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Canadian Tech in 100 Words

 

Salesforce Ventures Expands AI Investments to $1 Billion

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Salesforce Ventures has announced a new $500 million AI fund, doubling its total commitment to AI innovation to $1 billion over the past 18 months. The fund aims to support high-growth companies and visionary founders driving advancements in artificial intelligence.

Salesforce Ventures has invested in over two dozen AI companies, including Anthropic, Cohere, and Hugging Face. The new fund will build on existing partnerships, providing capital, industry expertise, and access to Salesforce’s ethical and responsible AI resources. The goal is to help startups scale AI solutions while balancing growth and trust.

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

Wheaton Precious Metals Launches $1M Future of Mining Challenge

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Vancouver-based Wheaton Precious Metals has launched the inaugural Future of Mining Challenge, offering USD $1 million to a winning venture for advancing mining technology. The initiative focuses on reducing environmental impacts, improving mining efficiencies, and contributing to climate solutions.

Wheaton’s President and CEO, Randy Smallwood, emphasized the importance of fostering innovation to make mining practices more sustainable. The challenge, supported by Foresight Canada, invites cleantech companies to submit solutions aimed at reducing greenhouse gas emissions in mining operations. Applications open on September 18, 2024, with the winner announced in March 2025.

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

Ballard Restructures as Hydrogen Infrastructure Progress Slows

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Burnaby’s Ballard Power Systems has announced a global restructuring plan to cut costs due to delays in hydrogen infrastructure development and slower fuel cell adoption. The plan involves workforce reductions, consolidating operations, and cutting capital expenses, though product deliveries and customer commitments are expected to remain unaffected.

Ballard CEO Randy MacEwen stated that the restructuring will save over 30% in annual operating expenses, with significant savings realized by 2025. Earlier this year, Ballard secured its largest order to date, supplying 1,000 hydrogen fuel cell engines to Solaris Bus & Coach for the European transit market.

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

Canada Invests $14.9 Million to Install 3,000 EV Chargers Nationwide

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The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced $14.9 million in federal investments to support 20 projects installing over 3,000 electric vehicle (EV) chargers across Canada. The funding also aims to raise awareness of zero-emission vehicles (ZEVs) through educational initiatives, including $1.5 million for Plug ‘N Drive.

The investment aligns with Canada’s goal of having all new light-duty vehicle sales be ZEVs by 2035. The projects contribute to positioning Canada as a global EV leader, while creating sustainable jobs and reducing greenhouse gas emissions. These efforts are supported by investments from automotive and battery manufacturers.

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

Salesforce’s Agentforce Brings Autonomous AI Agents to Businesses

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Salesforce has launched Agentforce, a suite of autonomous AI agents designed to revolutionize service, sales, marketing, and commerce. Agentforce enables companies to deploy digital AI agents to handle tasks like customer inquiries and sales lead qualification, offering seamless scalability.

CEO Marc Benioff calls Agentforce the “Third Wave of AI,” capable of operating autonomously and driving customer success with real-time data. Unlike traditional chatbots, Agentforce adapts to changing conditions and can complete complex tasks without human intervention. Companies like Wiley have already reported significant improvements, including a 40% increase in case resolution.

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Canada Invests $2.14 Billion in Telesat’s Lightspeed Satellite Network

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Prime Minister Justin Trudeau, alongside Quebec Premier François Legault, announced a $2.14 billion loan to Telesat to support the completion and operation of the Lightspeed satellite network, Canada’s largest-ever space program. The Telesat Lightspeed network will expand high-speed Internet and 5G connectivity across rural and remote areas of Canada, supporting 2,000 jobs.

Telesat’s investment in the Canadian economy will exceed $4.4 billion over the next 15 years, creating jobs, scholarships, and co-op opportunities. The program will also enhance Canada’s satellite communications capabilities for NATO and NORAD. Construction is underway on MDA’s manufacturing facility in Quebec.

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

Canada’s AI Innovation to be Shaped by Cultural Data Strategy Roundtable

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Canadian Heritage has announced a partnership with Quebec’s Artificial Intelligence Institute, Mila, to explore responsible cultural data governance within Canada’s AI infrastructure. The collaboration aims to advance AI innovation while ensuring the protection of Canadian cultural content.

A roundtable discussion, scheduled for October 17-18, 2024, will bring together AI experts, cultural stakeholders, and government representatives to explore key issues like data transparency, licensing, and open-source content. The initiative seeks to balance the potential of AI to transform industries with the need to protect Canadian content creators.

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AI Clones Provide New Opportunities—and Concerns—for Voice Actors

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Voice actor John Q. Kubin sees a future where synthetic, AI-trained clones of his voice earn income even when he isn’t recording. As part of Voices.com’s AI Studio initiative, Kubin’s voice can now be cloned for clients using text-to-speech technology.

While the rise of AI in the voiceover industry raises concerns about talent replacement, Voices.com CEO Jay O’Connor believes AI is both a threat and an opportunity. AI Studio gives actors control over their voice clones, providing new income streams while protecting their rights. Industry groups, however, are pushing for stronger protections against AI misuse.

Want to know more? Check out the source code on The Logic.

Canada Invests $15.2M in Coveo to Boost AI Innovation and Job Creation

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The federal government has announced a $15.2 million contribution to Coveo through the Strategic Investment Fund to support AI innovation. The funding is part of Coveo’s $100 million project to enhance its platform with generative AI capabilities. This initiative is expected to create and maintain 590 skilled jobs and foster collaboration with Canadian universities and research institutes.

Minister François-Philippe Champagne emphasized that the project will bolster Canada’s leadership in AI, promoting long-term economic growth and new opportunities for workers. The project is a key part of Canada’s national AI strategy.

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

VW Faces Tough Choices, But Canadian Gigafactory Stays on Track

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Volkswagen’s Chief Financial Officer Arno Antlitz issued a stark warning this week, stating the company has “one, maybe two years to turn the tide.” Amidst financial pressures, VW dissolved a 30-year job protection agreement in Germany and is considering closing plants. However, Canada’s St. Thomas battery gigafactory remains on track for a 2027 opening.

Experts like Brendan Sweeney from Western University note VW’s North American operations may not face immediate changes, but challenges persist globally as the automaker contends with European competition and U.S. policy uncertainties. VW’s Canadian deal hinges on subsidies and cheap electricity.

Want to know more? Check out the source code on The Logic.