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ServiceNow to Acquire AI based Element AI

30Nov By PriyankaNo Comments

ACQUISITION

ServiceNow to Acquire AI based Element AI

SANTA CLARA, Calif., 30th Nov 2020-- ServiceNow (NYSE: NOW) to acquire Element AI, a leading artificial intelligence (AI) company with deep AI capabilities and some of the world’s brightest AI minds. Element AI will significantly enhance ServiceNow’s commitment to build the world’s most intelligent workflow platform, enabling employees to work smarter and faster, streamline business decisions, and unlock new levels of productivity. Element AI has world-class scientists and practitioners who will bring expertise in applying modern AI to text and language, chat, images, search, question response, and summarization and will accelerate AI innovation natively in the Now Platform. With the acquisition of Element AI, ServiceNow will create an AI Innovation Hub in Canada to accelerate c...

14May By PriyankaNo Comments

ANALYSIS

How Coronavirus Hit Jobs Globally

Since the pandemic hit, claims for unemployment benefits have soared in some countries notably the US and by far less in others, for example, Japan. According to the UN’s International Labour Organization, as job losses escalate, nearly half of the global workforce at risk of losing livelihoods. As a result of the economic crisis created by the pandemic, almost 1.6 billion informal economy workers (representing the most vulnerable in the labour market), out of a worldwide total of two billion and a global workforce of 3.3 billion, have suffered massive damage to their capacity to earn a living. This is due to lockdown measures and/or because they work in the hardest-hit sectors. The first month of the crisis is estimated to have resulted in a drop of 60 per cent in the income of ...

Salaries of Software developers is Rising Fast in Toronto, Canada

27Mar By AdityaNo Comments

News

Salaries of Software developers is Rising Fast in Toronto, Canada

Touted as one of the top tech cities in Canada, Toronto is a booming tech hub that accounts for over 40 percent of tech-related workers in Canada. A Wall Street Journal report said that compensation for software developers outside of the United States and Silicon Valley are increasing fast. This hike in salary is a result of tech company expansions outside the area, which are causing a bidding war in terms of wages for software developers. Since 2018, there has been a steady rise in software developer salary rates. And because of Canada’s booming tech industry, this rate is bound to go even higher in the coming years. Many foreign tech companies are exploring Toronto and other tech hubs in Canada, and are finding value in their money. Salaries in such areas cost half of the pay workers...

California-Based Lime Scooters Expands to Canada

2Oct By Gauri SinghNo Comments

BUSINESS

California-Based Lime Scooters Expands to Canada

California based Lime Scooters is planning to release a small fleet of e-scooters in Waterloo, Ontario. This will be the startup’s first scooter-share pilot program in Canada. Lime is a dockless bike and scooter company that has partnered with the University of Waterloo to facilitate the launch. Lime’s scooters will be the first of any startup-owned e-scooters to enter the pavement in Canada. “Over the past several months, we have spent time in Waterloo to understand how our Lime-S e-scooters can help this progressive city reach its smart transportation goals,” Lime’s vice president of strategic development Andrew Savage said. “We are committed to meeting the unique needs of cities across Canada and are excited to continue expanding our global footprint.” Prior to this, the com...

Uber to Invest $154 million to Boost Canadian Operations

15Sep By Gauri SinghNo Comments

BUSINESS

Uber to Invest $154 million to Boost Canadian Operations

Global cab aggregator Uber has announced that it would invest up to $154 million (Can$200 million) over five years for the purpose of expanding its Toronto lab which is concerned with developing artificial intelligence for self-driving cars. Along with this, the company is planning to open a new engineering office in Canada's largest metropolis in early 2019. Uber's new engineering hub will join the company's efforts to launch the new features for its app. Also, they would expand into other modes of transportation such as electric bikes and scooters, as well as partnerships with public transit. In the 15 months since the Uber lab led by University of Toronto professor and machine learning expert Raquel Urtasun opened, it has delivered "significant technical breakthroughs towards m...

