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Investments in artificial intelligence has reached a record level

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25 July, 2017 09:45

Investments in artificial intelligence has reached 162 million dollars ($M) on 12 transactions in the first half of the year. «Never been seen in five years in Canada «, according to the MoneyTree report from PwC Canada , and CB Insights.

Decrease in the overall number of transactions

However, investments in companies financed by venture capital have declined for the same period. In effect, the funding amounted to sales of$ 885 Million, while it was 1 027 G$ for the same period in 2016, representing a decrease of 14 %, and the number of transactions is increased from 170 in 2016 127 2017.

The report also noted a number of transactions and their value down in Toronto, where investments of$ 107 Million on 24 transaction. In Montreal, the number of transactions has also dropped, but their value amounted to$ 189 Million, an increase of 145 %. By contrast, Vancouver has recorded 3 additional transactions than the same period last year, but whose value declined by 29 %.

«Investment in artificial intelligence shape the future of Canada»

«The increased investment of companies in the field of artificial intelligence is shaping the future of Canada as a leader in this sector,» says Chris Dulny, a leading national technology sector at PwC Canada. Canadian companies attract greater investment of the main companies specialized in the venture capital and whose interest in the national talent in technology is ever increasing. The funding landscape, including companies and the state, makes Canada a destination of choice for international investors who are committed to the technology sector reaches its full potential. «

«Clearly, the technology sector attracts attention, as many of the institutional investors of large companies. For the latter, it is a way to ensure their future that will inevitably be transformed by this sector is in turmoil in order to remain competitive and efficient, » adds Christine Pouliot, partner in transactions for PwC Canada.

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