In 2023, everyone is talking about artificial intelligence (AI). Since OpenAI unveiled his ChatGPT last November, the market has been buzzing with the potential opportunities this new technology could create.The first big companies to enter the field microsoftlaunched a GPT chatbot using web search. after that, alphabet I created my own chatbot called bardbased on Google’s own technology instead of GPT.
America’s tech giants are now betting on AI en masse. So do Canadian companies. Whether it’s generative AI or “back-end” functionality, Canadian companies are at the forefront of the AI revolution. Here are three such companies to watch in 2023.
Kinaxis
Kinaxis (TSX:KXS) is a Canadian supply chain management company. We develop software that enables businesses to track inventory, customer buying patterns, and other supply/demand signals. The ultimate goal is to help businesses better manage their inventory, always procuring what they need to serve their customers, but nothing more.
Kinaxis is well known as an early adopter of AI. We are using AI to power the predictive capabilities of our supply chains. Suppose you want to know how many of which products your customers order at what times of the year. Kinaxis uses AI to automatically analyze these patterns so you can accurately order the right supplies and inventory at the right time. As a result, the facility has less unsold inventory.
shopify
shopify (TSX:SHOP) is a Canadian e-commerce company that develops website building and payment processing software for businesses. The company allows businesses to host their own websites that handle e-commerce sales. If you want to host your own he website that deals with sales, you usually need to hire a developer to build the shopping cart functionality. With Shopify, you can skip all that heavy lifting. You’ll have to pay Shopify for the duration of your service, but it’s fairly small per sale (usually just a few cents per sale).
How is Shopify using AI in their business?
It’s very simple. Use AI to help your customers create blurbs and other marketing pitches for your products. Instead of painstakingly writing product descriptions by hand, business owners can use AI and Shopify to generate descriptions. This is an important productivity hack that can make a big difference in people’s lives and businesses.
open text
open text (TSX:OTEX) is a Canadian technology company known for its content management and text document applications. This company is interesting because it has the most direct views. Generation AI Among all technology companies in Canada. As a text analytics company, we build the very same natural language AI applications that made ChatGPT such a hit.
If you’re looking for a Canadian AI business that most closely resembles a US chatbot company, OTEX is the place for you. OTEX is as involved in his LLM research as they are. It’s an innovative AI company, although it hasn’t grown as much as the other two stocks on this list.
