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Minister Bains and MP McGuinty announce investment in Canadian artificial intelligence company

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Artificial intelligence (AI) is a set of complex and powerful technologies that will touch or transform every sector and industry in Canada. It has the power to help us address some of our most challenging problems, from improving the health care Canadians receive to fighting climate change. That is why the Government of Canada is investing in AI innovation—to create well-paying jobs in an emerging field and generate sustainable economic growth for years to come.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and the Honourable David McGuinty, Member of Parliament for Ottawa South, announced a $14.5 million investment in MindBridge Analytics Inc. This fast-growing Canadian company is developing innovative AI and machine learning applications capable of finding errors and irregularities in huge sets of data, such as fraudulent transactions in financial data.

The investment will support MindBridge’s $140.8 million project to develop an innovative software tool powered by AI that will help client companies analyze their own data more effectively and make more informed decisions. The company’s innovative software will build on its past success in revolutionizing how AI is used in the field of accounting and will be applicable in a variety of sectors, from insurance and finance to agriculture and energy. For example, energy utilities might use the platform to analyze huge sets of data from the power grid. This would allow them to better observe patterns, improve efficiency and reduce energy use.

Thanks in part to this investment, MindBridge will maintain its 32 existing jobs and create 200 new highly skilled jobs by 2030. Canadians will also benefit from more co-op positions, more collaboration with post-secondary institutions, greater investment in research and development, and more partnerships to support career opportunities in STEM fields.

The project will also further strengthen Canada’s global leadership in AI by supporting the development of a made-in-Canada ecosystem of data scientists, developers and designers, as well as building up the cluster of excellence in Ottawa.

Quotes

“Advances in AI mean more than just the development of new products or services. It has the potential to help us solve some of the most difficult challenges we face, while creating good quality jobs and growth across all industries of the economy. MindBridge has already brought revolutionary AI products to market, and we are thrilled to invest in the next phase of their work as they continue to innovate, grow and create well-paying jobs.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

Ottawa’s burgeoning AI ecosystem is a just another example of how our highly skilled workforce is coming together to innovate and solve problems. We are proud to invest in home-grown companies like MindBridge, which are putting Ottawa on the map globally and creating hundreds of new well-paying jobs right here in our community.”
– The Honourable David McGuinty, Member of Parliament for Ottawa South

“The investment by the Canadian government, matched by private investors, better positions MindBridge Ai to leverage our flexible AI platform to drive the data economies of the future. This project will benefit all Canadians by further strengthening the Canadian AI ecosystem and our leadership position on the world stage.”
– Eli Fathi, CEO, MindBridge Ai

Quick facts

  • Founded in 2015 in Ottawa, MindBridge is a global leader in AI and machine learning application development. The company’s innovative Ai Auditor application is used by more than 260 customers worldwide.
  • The Pan-Canadian Artificial Intelligence Strategy supports AI research and talent attraction and retention in Canada, promotes collaboration between Canada’s main centres of AI expertise, and positions Canada as a leading destination for companies in this sector.
  • On May 21, 2019, Minister Bains launched Canada’s new Digital Charter, which includes a set of principles that will help build a foundation of trust in a digital world for Canadians and Canadian businesses. It will guide the Government of Canada’s actions as it continues to build an innovative, people-centred and inclusive digital and data-driven economy.
  • This investment in MindBridge is made through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments in Canada’s most dynamic and innovative sectors.
  • In addition to the Strategic Innovation Fund, there are hundreds of programs and services to help businesses innovate, create jobs and grow Canada’s economy. With a simple, story-based user interface, the Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.

 

SOURCE Innovation, Science and Economic Development Canada

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VeeaSystems to Display the Full Range of Devices for VeeaHub Platform at MWC Shanghai Bringing Advanced Wireless Edge Computing to Smart Verticals

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VeeaSystems, a wholly owned subsidiary of Veea Inc., the company powering an intelligently connected world with a universal platform for IoT and smart edge solutions, today announced that it will be publicly demonstrating the full range of its VeeaHub intelligent wireless edge servers for the first time at MWC Shanghai 2019, June 26-28. The company’s solutions bring together highly integrated Edge Computing and Wireless-mesh networking with performance and security designed and tailored for home and enterprise applications from SMEs to campus-wide deployments, including models for ruggedized industrial applications and certified for use in physically demanding transport environments. Veea will be exhibiting at MWC Shanghai on the iFree Booth F160 in Hall N1.

