Corey Redekop
“Data for Business” is an initiative of the Langley Chamber of Commerce in partnership with the Canadian Chamber of Commerce to provide members with reports, statistics and analysis on economic and business data to inform business and investment decisions. See below for the latest updates.
Langley – Generative AI represents a new opportunity to drive productivity by helping Canadian businesses and their employees improve the production and quality of goods and services. So why are 73% of businesses not considering incorporating this transformative technology into their operations?
New data and insights Canadian Chamber of CommerceBusiness Data Lab on Generative AI, Driving Productivity: Canadian Businesses Adopt Generative AI.
This report highlights the value generative AI is creating for Canadian businesses and provides a breakdown of early adoption by region, industry, company size, and years. It predicts when generative AI adoption will reach a tipping point and the extent to which it can contribute to Canadian productivity. The report also discusses the barriers preventing businesses from adopting generative AI and concludes with concrete recommendations for businesses and policymakers to accelerate adoption.
Generative AI is poised to be a catalyst for positive change and productivity gains, and its growing accessibility and range of applications give Canadian businesses little excuse to remain on the sidelines. Fortunately, some aren't sitting on the sidelines: Nearly one in seven companies (14%) are early adopters of AI, with information and cultural industries companies leading the way at 31%, followed by professional services (28%) and finance and insurance (23%).
Of the 14% of Canadian companies that are already using or planning to use Gen AI, their primary reason is not to replace employees, but to accelerate creative content development (69%) and increase task automation without reducing employees (46%).
Interestingly, and perhaps encouragingly for the modern worker, only 13% of companies using Generative AI specifically value automating tasks to replace employees.
Overall, this report constitutes a novel, comprehensive and actionable examination of Canadian businesses’ use of generative AI and the technology’s potential to drive productivity gains for the benefit of all Canadians.
Read the report highlights and the full report >
Corey Redekop is CEO of the Greater Langley Chamber of Commerce.
