Decoder.ca

Canadian Tech in 100 Words

 

Pollin Fertility Secures $20M Funding, Revolutionizing Canadian Reproductive Healthcare

by

In a significant development for Canadian fertility care, Pollin Fertility, a cutting-edge fertility clinic and technology firm, revealed a substantial $20 million Series A funding round.

The funding, spearheaded by Osmington, owned by David Thomson, marks one of the largest investments in a Canadian fertility company to date. The infusion positions Pollin as a major player in the reproductive healthcare arena.

Led by esteemed fertility physician Dr. Kim Garbedian, Pollin’s expansive 25,000 sq. foot clinic in Toronto is set to open its doors to patients on October 16, promising state-of-the-art facilities and groundbreaking advancements in fertility treatment.

Want to know more? Check out the source code on Newswire.ca.

Canadian Organizations Lag in Tech Adoption, Posing Competitiveness Risk

by

Canadian businesses are reporting gains from their digital transformation endeavors but continue to trail behind global counterparts in technology adoption, presenting potential risks to their competitiveness and profitability.

The KPMG Global Tech Report 2023 reveals that Canadian organizations prioritize technologies like AI and ML to catch up but grapple with limited resources. Economic challenges amplify the struggle, with 76% facing pressure to achieve more with reduced budgets.

Stakeholder value remains a focus, requiring intentional and strategic technology investments aligned with specific business goals. Utilizing XaaS solutions and embracing generative AI are identified cost-saving and growth strategies.

Want to know more? Check out the source code on Newswire.ca.

Canada Launches Pioneering AI Code of Conduct

by

In a monumental move, Minister François-Philippe Champagne has unveiled Canada’s Voluntary Code of Conduct for Advanced Generative AI Systems.

Effective immediately, the code sets guidelines for responsible development and management of AI technologies. Organizations are urged to integrate these measures into their AI operations.

This initiative complements Canada’s ongoing efforts to ensure responsible AI progression, notably the proposed Artificial Intelligence and Data Act (AIDA) within Bill C-27 since June 2022.

Acting as a pivotal interim solution, this code signifies Canada’s commitment to AI safety and ethics.

Want to know more? Check out the source code on Newswire.ca. Image: The Logic.

Faire and Shopify Join Forces to Boost Global Retail Commerce

by

Faire, a prominent B2B retail marketplace, and Shopify have announced a substantial global partnership.

Faire is now endorsed as the recommended wholesale marketplace for Shopify, a giant empowering countless global merchants. This alliance is set to bolster Shopify’s B2B capabilities and drive growth for both companies’ clientele, mainly brands and independent retailers.

Notably, Shopify will become a Faire shareholder, highlighting their commitment to this enduring partnership.

The move intends to diminish barriers to B2B selling and enhance connections within customer communities, fostering substantial opportunities for small business expansion.

Want to know more? Check out the source code on Businesswire.com.

AI Adoption Lags Amidst Economic Jitters, Dye & Durham Report Shows

by

More than half of Canadians foresee an impending recession, with a third already perceiving economic downturn, reports Dye & Durham. Martha Vallance, COO, pointed to squeezed purchasing power due to high interest rates, affecting housing, retail, and legal services.

Amid economic uncertainty, artificial intelligence emerges as a potential game-changer. However, Dye & Durham’s Q3 2023 Canadian Pulse Report highlights a paradox: 87% experiment with AI, but are hesitant when used professionally.

Bridging the comfort gap is key, especially as AI promises efficiency and accuracy in fintech, requiring client education on its integration.

Want to know more? Check out the source code on Fintech.ca.

Interac Expands e-Transfer Service, Welcomes New Participants

by

Interac, a key player in Canada’s financial landscape, unveiled expanded access to its Interac e-Transfer® service today.

Initially available to federally regulated banks and provincially regulated credit unions, the service now extends to FINTRAC-regulated Money Service Businesses (MSBs) and investment dealers regulated by CIRO.

Wealthsimple, a leading Canadian digital financial services provider, is set to be the inaugural participant under this extended access, offering over 280 financial institutions the ability to facilitate seamless money transfers for their clients.

The move marks a significant leap in enhancing accessibility and convenience within the Canadian financial sector.

Want to know more? Check out the source code on Fintech.ca.

LinkedIn Unveils Top 15 Canadian Startups Defying Odds in 2024

by

Amid economic turmoil, Canadian startups faced a tough year. Venture capital deals in Canada nosedived by 71% in Q1 due to higher interest rates and Silicon Valley Bank’s collapse.

Numerous firms halted operations and made layoffs. But adversity fuels innovation.

AI startups thrived globally, attracting substantial capital for generative AI integration. Healthcare and fintech also flourished, sparking a venture capital resurgence in Q2.

LinkedIn’s 6th annual Top Startups list highlights 15 Canadian companies rising to the occasion, innovating and gaining attention in 2024.

Want to know more? Check out the source code on Techtalent.ca.

Google Report Explores How AI Could Boost the Canadian Economy by $210 Billion

by

As Google turns 25, its focus is AI, which it foresees enriching Canada’s economy, sustainability, and living standards.

This year, an Economic Impact Report by Public First recognized Google’s significant role in Canada—revealing that Google Search, Play, Cloud, Advertising, and YouTube delivered over $45 billion of economic activity for Canadian businesses, non-profits, and creators in 2022. 

The report found Canadians use Google Search frequently, resulting in five million questions hourly. It also suggests generative AI could boost Canada’s economy by $210 billion or 8% of GVA, potentially saving Canadian workers 100 hours annually.

Want to know more? Check out the source code here.

League Collaboration to Elevate Manulife’s Digital Health Offerings

by

Toronto-based Manulife has announced a strategic alliance with healthcare tech leader, League, enhancing personalized digital healthcare for members within Manulife’s group benefits system.

This collaboration underscores Manulife’s dedication to data-driven innovations, aiming to extend lives and improve health outcomes through preventative measures.

Ashesh Desai, Head of Group Benefits, stressed the expansion of care-oriented digital experiences for their Group Benefits clientele.

The integration of League’s technology is anticipated to streamline health journeys, emphasizing prevention, and aiding employers in managing healthcare costs while fostering healthier work environments. Integration is set for early 2024.

Want to know more? Check out the source code on Newswire.ca.

Luge Capital Aims for $100M Fund II to Boost Fintech Innovations

by

Luge Capital has secured an impressive $71 million in the first phase of its second fund, Luge Capital Fund II. Their target is to reach a fund size of $100 million.

The fund’s LPs for this round comprise notable investors like CDPQ, Desjardins, and Sun Life. Fund II aims to invest in early-stage fintech startups across North America, with slightly larger initial investments compared to their first fund.

Expanding its investment thesis, Luge will now include verticalized fintech startups and those with a focus on environmental, social, and governance (ESG) aspects.

Want to know more? Check out the source code on Fintech.ca.