SCALE AI announces a financing round in AI for 12 new projects
by CM Staff
The integration of AI represents a vector of growth, productivity, and competitiveness with significant benefits for the entire Canadian economy.
With an additional 12 projects representing more than $50 million in investments announced today by SCALE AI, artificial intelligence (AI) is continuing on its path of rapid adoption by Canadian industry leaders. (CNW Group/Scale AI)
MONTREAL — With an additional 12 projects representing more than $50 million in investments announced on Aug. 22 by SCALE AI, artificial intelligence (AI) is continuing on its path of rapid adoption by Canadian industry leaders. By optimizing production and transportation, AI is proving essential in efforts to address the crucial challenges our supply chains face today, including the ripple effects of the pandemic on demand, labour shortages, and environmental performance.
François-Philippe Champagne, Minister of Innovation, Science and Industry, says: “With over 50 multinational AI research centres, nearly 1,000 AI start-ups and thousands of top researchers, Canada continues to be a global leader when it comes to artificial intelligence. Thanks to our government’s investments in AI, we are making the Canadian economy more agile, competitive and resilient. The 12 projects announced today by SCALE AI demonstrate how Canadian companies are using AI to compete on a global scale.”
Pierre Fitzgibbon, Quebec Minister of Economy and Innovation and Minister Responsible for Regional Economic Development, notes: “Investments in AI allow us to support the competitiveness of several key sectors of the Quebec economy and will allow us to create more wealth for the country, contribute to addressing the labour shortage, and develop innovative solutions to important societal issues. I am proud to see Quebec continue to solidify its position as a leader in AI as a large number of projects involve Quebec-based companies, partners, or researchers.”
Julien Billot, CEO, SCALE AI, explains: “In just a few years, AI integration has gone from experimental to established processes for many applications. The projects announced demonstrate that regardless of the size of the company or the industry, integrating AI enables companies to identify new opportunities and create sustainable value, which includes increased revenue growth and improved competitiveness.”
Twelve projects representing investments of over $50 million were announced:
- Improving Save-On-Foods’ supply chain through AI-based demand forecasting
- Canard Bleu is developing a data ecosystem and a predictive solution to help businesses overcome current and future supply chain disruptions and crises.
- The DAL-IA aims to develop a solution that prevents inventory run-out in hospitals through improved consumption forecasting
- AI for exploration and development of critical raw materials
- Simplex Equipment Rental for prediction and optimization of rental assets stock and transportation
- Project Galactic to improve the app search in connecting shoppers with retailers
- Apollo.AI to optimize its transloading terminal operations
- Adastra, Taiga Building Products, Standard Building Supplies collaborating on supply chain optimization platform
- Routific Solutions improve their self-learning route optimization
- AMG Medical to improve their supply chain insights & optimization
- Help Canada Drives develop AI-powered vehicle operations suite
- Logistik Unicorp improve a ML tool for supply policies
