July 22, 2020
Investments of $29 million: Scale AI advances the transition to AI with five new projects
Montreal, Quebec - July 21, 2020 After more than $120 million invested during its first year, Scale AI continues its work in leveraging AI (artificial intelligence), and announces investments of an additional $29 million in five new projects, including the participating companies' contributions. This represents more than $9 million directly committed by Scale AI to supporting the implementation of AI, through the collaboration of established Canadian companies. Each example illustrates how AI can bring productivity gains and growth in all sectors, from forecasting demand to reducing waste or improving productivity, including deployment of an intelligent supply chain in minerals and metals, a project that stands out from Optel Group, with a total investment of $16.6 million. The Honourable Navdeep Bains, Canadian Minister of Innovation, Science and Industry, stated, “Innovative new Scale AI projects are bringing together partners across industries ranging from metallurgy to retail, including twenty small and medium-sized enterprises. The new partnerships are a testament to the supercluster's convening power. These collaborations are sustaining Scale AI's momentum, driving innovation and contributing to Canada's leadership and growth in the emerging field of artificial intelligence.” “These collaborations are sustaining Scale AI's momentum, driving innovation and contributing to Canada's leadership and growth in the emerging field of artificial intelligence.” — The Honourable Navdeep Bains, Canadian Minister of Innovation, Science and Industry Highlighting the initiative and leadership of Quebec companies, Pierre Fitzgibbon, Minister of Economy and Innovation of Quebec, said, “Artificial intelligence will fundamentally transform industrial processes and the global economy in the coming years. The related technologies can be applied in a multitude of fields and will have major repercussions. Fostering growth means enabling companies to take advantage of new technologies and become more competitive in foreign markets.” The Quebec government has provided financial assistance totaling $83.4 million to support the activities of Scale AI until 2023. Julien Billot, CEO of Scale AI, noted, “Things are moving fast. Now we see the first concrete results and how the success of the early adopters has inspired new projects on an increasingly large scale. Our team is enthusiastic about the diversity of the projects in which we have invested—big and small, and coming from all sectors. The five projects announced today, representing total investments of $29 million, illustrate this trend and the accelerated pace of growth we are experiencing in all our programs.” “Artificial intelligence will fundamentally transform industrial processes and the global economy in the coming years.” — Pierre Fitzgibbon, Minister of Economy and Innovation of Quebec Hélène Desmarais, Co-Chair of the Scale AI Board of Directors, added, “Scale AI's mission is to create the conditions for a sustainable AI ecosystem in Canada. We are very happy with the results. With more than $120 million in investments announced since the launch of our co-investment programs, we see that the leveraged effects are even greater than anticipated, as companies commit beyond our expectations.” Five projects representing investments of $29 Million With artificial intelligence still in its early stages of development, the projects supported by Scale AI show the added value of collaborative partnerships in developing practical and relevant solutions. Altogether, over 30 key partners have taken part in the rollout of these projects, including the participating companies, consultancies, research centres and business partners (customers and suppliers). Here is an overview of the supported projects: Smart supply chain for the minerals and metals sector Partners: Groupe Optel, Aluminium Association of Canada, Laserax, Lithion Recycling, Université Laval, SmartyfAI See more Port Logistics Optimization Tool Partners: Montreal Port Authority, Montreal Gateway Terminals Partnership, Canscan, EI Systems, Termont See more Demand forecasting and real-time monitoring in retail businesses Partners: FIND A.I, Pr Chi-Guhn Lee, Pacific West Commercial Corporation, Boathouse Apparel, Cook Culture Ltd, Bella Group, Plenty Apparel, Purdy's See more An AI-based prediction platform for driving supply chain efficiencies Partners: Fleet Complete, Pitstop, Sensata, NPL Canada, Superior Propane See more Intelligent forecasting for a more reliable supply chain Partners: Distribution Pharmaplus, Groupe Horizon Santé, Pharmacie SM, CS et AP Inc, Sodan Conseillers TI, Thales Digital Solutions See more See press release https://www.scaleai.ca/investments-of-29-million-scale-ai-advances-the-transition-to-ai-with-five-new-projects/