VeeaSystems will be displaying four different indoor and outdoor VeeaHub models that enable businesses operating across a wide spectrum of deployment scenarios to benefit from a resilient mesh network and innovative Smart applications running on its server function that support current as well as new and innovative use cases literally across every market vertical.

VeeaHub is a breakthrough platform solution with intelligent wireless servers that can create a hybrid wireless and wired micro-cloud at customer premises with support for all commonly used forms of wireless communications and the ability to run unique software applications on each VeeaHub node’s Linux server function to complement or minimize enterprise or SME’s dependence on cloud computing. It is a highly scalable platform that most economically substitutes for, or complements existing, Wi-Fi Access Point (APs) while providing for communications with a wide range of Wi-Fi, Bluetooth (with an integrated Eddystone beacon) and communication protocols (e.g., Zigbee and Z-Wave) for sensors and devices supporting Internet of Things (IoT) at customer premises as one highly integrated solution.

VeeaHub’s unique software architecture supports a novel container-based virtualization enabling a wide range of solutions and applications through the VeeaHub App Store. VeeaHub models on display run the same software architecture enabling the flexibility for applications to be deployed and managed concurrently, with each VeeaHub model providing physically different connectivity and compute capabilities alongside alternative environmental options. The VeeaHub range includes:

  • VeeaHub (VHE05) – ideal for Small Medium Businesses, Smart Home and Developers
  • VeeaHub Pro (VHE09/10) – ideal for large indoor Enterprise deployments
  • VeeaHub Pro Outdoor (VHH10) – ideal for large outdoor Enterprise or Smart City deployments
  • VeeaHub Pro RT (VHHR06) – ideal for Transportation including Trains, Ships, Trams and Buses

By proving a platform for applications to operate at the Edge, managed from VeeaHub’s Cloud platform with local control via smartphone and web-based Control Center, businesses can now make any vertical ‘Smart’, including Retail, Cities, Buildings, Education, Construction, Hospitals, Government, Trains, Ships and Home. VeeaHub users can download apps from the VeeaHub App Store as well as write their own custom applications using the VeeaHub SDK with ease.

“VeeaHub Platform delivers a whole new paradigm of computing that opens up a huge range of business innovations. By delivering a platform that offers a resilient and rapidly deployable mesh network, combined with highly secure edge compute – that can operate with or without Internet access – enterprises of all sizes and shapes can develop and deploy a wide range of innovative applications and services that suit their needs for the same cost as popular enterprise-class WiFi Access Points with only one function,” said Allen Salmasi, CEO of Veea. “We are now taking orders from a wide range of vertical markets, helping enterprises benefit from the power of wireless edge computing.”

VeeaHub’s micro-cloud significantly extends the range of wireless connectivity and coverage for smart devices, with a highly advanced “mesh networking” technology that substantially reduces cabling costs, along with multiple backhaul capabilities for Internet connection. It optionally provides for an eSIM-based 4G backhaul connectivity solution for 4G SD-WAN including automatic failover for ISP connection. Another unique feature is support for various forms of LoRa communications that can be customized for long-range low-power communications. VeeaHub platform solutions substantially reduce cloud computing costs and dependency on third party resources, while increasing reliability, security, privacy and flexibility in processing, managing, disseminating and maintaining data.

With the sheer quantity of data being generated for consumption at distant locations, it is fast becoming obvious that cloud computing will not be able to address a significant number of Industry 4.0 applications on a stand-alone basis. This may be for reasons of cost, service availability and reliability, security and privacy, latency, lack of a connection to Internet (e.g., mine shaft), or the environmental considerations of how all of this data is processed, managed and disseminated across the globe.

As new Applications using Artificial Intelligence (AI), Augmented Reality (AR) and Machine Learning emerge the issue of latency will also become more critical for many services. Whilst 5G offers higher speeds of connection, it only addresses one of the vulnerabilities associated with cloud computing and only in cases that ultra-high speed communications is required. Edge Computing provides a complimentary solution that allows for an alternative to the method of blindly sending all the data to the Cloud, and then deciding what to do with it, for many applications. VeeaHub platform enables all or, at least, part of the data processing to take place locally, where the data has been captured, before transferring anything to the Cloud.

