Record $117M funding for Scale AI supporting 15 AI projects

Spread the love

Montreal based scale ai recently announced that it had closed a $117 million funding round, its largest ever. The funding will support 15 AI projects that “demonstrate the acceleration of AI adoption in manufacturing, retail and agriculture as well as the development of innovative AI solutions for businesses”.

The announcement was made at the organization’s head office, with François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, as well as business partners in attendance.

Of the 15 projects this funding will support, nine are new AI projects and six projects already supported by Scale AI will benefit from additional funding, “to allow them to be deployed at scale for the benefit of the entire artificial intelligence ecosystem.” For “.

“Investing in innovation, especially in artificial intelligence, is essential to grow our economy and strengthen our position as a world leader,” Champagne said. “The projects announced today demonstrate the importance of the Scale AI cluster in Canada’s artificial intelligence landscape and its contribution to the creation of high-skilled jobs, established supply chains, as well as business efficiency and competitiveness.”

Scale AI is an innovation cluster specializing in Artificial Intelligence. It serves as an investment and innovation hub to accelerate the adoption and rapid integration of AI, and contributes to the development of a world-class AI ecosystem in Quebec and Canada. Funded by the federal government and the government of Quebec, it works with over 500 industry partners, research institutions and other AI players.

Since 2019, the organization has supported more than 90 industrial projects, with investments totaling half a billion dollars, of which 62 percent came from industry. This shows that Canadian companies large and small are increasingly relying on AI to drive their growth, improve their efficiency and achieve global leadership, Scale AI said in a press release.

Available on the list of projects supported by Scale AI organization website,

Source link

Spread the love

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.