Ontario AI Ecosystem Shows Robust Growth in 2020-21 Despite Pandemic
The Vector Institute, in collaboration with Deloitte, released its annual Ontario AI Snapshot report covering the period from April 2020 to March 2021. The findings indicate that Ontario's artificial intelligence ecosystem demonstrated significant resilience and growth despite the challenges posed by the COVID-19 pandemic. Key metrics reveal the creation of over 7,200 new AI jobs, nearly double the previous year's figure, with many positions offering salaries exceeding $70,000. The supply of trained talent also expanded, with more than 1,400 students enrolling in AI-related master’s programs. Financially, the sector attracted $2.16 billion in venture capital investment, marking a substantial increase from the prior year. Additionally, median spending on AI research and development surged by a factor of 5.5 to 6.3. The report highlights that AI has become strategically vital for businesses, with 51% of executives stating it plays a key role in achieving business objectives or that their companies have implemented formal AI strategies. This comprehensive assessment serves as a benchmark for governments and institutions aiming to strengthen the province's technological infrastructure and economic competitiveness in the global AI landscape.
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Ontario AI Ecosystem Shows Robust Growth in 2020-21 Despite Pandemic
The Vector Institute, in collaboration with Deloitte, released its annual Ontario AI Snapshot report covering the period from April 2020 to March 2021. The findings indicate that Ontario's artificial intelligence ecosystem demonstrated significant resilience and growth despite the challenges posed by the COVID-19 pandemic. Key metrics reveal the creation of over 7,200 new AI jobs, nearly double the previous year's figure, with many positions offering salaries exceeding $70,000. The supply of trained talent also expanded, with more than 1,400 students enrolling in AI-related master’s programs. Financially, the sector attracted $2.16 billion in venture capital investment, marking a substantial increase from the prior year. Additionally, median spending on AI research and development surged by a factor of 5.5 to 6.3. The report highlights that AI has become strategically vital for businesses, with 51% of executives stating it plays a key role in achieving business objectives or that their companies have implemented formal AI strategies. This comprehensive assessment serves as a benchmark for governments and institutions aiming to strengthen the province's technological infrastructure and economic competitiveness in the global AI landscape.
Vector Institute for Artificial Intelligence