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Toronto's AI tech sector primed to 'skyrocket': McKinsey partner

Toronto's AI tech sector primed to 'skyrocket': McKinsey partner

BNN Bloomberg
Tuesday, December 19, 2023 12:52:57 PM UTC

A McKinsey analyst says Toronto’s artificial intelligence industry is poised to “skyrocket” as the city builds the necessary infrastructure to become a global AI hub.

Business consulting firm McKinsey recently named Toronto one of 16 global hubs focused on the advancement of technologies including AI, calling the city an attractive destination for tech entrepreneurs.

McKinsey partner Federico Berruti told BNN Bloomberg that Toronto and Canada have had a “long history of pioneering many aspects of the foundational AI movements.”

“Canada also is an attractive place to work, and it has grown significantly in this area… it's translated into significant funding from the investment community,” Berruti said in a Monday television interview, noting that there has been a major jump in tech workers in the last few years.

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