The world is on the brink of a new industrial revolution. Innovations in artificial intelligence, robotics and other fields could give productivity a big boost by automating an expanding range of tasks. Canada is well positioned to succeed in a digital world, and we should embrace it.
Canada has a flourishing information technology sector and is becoming an important player in the AI field. Major Canadian firms have teamed up to provide funding for the development of AI start-ups through a program called NextAI. And some international companies are moving their AI divisions to Canada.
To get the most out of the new technologies, we will need to work together to proactively mitigate the more harmful side effects that I have mentioned: the transition period and the potential effects on the distribution of income.Read More