention