Decades in the making, Canadian research in fields such as neural networking and machine learning is now coming into its own, as centres like the Montreal Institute for Learning Algorithms and Toronto's Vector Institute for Artificial Intelligence are propelling vibrant ecosystems and startup communities, while government is doing its part through immigration policies geared towards attracting new talent and programs like the Pan-Canadian Artificial Intelligence Strategy, which will devote $125 million in federal dollars to AI research over the next five years. We've seen significant investment from venture capital, too, with the current boom in VC funding for Canadian tech companies having a lot to do with movements in the AI space. And as more and more companies start to incorporate AI technologies, the field keeps growing. But where are the AI investment winners, you ask? Here are five stocks that analysts say have significant upsides.
Universal mCloud is creating a more efficient future with the use of AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud's AI-powered AssetCare platform, mCloud offers complete asset management solutions to three distinct segments: smart facilities, power generation, and process industries including oil and gas. IoT sensors bring data from connected assets into the cloud, where AI and analytics are applied to maximize their performance. Headquartered in Vancouver, Canada with offices in locations worldwide including Calgary, San Francisco, and Beijing, the mCloud family includes an ecosystem of operating subsidiaries that deliver high-performance IoT, AI, 3D, and mobile capabilities to customers, all integrated into AssetCare. With over 100 blue-chip customers and more than 35,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed.
To keep track of how much clean energy is produced, governments around the world have created systems based on tradable certificates. Problem is, the way we manage these certificates "sucks," and it's holding up investment in renewable power, says Jesse Morris, an energy expert at the Rocky Mountain Institute. A new system based on blockchain, the technology at the heart of Bitcoin and other digital currencies, could fix this, he says. Keeping track of renewable-energy certificates is one of dozens of potential applications of blockchain technology that could solve data management challenges in the electricity sector without disrupting business as usual, according to Morris. He and many others believe that in the long term, the technology could help transform the very architecture of the grid itself.
The AI Times is a weekly newsletter covering the biggest AI, machine learning, big data, and automation news from around the globe. If you want to read A I before anyone else, make sure to subscribe using the form at the bottom of this page. Toronto-based Daisy Intelligence, which has created an AI-powered platform for retail and insurance, has raised $10 million in Series A financing. "Microsoft and Eros are partnering to take Bollywood's $5B movie industry global by developing a new platform, creating new offerings, and delivering personalized content – all using Azure." You don't see a startup get a $50 million seed round all that often, but such was the case with Vianai, an early-stage startup launched by Vishal Sikka, former Infosys managing director and SAP executive.
A winning lotto ticket in Canada will likely not be paid out because it was bought with a stolen credit card. The woman who allegedly bought the ticket was arrested by police while on her way to the lottery offices. Police were following up on a report of a stolen wallet and discovered the victim's credit cards had been used to buy lottery tickets. The suspect was identified with security footage from the Newfoundland store where the tickets were bought. The 33-year-old suspect, who was taken into custody on Thursday by officers from the Royal Newfoundland Constabulary, was charged with two counts of possessing a stolen credit card and five counts of fraud.