A | I: The AI ​​Times – Canada’s newest unicorn is a quantum computing company

PLUS: Louis Têtu explains how Coveo bucks technology trends ahead of SAAS NORTH’s keynote.

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Xanadu closes $100M Series C as quantum computing firm becomes Canada’s newest unicorn Favorite

Xanadu’s valuation, which The Globe and Mail reported was estimated at $400 million last year, has reportedly tripled. This comes amid a continued decline in valuations for startups as inflation, geopolitical issues, and changing consumer trends negatively impact private and public markets.


Amazon envisions its new Sparrow robot performing its most common warehouse tasks, according to a company patent. One of the workers said, “This is going to take my job.” (inside)

Amazon’s latest robot could one day replace many human workers across its giant fulfillment network, generating concerns among some of the company’s more than 750,000 warehouse employees in the United States.


Mass layoffs hit Canada less than a year after major expansion plans Favorite

The layoffs come eight months after Meta committed to hiring up to 2,500 people across Canada over the next five years as part of a new Canadian engineering center.


Ontario’s AI sector has seen big gains recently, but won’t be affected by downturn: report (Toronto star)

The report released Thursday said 22,458 AI jobs were created in Ontario between April 2021 and March 2022, up 210 percent from the previous year. Another 59,673 AI jobs were retained in that period, an increase of 334 percent from the previous year.


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Alberta Innovates has been here from the start, investing in the next big thing.

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Louis Têtu explains how Coveo bucks technology trends ahead of SAAS NORTH’s keynote Favorite

Before speaking about SAAS NORTH at the BetaKit Keynote Stage, we sat down with Têtu to discuss why Coveo continues to buck tech trends, and tease out some predictions the CEO will deliver in Ottawa next week.


Elon Musk launches Twitter’s AI ethics team (wired)

As part of an aggressive cost-cutting plan that involved firing thousands of Twitter employees, Musk’s management team assembled a team of artificial intelligence researchers who were working to make Twitter’s algorithms more transparent and fair.


How Poseidon Ocean Systems pivoted internationally when local opportunities dried up Favorite

Speaking with BetaKit, Clarke explained the Poseidon journey, how she found her big opportunity, and how she managed the marketing of two products globally.


Thomson Reuters acquires tax automation company SurePrep for $500 million (Technique)

The deal, which Thomson Reuters said it expects to close in the first quarter of 2023, values ​​SurePrep at $500 million, which will be paid entirely in cash.

Founded in 2002, SurePrep is one of several software providers that help tax professionals and accountants collect and file 1,040 tax returns on behalf of their clients’ recent $150 million fund.


With the acquisition of Passage, 1Password is poised to battle the tech giants for a passwordless future Favorite

When Shiner took the reins at Agile Bits — the company that eventually became 1Password — ten years ago, it was a small development shop based in Toronto. By January of this year, the company was valued at $6.8 billion, following a C$744 million C round.


IBM unveils a new chip in an effort to fulfill the promise of quantum computing (The Wall Street Journal)

IBM aims to steadily build this computing power in the coming years. The company said that it plans to introduce a system of more than 4,000 qubits in 2025, which will be able to solve some problems faster or more accurately than classic computers, as well as provide accurate solutions to problems that the current best computers can only estimate, achieving a well-known milestone. as “quantitative advantage”.


Google opens new office in Montreal, commits $2.75 million to Québec tech Favorite

Fabrice Joubert, head of the Montreal site for Google Canada, said Viger’s office will be home to a variety of teams that will work on some of Google’s “most critical” products and services such as cybersecurity, AI research, Chrome, and Cloud.


Your Personal Google: How Mem plans to reinvent note-taking apps with AI (the edge)

What if you had access to everything the internet knows about you, and what if you could use it to improve your life? This is what Meem is trying to find out.


robots? Some companies find that only humans can do the job (The Wall Street Journal)

In retail, fast food, and delivery, robots with names like Roxo, Rita, and Scout have delivered mixed, sometimes bizarre results, at a cost that some companies find too high. In the best case, bots take the pressure off their co-workers.


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