Canada’s National Pension Fund to Augment Investment in India

20Jul By Gauri SinghNo Comments

News

Canada’s National Pension Fund to Augment Investment in India

Canada’s national pension fund which is managed by Canada Pension Plan Investment Board (CPPIB) has put in nearly C$7 billion ($5.30 billion) in India soon after making an entry into the market ten years ago. It is seeking opportunities to put in money in the Indian infrastructure, real estate projects and power. Canada’s largest public pension scheme is seeing India as the main area for investment in Asia. This seems to be because India invests a valuable amount into infrastructure development. “As a long-term investor, Asia Pacific is very important... India is our focus market in the Asia Pacific,” said Suyi Kim, senior managing director and head of Asia Pacific, CPPIB. Indian Government that is led by Prime Minister Narendra Modi has plans to bolster the economy. Also, it aims to ...

Mahindra & Mahindra Invests Canadian Data-Driven Farming Company

1May By Sheldan RungasamyNo Comments

ACQUISITION

Mahindra & Mahindra Invests Canadian Data-Driven Farming Company

Mahindra and Mahindra (M&M) came to terms with Canadian IT firm Resson Aerospace Corporation in a share subscription agreement to acquire 10 per cent of its share capital for up to CAD 6.63 million. “The company has today signed a share subscription agreement for subscribing up to 8,00,402 Class C preferred shares of Resson Aerospace Corporation, Canada, which would result in the company holding up to 10 per cent of the share capital of Resson on a fully diluted basis,” M&M said in a regulatory filling. The amount of CAD 6.63 million which amounts to approximately 34.5 crore in Indian currency will be paid in cash. Resson is a machine learning and data-driven analytics company that makes use of the latest technological advancements to provide farmers with full insights abo...

Canadian Investment Firms Pumped $20 billion in India

9Jan By AdityaNo Comments

ANALYSIS

Canadian Investment Firms Pumped $20 billion in India

Canadian funds/firms have pumped in a full USD 20 billion in India, mostly by way of equity funds over the past decade alone, while bilateral trade is clipping at 30 per cent, both are going to get a fillip with the new bilateral pact, says an official. Fund inflows are set for acceleration with the signing of the much-awaited of the Foreign Investment Promotion and Protection Agreement (FIPA) by the two nations which will further boost investor investment, Canadian consul general in Mumbai Jordan Reeves said. "Canadas investments in India have touched USD 20 billion by way of equity funds in a short span of 10 years. Several pension funds and institutional investors are looking at more investment opportunities here, including on project financing," Reeves said. Addressing an inte...

Facebook To Notify Users When Photos Of Them Are Uploaded

20Dec By reutersNo Comments

News

Facebook To Notify Users When Photos Of Them Are Uploaded

Facebook Inc said on Tuesday it would begin using facial recognition technology to tell people on the social network when others upload photos of them, if they agree to let the company keep a facial template on file. The company said in a statement that it was making the feature optional to allow people to protect their privacy, but that it thought some people would want to be notified of pictures they might not otherwise know about. The feature would not immediately be available in Canada and the European Union, Facebook said. Privacy laws are generally stricter in those jurisdictions, though the company said it was hopeful about implementing the feature there in the future. Tech companies are putting in place a variety of functions using facial recognition technology, despit...

Paytm Goes Global, Launched App For Canadian Bill Payments

17Mar By PriyankaNo Comments

News

Paytm Goes Global, Launched App For Canadian Bill Payments

Not a long ago, in an event of IAMAI, Vijay shekhar, founder of Paytm has said that the day when we launched our app on foreign soil will be the most memorable day of my life. The man of golden touch once again proved his word true and his company launched bill payment app in Canada. The Mayor of Toronto Mr. John Tory visited Paytm Noida headquarters and launched the app. Paytm started Canada operation back in 2014 as a two-member operation team, working out of local libraries but now the Paytm Labs team is a 55 member strong team of Software, Data and Machine Learning engineers who build technologies for the world’s fastest growing mobile payments and commerce ecosystem. Using Paytm bill payment app, Canadians will now be able to pay for their cell phone, cable, internet, electr...