Today, the Toronto Region Board of Trade welcomed the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), for a major funding announcement in support of AI adoption by small- and medium-sized enterprises across southern Ontario.
Minister Solomon, joined by MP Chi Nguyen (Spadina–Harbourfront), announced an investment of $2.4 million to support the Board’s newest initiative: AI Business Catalyst. Delivered through World Trade Centre Toronto, this new initiative equips SMEs with practical tools, expert guidance, and direct support to adopt and implement AI solutions—boosting productivity, cutting costs, and unlocking growth opportunities.
Hosted in the Board’s Gala Room at 100 Queens Quay East, the event opened with remarks from our President and CEO Giles Gherson, who underscored the urgency of Canada's productivity crisis and the need to leverage advanced technologies to close the gap.
“Our region’s businesses and their workers need the tools to be competitive globally. This program is about giving businesses practical, step-by-step support to apply AI where it matters most: improving operations, cutting costs, and unlocking growth,” Gherson said. “Programs like this are exactly what’s needed to jumpstart business’ path to cost competitiveness.”
This initiative will help participating SMEs improve productivity and streamline operations by enabling them to learn about new tools, test how they can apply to their operations, and implement them effectively. It builds on the success of the Board’s Trade Accelerator Program and Growth Development Program, which have helped thousands of Canadian businesses grow and scale.
Minister Solomon, speaking on just his 44th day in the new AI and Digital Innovation portfolio, emphasized the federal government’s commitment to accelerating the adoption and commercialization of advanced technologies in Canada.
“Artificial intelligence is one of the most powerful tools we have to build a stronger, more productive economy – one that creates higher-paying jobs and ensures that Canada leads in the economy of tomorrow. This investment in the Toronto Region Board of Trade is about connecting Canadian businesses with the resources they need to thrive in a rapidly changing world, and keeping Canada competitive, secure, and resilient,” said the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
“SMEs know they need to adopt AI, but too often they don’t know where to start,” said Jon Worren, Vice President, World Trade Centre Toronto. “This is about equipping businesses in our region with the practical skills that will allow them to turn AI’s potential into real-world results.”
As Canada positions itself as a leader in AI research, initiatives like this one aim to ensure that innovation is not just developed here but also adopted here.
Learn how your business can get involved: bot.com/AI-Business-Catalyst.
The Toronto Region Board of Trade is one of the largest and most influential business chambers in North America and is a catalyst for the region’s economic agenda. We pursue policy change to drive the growth and competitiveness of the Toronto region and facilitate market opportunities with programs, partnerships and connections to help our members succeed – domestically and internationally.
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