Key Concepts
- Prosperity in Canada: Current perceptions and challenges.
- Technology and Innovation: Role in driving future prosperity, particularly AI.
- AI Adoption: Current state, challenges for small businesses, and government support.
- Responsible AI Development: Importance of ethical considerations and bias elimination.
- Diversity, Equity, and Inclusion (DEI): Critical role in AI development and broader society.
- Mastercard's Data Responsibility Principles: Security, privacy, transparency, control, accountability, integrity, innovation, social impact, and inclusion.
- Tech Workforce Development: Importance of education, training, and infrastructure investments.
- Digital Divide: Addressing the lack of high-speed internet access in rural and Indigenous communities.
Prosperity in Canada: A Divided View
Jennifer Sloan highlights a concerning divide in how Canadians perceive prosperity.
- Current Perception: Only 41% of Canadians believe Canada is prosperous, while 45% disagree.
- Economic Factors: Recent high inflation and interest rates have contributed to financial pressure.
- Generational Divide: Only 40% of Canadians under 25 feel more prosperous than previous generations.
- Mastercard Research: This data is based on Mastercard's own research findings.
The Role of Technology and Innovation, Especially AI
Technology and innovation, particularly AI, are presented as key drivers of future prosperity.
- Canadian Optimism: Approximately two-thirds of Canadians believe technology and innovation will make the country more prosperous.
- AI's Transformative Potential: Generative AI tools like ChatGPT and Co-pilot have rapidly changed conversations and perceptions of AI.
- Business Applications of AI: AI can analyze data, predict market trends, automate tasks, and free up resources for small businesses.
- Small Business Month: AI adoption is particularly relevant for small businesses, which constitute 98% of all businesses in Canada.
AI Adoption: Status, Challenges, and Support
The current state of AI adoption in Canada is discussed, along with challenges and government support.
- Low Adoption Rate: Only about 6% of Canadian businesses used AI in the past 12 months, primarily large corporations, according to Stats Canada.
- Need for Increased Adoption: There's a need to improve AI integration among small businesses.
- Canadian Leadership in AI: Canada is a world leader in AI development, ranking first in the G7 for retaining AI talent.
- Government Investment: The federal government has committed $2.4 billion to secure Canada's AI advantage.
- Funding Allocation: This funding supports AI adoption, startups, infrastructure, and skills training.
Responsible AI Development and Ethical Considerations
The importance of responsible AI development and ethical considerations is emphasized.
- AI Code of Conduct: Mastercard is a signatory of the government of Canada's voluntary AI code of conduct.
- Bias Elimination: It's crucial to eliminate biases in AI systems to ensure they reflect society.
- Multicultural Society: Canada's multicultural society is a strength that should be reflected in AI development.
- Systemic Biases: Historical systemic biases have held back segments of the population, and these must be addressed in AI.
- Data Representation: Marginalized groups are often underrepresented in big data, leading to potential biases.
Mastercard's Data Responsibility Principles
Mastercard's commitment to responsible data practices is outlined through its Data Responsibility Principles.
- Seven Principles: Security and privacy, transparency and control, accountability, integrity, innovation, social impact, and inclusion.
- Focus on Social Impact and Inclusion: These principles are highlighted as particularly relevant.
- Embracing Diversity: Seeking partners and talent with diverse backgrounds to inform data practices and build inclusive solutions.
- Data for Good: Using data to identify needs and opportunities to positively impact diverse communities.
- Data Auditing: Ensuring data sets are audited to quantify and address the impact of AI on underserved consumers.
Building a Diverse and Inclusive Tech Workforce
The need for a diverse and inclusive tech workforce is presented as essential.
- Equitable Access: Providing equitable access to training and resources.
- Innovation and Education: Innovation is linked to education, and a more diverse tech sector leads to stronger innovation.
- Mastercard's Partnerships: Supporting the development and diversification of Canada's tech workforce through partnerships.
- UMB's Canadian Institute for Cyber Security: Partnership with UMB to create the Mastercard Internet of Things chair and cybersecurity scholarships.
- Mastercard Internet of Things Chair: Dr. Lou is advancing research and training in IoT cybersecurity.
- Cybersecurity Scholarships: Providing $25,000 scholarships to support students in cybersecurity programs.
- University Partnerships: Funding scholarships at UBC, Simon Fraser University, BCIT, and the University of Victoria, targeting underrepresented groups.
- STEM Education Programs: Supporting programs that deliver STEM education to school-aged kids.
- Aua Partnership: Partnership with Aua's National Indigenous Youth and STEM program, reaching over 30,000 kids in First Nations, Inuit, and Metis communities.
Addressing the Digital Divide
The digital divide and the need for infrastructure investments are discussed.
- Limited Access to High-Speed Internet: Only 60% of Canadian households in rural and remote communities have access to high-speed internet.
- First Nations Access: On First Nations, that number falls to just 43%.
- Call to Action: A call to redouble efforts to ensure all Canadians have the opportunity to participate in the tech workforce.
Conclusion
Jennifer Sloan concludes by emphasizing Mastercard's commitment to Canada's technological and economic journey.
- Paving the Way for a Prosperous Future: Investing in cutting-edge technologies and fostering a culture of inclusivity.
- Collaboration: Looking forward to conversations and collaboration to shape a prosperous future.
- Call for Ideas: Encouraging attendees to share their ideas and innovative work.
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