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Plus: AI Is New but Not Immune From Aged Rules, Lender Regulators Say.
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Penny AI raises $33.9 million CAD Series B to grow immediate gross sales answer (BETAKIT)
Maria Osipova, chief promoting officer at Penny, explained to BetaKit that this investment delivers Penny’s whole funding to date to $40.8 million CAD ($32.5 million USD). Penny formerly raised a $650,000 seed round in 2018, and a $5 million Series A in 2020.Osipova declined to disclose the sum of secondary funds incorporated in the $27 million funding.
Canadian corporation Xanadu achieves ‘big leap forward’ in quantum personal computer race (THE Globe AND MAIL)
In a paper posted Wednesday in the investigate journal Mother nature, the Canadian corporation explained how its device, a quantum laptop dubbed Borealis, attained “quantum advantage” – a time period that signifies it shipped a end result over and above the practical achieve of a standard laptop program.
Capable Improvements announces $7.5 million to choose the soreness out of affected person transfer (BETAKIT)
In an interview with BetaKit, Puri explained the typical affected individual transfer method as “pretty crude,” incorporating that it can induce ache to patients and end result in healthcare facility team experiencing injuries. Amid an by now short-staffed health care technique all through COVID-19, the concerns associated with this regime endeavor have become magnified.
Singapore’s Quincus sets up second HQ in Toronto, wanting to AI to clear up source chains (THE LOGIC)
Digitizing source-chain management sounds like a yawn right until you’re searching at soaring selling prices for scarce merchandise since factories cannot get the pieces they require and food items just can’t get from farms to current market. Quincus, a Singapore-based player that aims to support organizations deal with their out of date logistics, is setting up in Toronto simply because of its dense ecosystem of AI specialists who know how to do the massive-knowledge crunching that industries need to have.
With Canadian tech IPOs on pause, non-public marketplaces facial area a bigger bar.
Yep. Billions—and a ton of it goes unused.
It wasn’t that prolonged in the past that the “pandemic effect” helped travel a history-breaking IPO growth amongst Canadian technologies providers. Rapidly forward a year, however, and the landscape has wholly altered with personal sector advancement funds the moment once more the financing pathway of preference for tech firms.
Understand if the ‘rule of 50’ may well be the new rule for Canadian tech.
Why Canalyst’s Damir Very hot thinks just about every entrepreneur ought to have a co-founder (BETAKIT)
“Every time I remaining the company, I joined the subsequent a single in an before and a more senior function, and fewer money comp and a lot more stock,” claimed Hot. “And then inevitably there was nowhere to go but start out from floor zero, and so I discovered an awesome co-founder and then off we went.”
Meta reorganization aims to decentralize Facebook’s AI attempts (AXIOS)
Like rivals Google and Microsoft, Meta is looking to make guaranteed that device studying and AI are used broadly throughout the corporation, not locked absent in study units.
Elon Musk to Employees: Expend 40 Hours in the Business office, or Else (THE NEW YORK Moments)
“The additional senior you are, the more noticeable need to be your presence,” Mr. Musk claimed. “That is why I put in so a lot time in the factory — so that those people on the line could see me functioning together with them. If I experienced not finished that, SpaceX would very long back have absent bankrupt.&rdquo
Worximity secures $14 million for good manufacturing unit analytics tech (BETAKIT)
The financing will come from Investissement Québec and current Worximity traders, the Fonds de solidarité FTQ and Marel, a multinational foods processing firm based in Europe that has strategically invested in the startup since 2019.
Tension Inside Google More than a Fired AI Researcher’s Conduct (WIRED)
Satrajit Chatterjee, a far more senior researcher at Google, used the go over of scientific discussion to undermine the females personally, the employees assert. They spoke anonymously since they were not approved to focus on organization issues. Multiple problems about Chatterjee’s behavior toward the women of all ages ended up built to Google’s staff division, and he gained a prepared warning, some staff claimed, but he ongoing to criticize the women’s effects.
Traveling Fish Companions appoints Tiffany Linke-Boyko as principal for Canada, secures $7.5 million from AEC (BETAKIT)
Founded in 2016, Seattle-based mostly Flying Fish can make seed-phase investments in synthetic intelligence (AI), machine studying (ML), World-wide-web-of-Factors (IoT), cloud computing, as very well as speech and natural language tech startups.
AI Is New but Not Immune From Aged Policies, Bank Regulators Say (THE WALL Avenue JOURNAL)
Economic institutions’ use of artificial intelligence should really have danger controls in place to tackle doable disadvantages, senior lender regulators explained, warning that old procedures could be used to the novel technologies. Even without the need of AI-certain assistance from federal financial institution regulators, establishments could run afoul of existing rules, officers at the Federal Reserve Board of Governors and Office environment of the Comptroller of the Forex reported Friday.




