The Federal Economic Development Agency for Southern Ontario has recently announced that it would be investing over C$5.7 million in a woman-led artificial intelligence (AI) company.
The company, Canvass Analytics Inc., aims to make AI easier to use so that the industrial sector can accelerate its transformation and become more sustainable. In order to do so, it will be allowing manufacturers to monitor and predict future output and optimize the processes, which will in the long term reduce water consumption and Co2 emissions.
The investment will then not only allow the company to accelerate its commercialization but will also create 45 new jobs in the tech industry, especially for women. The company hopes to advance innovation and productivity while minimizing the environmental impact.