 

SOURCE VeeaSystems

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87% of IT Decision Makers Plan to Increase Their Analytics Workforce in the Next One Year

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Data Science Leaders Outlook In India 2019, now in its fifth edition by Analytics India Magazine and Simplilearn measures the analytics leaders’ sentiment around the maturity level of Data Science in organisations, investment in analytics tools, talent and the companies’ focus on decision-making business outcomes.

The report takes stock of the analytics landscape in India and how enterprises have moved up the analytics maturity index. The disruptions that came in waves have now clearly matured and business leaders today are making big bets on emerging technologies such as AI and machine learning.

The report captures the C-level strategy and investment outlook and how business leaders are using data and analytics to redefine the future value chains related to products, business models and the current market. The changing dynamics have also brought into question the need for talent, that will be the key to rapid innovation. As business leaders explore new capabilities, they require expertise to scale digital efforts and require industry-ready talent that can drive greater value for enterprises.

Here are the key highlights from the study:

• Analytics leaders demonstrated a strong positive outlook towards the industry. Net Sentiment Score among analytics leaders in India is at a five-year high of 85%
• Analytics leaders emphasise that the demand for analytics in their organisation is expected to increase over the next 12 months
• As per the report, 87% of decision makers plan to increase their analytics workforce over the next 12 months

Key areas explored are:  

1. Maturity level of Data Science in organisations
2. Investment in Data Science over the next five years
3. Challenges that persist in DataScience adoption
4. Talent acquisition strategies key to success

“Enterprises have realized the vast opportunities Data Science offers and are ramping up their capabilities to gain actionable insights from data. But while companies are accelerating the adoption of data engineering, data science and analytics, what’s also required is the skilled talent to handle data-intensive roles. The need of the hour is the accessibility to industry-relevant training resources to help professionals from diverse backgrounds to gain relevant data-centric skills,” said Krishna Kumar, Founder & CEO, Simplilearn.

“With analytics capabilities maturing, we are seeing organisations move into a strong product mindset. Data is coupled with products and services and this data-product mindset is allowing organisations to scale and enjoy a competitive advantage. On the talent front, investments in training and skilling will help the workforce to be prepared for the changing roles,” said Bhasker Gupta, Founder & CEO, Analytics India Magazine.

 

SOURCE Analytics India Magazine Pvt Ltd

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Uptake Announces Award Offering Free Fleet Management Solution for Five Public Sector, Nonprofit or Social Impact Organizations

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Uptake, leader in industrial artificial intelligence (AI), has launched the ECO FUTURE AWARD to offer fleet management software free to five public sector, nonprofit or social impact organizations that aim to reduce their environmental impact. The winning organizations will receive Uptake’s fleet management optimization solution for eighteen months, as well as mentorship from Uptake.org, the philanthropic and civic innovation arm of Uptake, which is using data science and machine learning to address the world’s most pressing problems

“One of the initiatives of Uptake.org is to address the reality that often the organizations that can benefit most from predictive insight are those with limited technology resources,” said Brad Keywell, Uptake’s CEO. “Uptake’s fleet optimization products ensure that critical vehicles — ambulances, for example, as well as vehicles of organizations like the American Red Cross — are reliable and not subject to unexpected failure. With Uptake.org, the Uptake team shares our solutions for societal good, and this offer of our Asset IO software is another step on our journey of impact.”

By deploying Asset IO for Good, organizations can lower operational costs through advance insight of vehicle component failure as well as optimized fuel management. With the additional benefit of reducing carbon emissions. Uptake.org is delivering the value of predictive analytics to the social sector. Applications will be accepted until September 6 at https://www.uptake.org/award.

“We have partnered with Uptake to put telematics devices on many of our fleet vehicles. This allows us to see where our vehicles are, where they’ve been, and when they’ll need maintenance, so we can respond even quicker,” said Jim McGowan, Director of Information Management & Situational Awareness at the American Red Cross of Chicago & Northern Illinois.

Uptake’s Asset IO software uses artificial intelligence (AI) to create business value from operational data. Traditional asset management only covers routine maintenance tasks. Today’s asset-intensive environments require a new approach with industrial data science generating OEM-agnostic insights, predictions and recommendations for any asset. The result is higher uptime of critical equipment, lowered operations cost and improved productivity.

 

SOURCE Uptake

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