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."

ABU DHABI, 24th August, 2020 (WAM) -- A UAE daily has said that the world is facing many challenges as it fights the global coronavirus pandemic, noting that full-on efforts are being made around the world to find a solution to the coronavirus. "One such method of curbing the virus is through the use of artificial intelligence, AI" said Gulf Today in an editorial on Monday, quoting Dr. Mohammad Yaqub, Assistant Professor at MBZUAI and research fellow at the University of Oxford, as highlighting the role of AI in the current fight against COVID-19 and how it can be applied to help identify future pandemics and halt their spread," The newspaper added, "The ongoing COVID-19 pandemic has highlighted the need to be prepared for high-impact disruptive events. AI and academic research are proving to be important tools in overcoming the coronavirus and future pandemic mitigation. "AI can predict future infections; facilitate healthcare solutions; accelerate research to understand and treat COVID-19, and even predict the impact of government policy decisions." During a webinar, Dr. Yaqub said that AI could make post-pandemic recovery quicker, easier and more robust.