Study: AI to Drive $100B Economic Impact in Canada, Led by Ontario
A new study commissioned by the Vector Institute and conducted by Deloitte Canada reveals that artificial intelligence has generated between $82 billion and $100 billion in economic contributions across Canada from 2019 to 2024. Ontario serves as the primary engine of this growth, accounting for nearly half of the national total with contributions between $42 billion and $52 billion. The report highlights that AI-related jobs create significant value, averaging $199,000 annually per position in Ontario. Looking ahead to 2035, AI adoption is projected to add $122 billion in cumulative real GDP to Ontario and $298 billion nationally. Additionally, the technology is expected to create an average of 41,500 new jobs annually across Canada and boost labor productivity by 1.5%. The study also emphasizes successful investment leverage, noting that every federal dollar invested in AI attracted over $10 in private sector funding nationwide. With a 149% increase in companies investing in AI since 2019, Ontario’s ecosystem continues to expand, reinforcing its status as a global AI hub while addressing competitiveness challenges through enhanced productivity and wage growth.
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Study: AI to Drive $100B Economic Impact in Canada, Led by Ontario
A new study commissioned by the Vector Institute and conducted by Deloitte Canada reveals that artificial intelligence has generated between $82 billion and $100 billion in economic contributions across Canada from 2019 to 2024. Ontario serves as the primary engine of this growth, accounting for nearly half of the national total with contributions between $42 billion and $52 billion. The report highlights that AI-related jobs create significant value, averaging $199,000 annually per position in Ontario. Looking ahead to 2035, AI adoption is projected to add $122 billion in cumulative real GDP to Ontario and $298 billion nationally. Additionally, the technology is expected to create an average of 41,500 new jobs annually across Canada and boost labor productivity by 1.5%. The study also emphasizes successful investment leverage, noting that every federal dollar invested in AI attracted over $10 in private sector funding nationwide. With a 149% increase in companies investing in AI since 2019, Ontario’s ecosystem continues to expand, reinforcing its status as a global AI hub while addressing competitiveness challenges through enhanced productivity and wage growth.
Vector Institute for Artificial Intelligence