B2B News for Friday, October 22, 2021: Artificial Intelligence in Ontario, Healthcare Bots & More on the Global Supply Chain

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Do you need an update on the state of Artificial Intelligence (AI)?

Yesterday, the Vector Institute in collaboration with Deloitte, released its Ontario AI Snapshot that looks at the health of the province’s AI ecosystem over the past year.

Here are some highlights from the report:

  • Ontario created more than 7,200 new AI jobs were created this year. That is nearly double last year’s figure. Slightly less than half the jobs are held by AI program graduates and pay more than $70,000 a year.
  • Ontario’s population of tAI talent is growing. More than 1,400 students began their studies in AI-related master’s programs in in the population.
  • More investment is going into the AI ecosystem and R&D.  $2.16 billion in venture capital investments were made in the sector. 
  • AI is playing an pivotal role in Ontario business. More than half of business executives surveyed say that AI plays a strategically important role in achieving their company’s business objectives or that their company has implemented a formal AI strategy within all business units. 

Press release: https://vectorinstitute.ai/2021/10/20/ontario-ai-snapshot-the-state-of-the-provinces-ai-ecosystem-in-2020-21/

An AI robot called Cara is about to change the healthcare industry forever, says its creators.

The University of Minnesota Medical School and Treatment.com gathered together the best doctors and tech engineers to build the Global Library of Medicine (GLM) from around the world to teach Cara.

The robot integrates all information by providing consumers with a bridge to wellness, telemedicine, pharma and health products. It also asks consumers questions about their symptoms and then sorts through millions of pieces of information that include historical medical cases, demographic data and advances in medical knowledge. The end result is a more accurate recommendation than any other digital tool in the world.

Press release: https://www.prnewswire.com/news-releases/how-robots-and-ai-are-about-to-change-this-11-trillion-industry-forever-301406209.html

The global supply chain cannot catch a break from criticism. There are, according to one expert, parallels between the supply chain disruptions we are experiencing now and the disruptions to the Japanese automotive supply chain following the tsunami of 2011.

“You have to look at different aspects of the supply chain and understand what is most important during which stage of the disruption,” said Robert Wiedmer, an assistant professor of supply chain management at the W. P. Carey School of Business at ASU. His study, “The Dark and Bright Sides of Complexity: A Dual Perspective on Supply Network Resilience,” appears in the Journal of Business Logistics.

According the study’s results, supply chains undergo complex reactions depending on their character and construction during times of disruption:

  • Having a lot of suppliers makes the impact of a disruption worse at first, but it helps during the recovery
  • Having a lot of carriers has no effect on the impact of the disruption, but helps during the recovery
  • Having a complex product with a lot of parts makes the impact disruption worse but has no effect on recovery

Press release: https://www.newswise.com/coronavirus/where-s-my-package-asu-expert-finds-kinks-in-global-supply-chain/

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Kate Baggott

Kate Baggott

Kate Baggott is a former Managing Editor of B2BNN. Her technology and business journalism has appeared in the Technology Review, the Globe and Mail, Canada Computes, the Vancouver Sun and the Bay Street Bull. She is the author of the short story collections Love from Planet Wine Cooler and Dry Stories. Find links to recent articles by following her on LinkedIn https://www.linkedin.com/in/kate-baggott-9a0306/