On October 24th, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for southern Ontario (FedDev Ontario), accompanied by Yasir Naqvi, Member of Parliament for Ottawa–Centre, visited Larus Technologies to witness firsthand the Artificial Intelligence (AI) and Machine Learning (ML) innovations being driven by the Government of Canada’s $1.5 million investment, provided by FedDev Ontario. This funding is accelerating the development of Larus’ cutting-edge AI Software as a Service (SaaS) product, which is set to boost profitability for retail and supply chain operators. During the visit, Larus showcased the initial capabilities of their SaaS product, along with other AI/ML solutions currently in development and already available.
The $1.5 million investment, announced in June, supports Larus in expanding its software development capacity and creating jobs. With this support, the company is scaling its innovations in the retail, e-commerce, and supply chain business-to-business (B2B) markets.
In addition to this support, the Government of Canada is making broader strategic investments to help businesses adopt artificial intelligence (AI) and develop new technologies. Through the Regional Artificial Intelligence Initiative (RAII), Canada’s regional development agencies (RDAs) are delivering $200 million to bring new AI technologies to market and accelerate AI adoption nationwide. RAII aims to help Canadian businesses turn innovative ideas into real-world solutions and enhance their global competitiveness.
