Keeping an eye on AI to help business adopt it safely

The adoption of artificial intelligence into our daily routine has been profound. Maybe you use ChatGPT to build out tedious frameworks for standard documents or use Canva to create spectacular illustrated designs for marketing. The ease of integrating AI into our workflows makes it impossible to ignore. However, what price are we paying for these conveniences? The threats of AI are still vague. From lost income opportunities to humanity’s demise, there’s a massive gamut of possibilities.

A new organization was announced today to help Canada stay ahead of the AI revolution. The Canadian Artificial Intelligence Safety Institute has a $50 million budget over five years to help Canadians reap the benefits from AI while fighting misuses such as disinformation campaigns, cybersecurity breaches and election interference.

The Chamber will work to keep members apprised of the positives and potential negatives of AI. The national Chamber network’s Future of Artificial Intelligence Council works directly with government to advocate on behalf of business to profoundly increase economic productivity and growth.

Better policies key to helping small businesses grow

It’s often said that small businesses are the backbone of their communities, and a new report shows that the numbers back up that claim.

The Canadian Chamber’s Business Data Lab recently published Scaling Success: Enabling Small Businesses to Grow. Among its findings are that nearly 70% of private-sector jobs are created by small businesses. The report also shows that businesses projecting high growth are typically between five and 19 employees, are owned by immigrants or visible minorities and have been operating between three and 10 years.

In order to grow, the biggest challenges facing businesses are access to financing and technology, as well as a supportive policy environment that provides opportunities to export.