The University of Waterloo's new Artificial Intelligence Institute is the latest and greatest tech development in a city that's quickly becoming recognized as Canada's Silicon Valley.

The institute will tackle AI's potential to benefit all kinds of Canadian industries, including business, healthcare and urban planning. It'll also be a centre of innovation for human-machine interaction. According to Canada's Minister of Innovation, AI will eventually contribute "up to $15.7 trillion per year."

Major tech companies like Google and Shopify have already planted themselves in the up-and-coming Waterloo area. Thousands of other startups are already based there, and there are nearly 200,000 tech jobs between Toronto and Waterloo. Which is around half the amount of workers in Silicon Valley today.

This week, Toronto and Kitchener will be the main point of discussion at the City of Age Conference in San Francisco. The goal is to get more tech experts, researchers and companies interested in sharing their resources with the two Canadian cities.

CEO of Communitech Iain Klugman says, "In Waterloo, we've got the sort of hacker, hustler, entrepreneurial mindset — but Toronto brings scale. It has the capacity, the sort of infrastructure to build big."

Source: CBC

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