Prime Minister Justin Trudeau announced a $2.4 billion investment package from Budget 2024 to reinforce Canada's AI sector. The package includes funding for computing capabilities, support for AI start-ups, and resources to ensure responsible AI adoption. These measures aim to accelerate job growth, enhance productivity, and maintain Canada's competitive edge in AI globally. The funds will also go towards creating a Canadian AI Safety Institute and strengthening enforcement of the Artificial Intelligence and Data Act.

Cohere, a Canadian AI startup focused on large language models, has reached a $5.5B valuation following a $500M Series D funding round. The new funds aim to enhance its enterprise-grade AI tech for global business efficiency. Key investors include PSP Investments, Cisco, Fujitsu, AMD Ventures, and EDC.

Known for its AI-driven video generation service, Viggle AI secured $19 million in Series A funding led by Andreessen Horowitz. The Toronto-based startup will use the investment to enhance its AI capabilities and expand its market presence. Viggle AI's unique JST-1 model offers realistic character movements, setting it apart from competitors.

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A recent study conducted at St. Michael's Hospital in Toronto has revealed that an artificial intelligence tool named Chartwatch has significantly reduced unexpected deaths among hospitalized patients by 26%. This AI-based early warning system, which was implemented in 2020, analyzes various medical data inputs to predict patient deterioration, allowing healthcare providers to intervene more promptly. The study, published in the Canadian Medical Association Journal, examined over 13,000 patient admissions to the hospital's general internal medicine ward, which caters to complex cases. Researchers found that while the use of Chartwatch led to a notable decrease in unexpected deaths, other units in the hospital that did not utilize the AI tool did not experience similar changes, indicating the effectiveness of the technology. Chartwatch operates by continuously monitoring a patient's vital signs and lab results, generating hourly predictions about potential health declines. This proactive approach enables healthcare teams to act quickly, whether by escalating treatment or providing early palliative care when necessary. The system is designed to complement, rather than replace, the clinical judgment of nurses and doctors, enhancing overall patient care. The development of Chartwatch began in 2017, driven by staff suggestions that machine learning could improve patient outcomes. After rigorous testing, it was deployed in late 2020. The research team emphasized the importance of further studies to validate the tool's effectiveness across different healthcare settings, as the current study was limited to a single hospital unit during the COVID-19 pandemic. Experts in the field have acknowledged the potential of AI in healthcare, particularly in addressing staff shortages and improving patient outcomes. However, they also caution about the need for careful implementation and consideration of patient privacy. The Unity Health team is optimistic about expanding the use of Chartwatch and similar AI technologies across more hospitals in Ontario, leveraging collaborative networks for research and analytics. Overall, the findings from this study highlight the promising role of AI in enhancing patient safety and care within hospital environments, marking a significant step forward in the integration of technology in healthcare.

On October 1, Cointelegraph reported that the cryptocurrency exchange Gemini announced it would be closing all customer accounts in Canada by December 31. This decision was communicated to Canadian users via an email sent on September 30. The closure comes in the wake of new regulations introduced by financial authorities in Canada that govern crypto exchanges and trading platforms operating within the country. The move by Gemini reflects the increasing regulatory scrutiny faced by cryptocurrency platforms, which has led to significant changes in how these businesses operate in various jurisdictions. The implications of such regulatory actions can be profound, affecting not only the exchanges but also the users who rely on these platforms for trading and investment. In a broader context, the cryptocurrency landscape is continually evolving, with various developments and challenges emerging regularly. For instance, discussions around Ethereum's security have gained traction, particularly regarding the role of solo stakers in maintaining decentralization and protecting the network from potential attacks. Additionally, ongoing legal battles, such as the SEC's lawsuit against Ripple, highlight the complexities of classifying digital assets and the potential impacts on market dynamics. The situation with Telegram's founder, who was arrested in France, further illustrates the intersection of technology, law, and regulation in the crypto space. As the industry navigates these challenges, the importance of understanding regulatory frameworks and their implications for both exchanges and users becomes increasingly critical. The developments in Canada with Gemini serve as a reminder of the fluid nature of the cryptocurrency market and the need for stakeholders to stay informed and adaptable.