$882,000 helps Daisy Intelligence accelerate growth, create skilled jobs and gain North American market share
February 6, 2019 – Concord, Ontario: Artificial intelligence (A.I.) is transforming industries, opening more opportunities for businesses, and building a stronger, more innovative Canadian economy.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced a FedDev Ontario contribution of up to $882,000 to Daisy Intelligence, an information technology company that offers a cloud-based A.I. platform that uses proprietary intelligent systems and theories that enhance its approach to machine learning.
The model can analyze large amounts of data to support strategic business decisions such as product mix selection in the retail industry and identification of fraudulent claims in the insurance industry.
“Our government is committed to positioning Canada as a leader in emerging fields like artificial intelligence. FedDev Ontario’s contribution will help Daisy Intelligence quickly gain access to new markets, which aligns with our plan to turn Canada’s economic strengths into global successes,” said Minister Bains.
Daisy’s software-as-a-service platform is generating interest from some of North America’s leaders in the retail and insurance industries. To stay competitive, Daisy Intelligence must continue to innovate and grow.
FedDev Ontario’s contribution is helping Daisy scale and increase its presence in Canada and the United States. This project would also create up to 29 new highly-skilled Science, Technology, Engineering and Mathematics (STEM) jobs in southern Ontario.
“We’re appreciative of the support from FedDev Ontario. As our A.I.-powered technology delivers exceptional ROI for customers, we see huge opportunities for growth in North America and internationally. As important, we’re excited to see Canada’s A.I. ecosystem establishing itself as a global leader,” said Gary Saarenvirta, Daisy’s founder and CEO.
For grocery retailers, Daisy can drive 100% higher profits and 5% higher total sales by optimizing prices, promotional product selection, and demand forecasting.
Daisy can help insurance companies become significantly more profitable by quickly and accurately identifying fraudulent activity, helping them reduce claims payments by millions of dollars.
With customers around the world, Daisy is establishing itself as one of Canada’s fastest-growing A.I. companies.
For FedDev Ontario