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Shopify Inc
Symbol SHOP
Shares Issued 1,220,477,577
Close 2025-08-12 C$ 205.80
Market Cap C$ 251,174,285,347
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Globe says Shopify inspires BenchSci CEO to fire people

2025-08-13 08:11 ET - In the News

The Globe and Mail reports in its Wednesday edition that BenchSci Analytics became one of Canada's most promising start-ups by using artificial intelligence to help pharmaceutical giants cut time and costs from the drug discovery process. The Globe's Sean Silcoff and Joe Castaldo write that now the Toronto company is turning to AI to slash its own costs. Since May, BenchSci has cut 23 per cent of staff -- about 83 jobs -- as it goes all-in on adopting generative AI to do work formerly done by humans. Chief executive officer Liran Belenzon signalled BenchSci's commitment to generative AI in a July blog post. "As I often remind my team, those who fail to embrace AI risk being left behind – not by the technology itself but by peers who have mastered it," he wrote. The company this year "shifted to become an AI-first company, which has become our guiding principle. Before adding new people or processes, we ask: 'Could AI do this?'" Mr. Belenzon told The Globe his generative AI push was inspired by Shopify CEO Tobi Lütke, who told his employees in a memo in April that using AI effectively "is now a fundamental expectation of everyone at Shopify." Mr. Belenzon said the staff cut is not related to any business challenges.

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