Grants Support AI Use in Retail, Other Supply Chains
A public-private consortium announced the investment of nearly $30 million (Canadian) in five separate artificial intelligence projects to bring improvements to supply chain operations.
SCALE AI acts as an investment and innovation hub that accelerates the rapid adoption and integration of AI. It is funded by the Canadian and Quebec governments and has nearly 120 partners in the private sector. In its first year, SCALE AI has overseen the investment of more than $120 million (Canadian) in AI-related projects.
“Artificial intelligence will fundamentally transform industrial processes and the global economy in the coming years,” said Pierre Fitzgibbon, Quebec’s minister of economy and innovation. “The related technologies can be applied in a multitude of fields and will have major repercussions. Fostering growth means enabling companies to take advantage of new technologies and become more competitive in foreign markets.”
The latest round of investment amounts to nearly $22 million (U.S.) and concerns these 5 projects:
- Smart supply chain for the minerals and metals sector
- Port logistics optimization tool
- Demand forecasting and real-time monitoring in retail businesses
- An AI-based prediction platform for driving supply chain efficiencies
- Intelligent forecasting for a more reliable supply chain
“Innovative new SCALE AI projects are bringing together partners across industries ranging from metallurgy to retail, including 20 small and medium-sized enterprises,” said Navdeep Bains, Canadian minister of innovation, science and industry. “These collaborations are sustaining SCALE AI’s momentum, driving innovation and contributing to Canada’s leadership and growth in the emerging field of artificial intelligence.”