{"id":4914,"date":"2018-07-02T07:45:47","date_gmt":"2018-07-02T07:45:47","guid":{"rendered":"https:\/\/www.fintechnews.org\/_\/?p=4914"},"modified":"2019-07-17T21:26:30","modified_gmt":"2019-07-17T21:26:30","slug":"kpmg-fintech-report-canada-making-strides-to-become-global-leader-in-ai","status":"publish","type":"post","link":"https:\/\/www.fintechnews.org\/_\/kpmg-fintech-report-canada-making-strides-to-become-global-leader-in-ai\/","title":{"rendered":"KPMG FINTECH REPORT: CANADA MAKING STRIDES TO BECOME GLOBAL LEADER IN AI"},"content":{"rendered":"

 <\/p>\n

A new KPMG report looking at global FinTech<\/a> activity in Q4 2017 found that AI<\/a> is becoming a \u201cpivotal technology\u201d for FinTech innovation in Canada and the US.<\/p>\n

\u201cCanada continues to make strides to become a global player in AI, driven by Canadian government support and the presence of strong AI innovators at several Canadian universities,\u201d the report reads.<\/p>\n

According to the report, FinTech <\/a>investment in Canada declined in Q4 2017, though annual investment totals reached a record high, even before counting a massive outlier deal in Q2 2017:<\/p>\n

\"kpmg<\/p>\n

The report says that while Canada lags in FinTech adoption compared to the US, its adoption rate is still accelerating rapidly.<\/p>\n

US investors are also increasingly paying more attention to Canada because of Canada\u2019s stable economy and low exchange rate.<\/p>\n

The report also noted the strong government support for FinTech in Canada, noting that blockchain-focused companies were the main benefactors of regulatory bodies\u2019 sandbox initiatives to work with startups.<\/p>\n

\u201cCanada is a hotbed for FinTech innovation<\/a>, with increasingly solid FinTech hubs, a number of world-class FinTech innovators and strong governmental support,\u201d said John Armstrong, KPMG\u2019s national industry leader of financial services in Canada.<\/a><\/p>\n

\u201cCanadian banks are also deeply engaged with FinTech players and constantly thinking about how they can deploy FinTech within their organizations.<\/p>\n

It\u2019s no surprise PE and VC firms south of the border are looking to Canada for deal opportunities.\u201d<\/p>\n

Access the full report\u00a0here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

  A new KPMG report looking at global FinTech activity in Q4 2017 found that AI is becoming a \u201cpivotal technology\u201d for FinTech innovation in Canada and the US. \u201cCanada continues to make strides to become a global player in AI, driven by Canadian government support and the presence of strong AI innovators at several […]<\/p>\n","protected":false},"author":1,"featured_media":9597,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[54,2],"tags":[],"class_list":["post-4914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-tech","category-fintech"],"yoast_head":"\nCANADA MAKING STRIDES TO BECOME GLOBAL LEADER IN AI<\/title>\n<meta name=\"description\" content=\"\u201cCanadian banks are also deeply engaged with FinTech players and constantly thinking about how they can deploy 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