A|I: The AI Times – The benefits of Canada’s AI investment are leaving the country

Plus: How good are you at spotting AI fakes?

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CCI calls for Parliamentary Technology and Science Officer to help get AI regulation right (BETAKIT)

A new report on the artificial intelligence (AI) sector warns that while Canada is well-positioned with personnel and leading research in the area, Canadian companies face significant barriers as they scale up.

The Council of Canadian Innovators (CCI) contends that a lack of Canadian companies scaling up is leading to many of the benefits created from public investment in research and training in AI flowing to firms outside of Canada.

Waterloo’s Clearpath Robotics sold to Rockwell Automation for US$600-million plus (THE GLOBE AND MAIL)

Last week, BetaKit reported the acquisition of Waterloo-based Clearpath Robotics by U.S. firm Rockwell Automation.

Now, The Globe and Mail is reporting details on the competitive sale process, with Rockwell beating out two strategic investors with a bid north of $550-million USD.

Deep Genomics adds life sciences veteran as CEO to support its evolution into biopharma firm (BETAKIT)

Toronto-based artificial intelligence (AI) drug development startup Deep Genomics has hired Brian O’Callaghan as its next CEO, replacing company founder and CEO Brendan Frey.

O’Callaghan brings an extensive knowledge of biotechnology, pharma, and clinical research organizations to Deep Genomics while Frey will shift to chief innovation officer and remain on Deep Genomics’ board of directors.

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Google Nears Release of Gemini AI to Challenge OpenAI

Google has given a small group of companies access to an early version of its highly anticipated conversational artificial intelligence software, according to three people with direct knowledge of the matter. Giving outside developers access to the software, known as Gemini, means Google is getting close to incorporating it in its consumer services and selling it to businesses through the company’s cloud unit.

As enterprises dip their toes into generative AI, Plurilock finds gains in selling safety (BETAKIT)

A few years ago, a strong password and antivirus software were all businesses needed to stay safe online. According to Ian Paterson, CEO of Victoria-based Plurilock, that era has ended.

Plurilock, which offers zero-trust authentication products based on technologies like behavioural biometrics and data loss prevention (DLP), has scaled significantly—executing a roll-up strategy that has seen the company make four acquisitions and grow its revenue from roughly $500,000 to over $64 million in just two years.

How good are you at spotting fakes? Take The Globe’s AI vs. human quiz to find out (THE GLOBE AND MAIL)

Generative artificial intelligence has brought us the Pope in a coat and deepfake Drake, but also a potentially immense problem in separating fact from fiction. Today, anyone can create photorealistic images with Midjourney, churn out prose with ChatGPT or clone a voice in minutes.

So how good are you at spotting fakes?

How CIOs can prepare for the "tectonic change" of generative AI (BETAKIT)

Nearly every company leader in the world is thinking about the potential opportunity—and risk—of generative AI for their business and customers.

In an interview with BetaKit, Coveo CEO Louis Têtu shared takeaways from his world tour, the growth in AI-enabled experiences, and how CIOs can prepare for the “tectonic change” of generative AI.

Inovia announces $34-million CAD Discovery Fund for early-stage VCs (BETAKIT)

Montréal-based Inovia Capital has launched its first Discovery Fund, closing $34 million CAD ($25 million USD) to invest in emerging North American venture capital (VC) fund managers focused on pre-seed and seed-stage startups.

The Discovery Fund formalizes Inovia’s existing efforts to invest in emerging VC firms as many face difficulties fundraising.

Sanctuary AI’s quest to build a handy robot (THE LOGIC)

Vancouver’s Sanctuary AI recently unveiled the latest iteration of its humanoid robot, a machine equipped with human-like hands and powered by artificial intelligence to help it complete seemingly mundane tasks.

The company has attracted venture-capital and government investment as it works to make Phoenix mostly autonomous and capable of real-world jobs currently filled by humans.

Ontopical closes $3.3 million seed extension to help companies navigate the local government procurement process (BETAKIT)

Calgary-based software startup Ontopical wants to make it easier for companies across North America to discover and win government contracts.

Now armed with $3.3 million CAD in fresh funding and a new CEO in Clayton Feick, Ontopical has set its sights on layering on AI to help its private sector clients derive as much insight as possible from data on local government procurement.

Tech leaders discuss AI policy in closed-door U.S. Senate meeting

More than 20 tech and civil society leaders, including the chief executives of five of the 10 biggest U.S. companies, appeared at a closed-door Senate meeting on Wednesday to shape how artificial intelligence is regulated.

The CEOs of Alphabet Inc., Microsoft Corp., Meta Platforms Inc. and OpenAI were invited to appear alongside rivals and industry critics to discuss possible guardrails for AI that balance the risks and rewards of the technology.

Streamforge raises $1.6 million CAD to scale AI-driven influencer marketing (BETAKIT)

Artificial intelligence (AI) marketing startup Streamforge has raised $1.6 million CAD ($1.2 million USD).

Founded in 2018 by Xavier Constantin and Nick Lombardi, the Streamforge platform uses artificial intelligence (AI) to help brands and publishers identify content creators and audiences who best align with their goals.

Nvidia-Backed AI Chip Networking Startup Enfabrica Lands $125M Series B (CRUNCHBASE)

Enfabrica, which designs networking chips to handle AI workloads, closed a $125 million Series B led by Atreides Management, and included an investment from new investor Nvidia.

Mountain View, California-based Enfabrica’s chip allows for the consistent flow of data needed for modern AI workloads. The company plans to use the new cash infusion to expand its research and development capabilities and grow production.

Alex Riehl

Alex Riehl

Alex Riehl is a staff writer and newsletter curator at BetaKit with a Bachelor of Journalism from Carleton University. He's interested in tech, gaming, and sports. You can find out more about him at alexriehl.com or @RiehlAlex99 on Twitter.

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