17:02:40 EDT Mon 09 Mar 2026
Enter Symbol
or Name
USA
CA



Shopify Inc
Symbol SHOP
Shares Issued 1,225,909,940
Close 2026-03-06 C$ 176.78
Market Cap C$ 216,716,359,193
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Globe says CIBC, others rapidly adopting AI tech

2026-03-09 07:04 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The Globe and Mail reports in its Saturday edition that Lightspeed Commerce has cut its customer support team, while Shopify has increased revenue without new hires in two years. The Globe's Vanmala Subramaniam writes that meanwhile, CIBC achieved its automation goal, saving one million work hours a year early. Canadian companies are rapidly adopting artificial intelligence technologies, presenting these changes as wins in AI implementation. For white-collar workers, the rapid advancement of AI tools is raising concerns about job losses in roles once thought secure. Anecdotal reports are beginning to surface during earnings calls. The Globe reviewed thousands of calls from Toronto Stock Exchange-listed companies for discussions on AI and hiring. At least a dozen have noted employee reductions, hiring freezes or potential downsizing due to AI. Many companies are actively discussing technology, with analysts on investor calls eager to learn about AI usage. Executives typically avoid discussing staffing levels, instead highlighting how AI will enhance productivity and restructure workflows. Some companies have openly acknowledged their successes, saying AI can replace human jobs, a process that has already begun.

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