A|I: The AI Times – Xanadu’s quantum computer

Plus: Five Canadian startups crack CB Insights’ 2022 AI 100 list

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Forma.ai raises $57.8 million CAD in Series B round for sales compensation platform (BETAKIT)

Forma.ai is a sales compensation platform provider that combines human controls with artificial intelligence (AI) to “turn sales compensation into science.” The platform aims to help organizations to design, execute, and optimize their sales compensation strategy through data.

Toronto’s Xanadu raising US$100-million led by Georgian to develop quantum computers (THE GLOBE AND MAIL)

The funding, confirmed by three sources familiar with the deal, is being made a year after U.S. venture capital giant Bessemer Venture Partners agreed to lead an earlier US$100-million financing of Xanadu, which was also backed by Canadian billionaire Jeff Skoll’s Capricorn Investment Group, U.S. investment giant Tiger Global and past investors, including Toronto-based Georgian, OMERS Ventures, U.S. venture capitalist Tim Draper, BDC Capital and In-Q-Tel, the U.S. Central Intelligence Agency’s venture arm.

Five Canadian startups crack CB Insights’ 2022 AI 100 list (BETAKIT)

CB Insights’ 2022 roster includes Cohere, TrojAI, Untether AI, Waabi, and Private AI. All five of the Canadian startups named this year are joining as new additions to the list. Four out of five of them are from Toronto, with TrojAI being the sole company outside of the Ontario city with its headquarters in Saint John, New Brunswick.

Evisort embeds AI into contract management software, raises $100M (VENTUREBEAT)

An increasingly integral part of the business is the use of AI-powered automation. To that end, today contract management vendor Evisort announced that it raised $100 million in a series C round of funding, bringing total funding to date up to $155.6 million.

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Fobi AI inks deal to acquire Basket and bolster coupon aggregator offering (BETAKIT)

“Our combined AI & Big Data capabilities will now enable a new era of personalized marketing at scale,” said Fobi CEO Rob Anson. Basket is a digital platform that price checks shopping items between stores. With its technology, users are enabled to compare prices to find the best deals and promotions.

As AI and robotics advance, are we ready for a post-work world? (TORONTO STAR)

It’s expected AI and robots will take over many types of occupations over the next few decades, which could mean the loss of hundreds of millions of jobs around the world. That possibility begs the question: Are we prepared for a post-work world?

Vector Institute awards nearly $2 million in scholarships for Ontario AI students (BETAKIT)

Valued at $17,500, the Vector Scholarship in Artificial Intelligence (VSAI) is a merit-based award that recognizes top candidates pursuing either one of the over 20 Vector-recognized master’s programs, or individual AI study paths in Ontario.

Glean aims to help employees surface info across sprawling enterprise systems (TECHCRUNCH)

The emergence in recent years of AI algorithms that can parse natural language has fueled the rise of platforms that can shrink that chunk. At least, that’s the assertion of Arvind Jain, a former Google engineer and Rubrik co-founder, whose startup, Glean, employs AI to power a unified search experience across all apps used at a company.

Apple Executive Who Left Over Return-to-Office Policy Joins Google AI Unit (BNN BLOOMBERG)

Ian Goodfellow, who oversaw machine learning and artificial intelligence at Apple, left the iPhone maker in recent weeks, citing the lack of flexibility in its work policies. The company had been planning to require corporate employees to work from the office on Mondays, Tuesdays and Thursdays, starting this month. That deadline was put on hold Tuesday, though.

Applications close May 31 for Amii’s AI program for women and gender-diverse people (BETAKIT)

Delivered across nine weekly online sessions from June to August with some additional in-person events, the Kickstart Program aims to guide women and gender-diverse individuals as they pursue careers in artificial intelligence (AI).

Gatik to expand autonomous truck operations to Kansas (FREIGHTWAVES)

“We are excited to bring our autonomous fleet to the state of Kansas and ensure that the advantages of autonomous delivery on the middle mile can be realized by Kansans in the near term,” said Richard Steiner, head of policy for Gatik. 

Michael Edgar

Michael Edgar

Michael is a multimedia journalist working out of the U.K. and a staff writer for BetaKit.

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