Key Insights
Key takeaways from "Impact and opportunities: Canada's AI ecosystem - 2023" report published by Deloitte
CFTE summarised “Impact and opportunities: Canada’s AI ecosystem – 2023” report by Deloitte. This report provides a snapshot of the state of Canada’s national AI ecosystem for the 2022–23 period (April 1, 2022 – March 31, 2023); it was created to help the broader market understand how an evolving Canadian AI landscape is reshaping our comprehension and adoption of AI technologies and affecting how the country is viewed on the global stage.
Key Aspects
- The report provides a comprehensive overview of Canada’s AI sector, highlighting its exceptional talent growth, significant R&D investments, and resilient industry expansion.
- It also details Canada’s robust AI venture capital investments, positioning it as a global leader in the field. Additionally, the report emphasizes the importance of ethical AI practices and diversity, addressing concerns about biases and advocating for responsible, inclusive AI development.
Table of Contents
- 1. Contents
- 2. Executive summary
- 3. Introduction
- 4. Our methodology
- 5. Canada’s AI ecosystem at a glance
- 6. Canada’s AI ecosystem: Five key insights
- a. Talent and job market
- b. Research and development
- c. Investment and economic indicators
- d. Toward an AI-ready society
- e. Ethical AI and diversity
- 7. Special feature: COVID-19’s impact on Canada’s AI ecosystem
- 8. Special feature: Canada stakes its claim in the generative AI landscape
- 9. Our next move: Acting now to lead globally
- 10. Spotlight: CIFAR & the National AI institutes
Key Findings and Insights
This report will give you an insight into:
- Talent and Job Market: In Canada, the AI talent pool grew by 38% annually over the past five years, outperforming the United States, United Kingdom, Germany, France, and Sweden. The number of AI professionals increased by 29% in 2022-23. Approximately 50% of AI positions in Canada offered annual salaries of $82,000 or more, indicating well-paying opportunities in the sector.
- Research and Development: Canadian AI research and development received significant funding, totaling $2.57 billion in 2022-23. This investment led to a substantial 57% increase in AI patent filings by Canadian inventors, significantly outpacing the average growth in other G7 countries.
- Toward an AI-Ready Society: Despite a global downturn in the AI sector, Canada maintained its growth trajectory with 46 new AI companies founded in 2022-23. This matched the previous year's numbers. Canadian organizations are actively engaging in AI, with a substantial percentage implementing AI projects and exploratory pilots, aligning with global trends.
- Investment and Economic Indicators: In a context of global investment slowdown, Canada's venture capital investment in AI reached $8.64 billion, securing the third position among G7 countries in per capita AI investment. This represents a significant growth in AI venture capital investments compared to five years prior.
- Ethical AI and Diversity: A notable majority of Canadian companies (86%) expressed concerns regarding the ethical risks associated with AI, particularly the potential for bias and low-quality results. While 68% of companies emphasized the importance of diversity in hiring AI talent, there is room for improvement in consistently adhering to AI cybersecurity and human-centered design principles.
Key infographics
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