Indian Tech Moguls Mahindra (3.03↑) set to invest $79 mn in Canada on AI
CEO & MD also added that the collaboration will bring about the best of both worlds
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In order to set a base in Canada IT services providers, Tech Mahindra are willing to invest $79million for a tenure of the next five years. They believe they can establish a center of excellence in the country, which will work on major technologies such as artificial intelligence (AI) and blockchain platform
These two technologies have brought about tremendous innovations and also created a lot of employment opportunities especially in the ‘fintech’ and ‘smart cities’ markets
Furthermore, Tech Mahindra went on to add that by expanding its base in Canada it will help them to nurture stronger connections with the Canadian innovation ecosystem, which includes communities of business and academia as well.
The center of excellence is all set to be based in Toronto with its primary focus being on jointly developing leading-edge business solutions in the digital technology space while collaborating with the leading academic institutes, innovators and accelerators in the start-up ecosystem just like the Vector Institute.
Navdeep Bains, Minister of Innovation, Science & Economic Development of Canada gave his opinion regarding this partnership, he quoted “We are committed to supporting new well-paying Canadian jobs and industry growth in emerging technologies such as Artificial Intelligence and Blockchain.”
CP Gurnani, CEO & MD, Tech Mahindra also gave a statement for this development and quoted “this partnership will draw from the best of both the worlds, leveraging tech capability of India and the Innovation edge of Canada”.