Unlocking Growth: How AI Can Supercharge SMEs and Solve Canada’s Productivity Crisis – Episode 3

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“Canada’s Productivity Crisis: How AI Can Help Close the Gap

In a recent podcast episode, Jean-Sébastien Charest, the chief information officer at the Business Development Bank of Canada, sheds light on Canada’s ongoing productivity crisis. The country’s lagging labour productivity, when compared to the United States and other advanced economies, is a cause for concern.

Underinvestment in new technologies, particularly the slow adoption of artificial intelligence (AI) by Canadian businesses, is identified by Charest as a key factor contributing to this issue. Interestingly, small and medium enterprises in Canada are the slowest to embrace AI, leaving them further behind in the global race for technological advancement.

A Practical Strategy for AI Integration

With Canada ranking 20th among 35 OECD countries in AI adoption, Charest proposes a practical “three horizon” strategy for AI integration. This strategy aims to provide a roadmap for Canadian SMEs to catch up with their international counterparts and leverage the power of AI to boost productivity.

Transforming Canadian Businesses and Economy

This insightful episode serves as a valuable resource for entrepreneurs, business leaders, and professionals seeking ways to enhance revenue and reduce costs. By delving into how AI can bridge Canada’s productivity gap, listeners can gain a deeper understanding of the transformative role technology plays in reshaping the country’s businesses and economy.

Conclusion: Embracing AI for a More Productive Future

As Canada grapples with its productivity crisis, the integration of artificial intelligence emerges as a promising solution. By adopting AI technologies and embracing innovation, Canadian businesses can position themselves for success in an increasingly competitive global market. The time to act is now – listen to the podcast, explore the possibilities of AI, and pave the way for a more productive future for Canada.”



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