YPO

The potential value added of artificial intelligence (AI) to businesses is undisputed, yet research confirms that most companies still struggle to capitalize on the technology. In a recent panel hosted by YPO member and Managing Director of Techstars Vijay Tirathrai and Jean-Philippe Linteau, Consul General of Canada in Dubai and the Northern Emirates, industry leaders from Canada and the Middle East shared insights on how organizations can leverage AI while mitigating risks. According to the International Data Corporation's latest release, worldwide revenues for the AI market are forecast to grow 16.4% year-over-year, reaching USD554.3 billion by 2024. Along with the U.S. and China, Canada is positioned to gain the most from this growth. "Canada has a thriving AI ecosystem, with world-leading research centers that have evolved into major hubs of AI, including Canada's supercluster project in Montreal, Scale AI," says Linteau. "Canada is now home to more than 800 AI companies, including more than 45 global tech multinationals, more than 60 investment groups, and 40-plus accelerators and incubators that focus on AI."