07:14:57 EDT Fri 26 Apr 2024
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or Name
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CA



Magna International Inc
Symbol MG
Shares Issued 382,461,855
Close 2017-03-29 C$ 58.08
Market Cap C$ 22,213,384,538
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Globe says Shopify, others help push AI in Canada

2017-03-29 06:57 ET - In the News

See In the News (C-SHOP) Shopify Inc

The Globe and Mail reports in its Wednesday edition that the provinces, the feds and corporations are pumping hundreds of millions of dollars into the artificial intelligence sector in a bid to keep the country competitive. The Globe's Sean Silcoff writes that on Tuesday, Quebec committed $100-million to support Montreal's flourishing AI sector after last week's $125-million commitment by the Canadian government to fund free-standing AI research institutes in each of Montreal, Toronto and Edmonton as part of a Canadawide strategy. The goal is: to keep AI talent in Canada; to attract the world's best researchers; to train legions of AI practitioners to fill a chronic shortage; to foster commercialization of AI-driven start-ups; and to work with corporate Canada to improve operations by using AI. One of those is Toronto's Vector Institute, which is affiliated with University of Toronto machine-learning expert Geoffrey Hinton. Vector will receive about $40-million from Ottawa, $50-million from Ontario and $80-million from 31 corporate donors, including Shopify, the Big Five banks, Loblaw, Magna, Thomson Reuters and Air Canada. Google is also providing $5-million and opening a research lab in Toronto.

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